Turkish electricity wholesaler Tetas could raise electricity prices as much as 20% next quarter to balance its finances, according to an energy official quoted by news service Reuters.

The state-run company said such a rise could affect retail power prices by 6 to 7%.

Rising natural gas prices and the current exchange rate of the lira against the US dollar and late payments by other state-owned power companies, a majority of which supply Turkish power, have all contributed to Tetas’ current position.

The company is yet to apply to the Energy Market Regulatory Authority for its price rise on October 1.