Electricity Generation Company (Turkey)

The Electricity Generation Company (Turkish: Elektrik Uretim A.S.; EUAS) is the largest electric power company in Turkey. Owned by the government, it produces and trades electricity throughout the country.

EUAS 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 TETAS.

As of 2019[update] EUAS owns almost a fifth of Turkey’s total generating capacity including coal, gas, hydro and wind power stations.

As of 2020[update] EUAS owns most of the country’s lignite in 7 coalfields, including the largest Elbistan.

EUAS owns the old Can-1 and Afsin-Elbistan B power stations and buys from private sector lignite-fired plants: these power plants pollute and cause early deaths.

Can-2 coal-fired power station opened in 2018 and EUAS guaranteed 7 years of electricity purchases at a cost of between 64 and 70m USD per year.

EUAS (with state-owned gas and oil company BOTAS) is an oligopoly and sets a soft cap on electricity spot prices; whereas prices to end consumers are regulated. In 2018 EUAS lost 1.8 billion lira. Support for coal in Turkey resulting from annual expenditures of EUAS in primary materials and supplies is estimated at ₺953 million (US$272 million) per year (2016-2017 average). It is on the Global Coal Exit List. 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.: 12