Abstract
Turkey liberalized the electricity market in 2001 and established the sector-specific regulatory body Energy Market Regulatory Authority (EMRA) concurrently. The segments in the electricity value chain have been unbundled and competition has been introduced into the power generation segment. Companies granted licenses from EMRA can operate the generation facilities and sell their generation in the bilateral market through private contracts or in the spot markets, i.e. day-ahead market and/or intraday market operated by Energy Exchange Istanbul (EPIAS) of which the shareholder structure includes market participants as well.
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