The New Draft Electricity Market Law

More than eleven years have passed since the Electricity Market Law numbered 4628¹ (the "EML") was enacted with the purpose of establishing a financially strong energy market, operating subject to private law provisions in a competitive environment, and securing the supply of sufficient, safe, uninterrupted, economical, environmentally friendly, and high-quality electrical energy. Being amended various times, the EML has successfully managed to realize most of the legal and structural changes that it was intended to accomplish. Now that transparent market mechanisms have been established by the Energy Market Regulatory Authority (the "EMRA"), there are a significant number of investors active in the electricity market, and if all of the ongoing investments are completed within the determined construction periods, Turkey will have no fear of demand surpassing supply in the short run.