New Rules On Share Transfers In The Electricity Market

The Regulation Amending the Electricity Market Licensing Regulation ("Amendment Regulation") was published in the Official Gazette dated 25 July 2025 and numbered 32966, entering into force on the same date.

Under the Amendment Regulation, the scope of two exceptions to the prohibition on changes in the shareholding structure of legal entities holding a pre-license has been tightened. These exceptions have been restricted to changes in the shareholding structure that do not result in a "change of control".

Pursuant to the Amendment Regulation:

1. changes in the shareholding structure of foreign legal entity shareholders of the pre-license holder legal entity, and
2. changes in the current shareholding structure of the pre-license holder legal entity resulting from the exercise of pre-emption rights