POWER June 2015 - 69

This report was researched
and written by Global
Business Reports
Power in
Turkey
Rewiring the grid: the State, the
market, and the state of the market
Emerging markets, even those that seek to defy it, are inextricably
the product of their past. The role that the legacy of
bureaucracy plays in shaping institutional power structures
and the way in which cronyism manifests itself are determined
by the historical shape of a country. Real junctures in
a country's development are rare. Opportunities for a country
to decidedly separate itself from the past - to reform, transform
and democratize power - do not come often. Turkey,
and as an extension of it the country's energy sector, has long
stood at one such juncture.
Today, the path which Turkey chooses will determine the
country's ability to answer one of its most pressing macroeconomic
concerns: the dual challenge of possessing one
of the world's most rapidly growing energy markets while
containing little known hydrocarbon resources. Already this
dilemma has built a $42.9 billion current account deicit. Of
equal importance to the current political administration, the
path which Turkey chooses at this juncture will also determine
to what extent the country is capable of accomplishing
its Centennial Goals, one of current Turkish President Recep
Tayyip Erdoğan's lagship projects. More ambitious than realistic
and stemming from Turkey's larger goal of becoming
one of the world's ten largest economies by 2023, these
targets for the energy sector include the establishment of
20,000mW of wind energy, 600mW of geothermal energy
and the construction and operation of three nuclear power
plants within the next eight years. The extent to which Turkey
will be able to progress with these projects will be shaped by
its ability to reject its past.
Though the modern structure of Turkey's energy market was
irst formally established in 2001 through the creation of Turkey's
Energy Market Law, the dynamics underscoring the Turkish
energy sector of today far predate this, tracing their roots
to the irst point in modern Turkish history where the country
came across another such a juncture in its development: the
establishment of the Republic of Turkey in 1923 led by Mustafa
Kemal Atatürk, the Republic's irst president whose theory
of social and political governance has dictated the course of
the country's growth until now. Advocating a statist approach
to economic planning, Atatürk established the political structures
that would guide the expansion of Turkish energy:
structures that only today are inally being dismantled. PubPhoto
courtesy of Zorlu Energy.
Alice Pascoletti and JP Stevenson

POWER June 2015

Table of Contents for the Digital Edition of POWER June 2015

Contents
POWER June 2015 - Cover1
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POWER June 2015 - Contents
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