In the “Economic Notes” study of the Central Bank of the Republic of Turkey (CBRT), it is reported that the electricity organizations increased electricity production in their own facilities with increasing electricity costs after 2021, but this is not reported in total figures.
In the Bank’s website “Economy Notes” section, a study on “Recent course of the relationship between electricity consumption and industrial production” was published.
In the study, where the relationship between industrial production and electricity consumption was examined for the 2017-2024 period, the recent separation between the two series has been put forward.
In the study, regarding the causes of the separation between industrial production and electricity indicators, “It is considered that the electricity organizations increase the production of electricity in their own facilities with increasing electricity costs after 2021, but this is not reported within the total figures may indicate a weaker appearance compared to the past period.” his statements were included.
In the study, it was stated that the economic data in Turkey has created a high correlation between industrial production and electricity consumption and emphasized that the relationship started to weaken especially after the second half of 2021.
“Industrial organizations have decreased the amount of energy they use from the national electricity distribution system”
Regardless of the selected electricity indicator, the post -2021 decomposition between industrial production and electrical data may be related to the relative increase in electricity costs in this period.
“After the cost increase, industrial organizations increased their investments in their own facilities, especially in their facilities and reduced the amount of energy used from the national electricity distribution system. In this context, the electrical data consumed by industrial enterprises under the total electricity consumption data consumed in this context compared to the past period compared to the past period It is considered that it may be pointing to a weaker appearance than it is in a real sense. “
In this framework, while the researchers and policy makers predict the appearance of industrial production, they should consider the recent change in electricity production and consumption dynamics.
