Electricity Generation Company (Turkey)

Electricity Generation Company
Elektrik Üretim A.Ş.

Company type	state-owned enterprise
Industry	Utilities, energy
Founded	2001
Headquarters	Ankara , Turkey
Key people	Halil ALIŞ (Chairman)
Products	Lignite mining, electricity generation, transmission and trading
Revenue	US$5.40 billion (2023)
Net income	US$476 million (2023)
Total assets	US$8.70 billion (2023)
Total equity	US$6.78 billion (2023)
Number of employees	5621[1]
Website	www.euas.gov.tr

The Electricity Generation Company (Turkish: Elektrik Üretim A.Ş.; EÜAŞ) is the largest electric power company in Turkey.^[2] Owned by the government, it produces and trades electricity throughout the country.^[3]

History

EÜAŞ was founded by the government in 2001. Its main purpose was to plan and implement the energy policy of Turkey which, through the exploitation of the domestic products and resources, would distribute cheap electric power to all Turkish citizens. In 2018, it took over the state-owned electricity trading firm TETAŞ.^[4]

Power plants

As of 2019^[update], EUAŞ owns almost a fifth of Turkey's total generating capacity^[3] including coal, gas, hydro and wind power stations.^[5]

Lignite coalfields

As of 2020^[update], EUAŞ owns most of the country's lignite in 7 coalfields, including the largest Elbistan.^[5]

Pollution and deaths

EÜAŞ owns the old Can-1 and Afşin-Elbistan B power stations and buys from private sector lignite-fired plants: these power plants pollute and cause early deaths.^[6]

Electricity Trading

Çan-2 coal-fired power station opened in 2018 and EÜAŞ guaranteed 7 years of electricity purchases at a cost of between 64 and 70m USD per year.^[7]

Economics

EÜAŞ (with state-owned gas and oil company BOTAŞ) is an oligopoly and sets a soft cap on electricity spot prices; whereas prices to end consumers are regulated.^[8] In 2018 EÜAŞ lost 1.8 billion lira.^[9] Support for coal in Turkey resulting from annual expenditures of EÜAȘ in primary materials and supplies is estimated at ₺953 million (US$272 million) per year (2016–2017 average).^[10] According to Carbon Tracker in 2021 $300 m of the company's coal power investment on the Istanbul Stock Exchange was at risk of stranding.^[11]: 12

Greenhouse gas emissions

Climate TRACE estimates the company's coal-fired power stations emitted over 6 million tons of the country's total 730 million tons of greenhouse gas in 2022:^[12][13] it is on the Urgewald Global Coal Exit List.^[14]

Sources

• Doukas, Alex; Gençsü, Ipek (June 2019). Turkey: G20 coal subsidies (PDF). Overseas Development Institute (Report). Archived from the original (PDF) on 2019-06-26. Retrieved 2019-06-27.

• EÜAŞ - A briefing for investors, insurers and banks (PDF). Europe Beyond Coal (Report). January 2020.^{[permanent dead link‍]}

References

1. "Personel Durumu". Retrieved 6 March 2020.
2. "Turkey's Euas misses payment to lignite-fired plants". Argus. 17 August 2018.
3. "Republic of Turkey Ministry of Energy and Natural Resources - Electricity". enerji.gov.tr. Retrieved 2020-03-06.
4. "Turkey: Transitional Amendments Under Decree No. 703". Retrieved 14 September 2018.
5. "Santraller" (in Turkish). Retrieved 6 March 2020.
6. "Health and Environment Alliance | Curing Chronic Coal: The health benefits of a 2030 coal phase out in Turkey". Health and Environment Alliance. 2022-12-22. Retrieved 2023-03-16.
7. "Kömür yerli ama ödemesi dolarla". Sözcü. 5 February 2019.
8. "Turkish lira tumble triggers electricity curtailment fears". ICIS. 13 August 2018.
9. "Electricity distribution and production scandals in Turkey". www.duvarenglish.com. Retrieved 2020-10-31.
10. Doukas (2019), p. 2
11. "Taking Stock of Coal Risks". Carbon Tracker. November 2021. Archived from the original on 2021-11-04.
12. "Explore Map - Climate TRACE". climatetrace.org. Retrieved 2024-03-18.
13. "Explore Map - Climate TRACE". climatetrace.org. Retrieved 2024-03-18.
14. "Explore the Data". coalexit.org. 2023.

External links

• "EÜAŞ" article Global Energy Monitor
• "TETAŞ" article Global Energy Monitor