Forecast: Fossil Energy Gross Electricity Production in Turkey

The forecast for Fossil Energy Gross Electricity Production in Turkey shows a generally increasing trend from the actual data observed in past years to the projected values reaching up to 2028. In 2023, the production stood at 18.05 Million Tonnes of Oil Equivalent, an increase of 1.9% from the previous year. Historically, the year-on-year variations have been volatile, fluctuating significantly between positive and negative values.

From 2018 to 2023, the Compound Annual Growth Rate (CAGR) was relatively modest at around 0.37%. Noteworthy years include 2021 with a 21.33% y-o-y increase and 2019 with a -17.25% decline, reflecting the sector's sensitivity to various influencing factors.

Looking forward, the forecast from 2024 to 2028 predicts a stable growth in production capacity with an average annual growth rate of 1.37%, culminating in a 7.06% total growth rate over five years. Future trends to watch for include technological advancements in production efficiency, regulatory changes, and global energy price fluctuations affecting fossil energy production. Additionally, progressing renewable energy technologies may impact long-term fossil energy outlooks and should be monitored closely.