SIGNIFICANT CHANGES IN THE ELECTRICITY MARKET LICENSING REGULATION

Regulation Amending the Electricity Market Licensing Regulation (the “Amendment Regulation“) has been published in the Official Gazette dated October 14, 2023 and numbered 32339, and the amendments entered into force on the same date. The main changes introduced by the are as follows:

• Until a decision is taken by the Energy Market Regulatory Board, pre-license applications for electricity generation facilities with storage, the scope of which is specified in the Amendment Regulation, will not be accepted.

• In the shareholding structure of legal entities holding market operation licenses, changes in direct shares representing less than four percent of the legal entity’s capital must be notified to the Energy Market Regulatory Authority (“Authority“) via the “EMRA Application System” within one month from the date of the changes.

• Turkish Electricity Transmission Corporation (“TETC“) will notify the Ministry of Energy and Natural Resources and the Authority by October 1st of each year, for the following 5 years and for the following 10 years, except for the applications to be made for YEKA, a report on the regional generation facility capacities that can be connected to its systems by connection point or on a regional basis, and in the said report the capacity allocated for generation facilities based on wind or solar energy will be determined separately.

• TETC and distribution license holders are obliged to notify the Authority, the market operator and, in case the main source is hydraulic, the General Directorate of State Hydraulic Works, until the tenth of January of the following year, the annual generation data obtained from the measurement systems provided by the relevant generation license holder legal entity for the procurement, installation and OSOS integration of the auxiliary source units installed in multi-source electricity generation facilities.