May 23, 2006 The parliament approved the draft bill amending the law regulating the electricity market to allow the privatization of electricity distributors. Privatization of public services is moving ahead speedily. All basic public services are being commercialized. In this context, electricity will also be distributed by private firms. A steep hike in prices is […]
May 23, 2006
The parliament approved the draft bill amending the law regulating the electricity market to allow the privatization of electricity distributors.
Privatization of public services is moving ahead speedily. All basic public services are being commercialized. In this context, electricity will also be distributed by private firms. A steep hike in prices is anticipated.
As soon as the bill was passed, national and foreign firms got ready to grab a share in the market.
Turcas Petrol which operates under the trademark of Türkpetrol and Spanish Energy Company Ibredrola have signed an agreement to enter the market together.
Ibredrola is a giant energy monopoly. It operates in Europe and Latin America and serves 18 million customers. It is the first among wind energy producers. The company which is privately owned is worth more than 24 billion dollars and has an investment plan of over 16 billion euros for 201-2008.
Türkpetrol which is going to bid with Ibredrola is an experienced collaborator. After marketing for Castrol Oil Company for 35 years, it founded Turcas Petrol Company in partnership with Castrol Oil on September 12, 1988.
This year Turcas Petrol founded a marketing company jointly with The Shell Company of Turkey whose parent company is the British-Dutch giant Shell, to market, distribute and sell (wholesale and retail) fuel oil. The Shell Company of Turkey owns 70% of the stocks and Turcas 30%.
Sendika.Org /EK
