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EEX and TEİAŞ to cooperate on establishment of Turkish Energy Exchange

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The European Energy Exchange and TEIAŞ, the Turkish Electricity Transmission Company, have signed a memorandum of understanding for a co-operation on the establishment of an organised energy market.

Turkey represents one of the biggest energy markets with an important geographical position within the Southeastern European and Asian region.
“As a bridge between Asia and Europe, Turkey has the potential to develop a reference price for this region. The establishment of a Turkish Energy Exchange with liquid power spot and derivatives markets is crucial for the successful liberalization and further growth of the electricity markets,” says Metin Kilci (pictured), undersecretary for the Turkish Ministry of Energy and Natural Resources.
“Within the last ten years the European Energy Exchange has developed legal, technical and operational frameworks for trading including a secure and state of the art clearing infrastructure, international co-operations as well as transparency standards. EEX and EPEX SPOT are glad to contribute to the development of the Turkish energy market and share their expertise with their Turkish partners,”, says Iris Weidinger, chief financial officer of EEX.
Kemal Yıldır, general manager of TEİAŞ, adds: “By signing this MoU, we bring together the national and technical expertise of TEİAŞ and the know-how of operating markets from EEX which will surely foster and support the development of the Turkish electricity market.”

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