Spot market electricity prices for Wednesday, Aug. 3

The highest electricity price rate for one megawatt-hour on Türkiye’s day-ahead spot market for Wednesday will be 3,148 Turkish liras at 03.00 and 04.00 p.m. local time (1200 and 1300 GMT), according to official figures on Tuesday.

The lowest rate is determined as 2,248.01 liras at 06.00 a.m. local time (0300 GMT), the figures showed.

The Energy Exchange Istanbul (EXIST) data for the trade volume on Tuesday’s electricity market showed a decrease of 11.9% to 1.49 billion liras compared to Monday.

The arithmetical and weighted average electricity prices on the day-ahead spot market are calculated as 2,641.34 liras and 2,675.27 liras, respectively.

The highest electricity price rate for one megawatt-hour for Tuesday was set as 3,749.99 liras at 03.00 p.m. local time (1200 GMT), while the lowest rate was determined as 2,000 liras at 06.00 a.m. local time (0300 GMT), according to official figures.

US$1 equals 17.95 liras at 02.14 p.m. local time (1114 GMT) on Tuesday.

Source: Anadolu Agency

Türkiye to continue to fulfill its duty as guarantor for Cyprus Island: Defense minister

Türkiye will continue to fulfill its duty as a guarantor country for Cyprus Island as it has done so far, the nation’s defense minister said Monday.

“Türkiye’s effective and de facto guarantor (role) and the presence of Turkish soldiers in Cyprus are our red line and indispensable,” Hulusi Akar said at the Turkish Republic of Northern Cyprus (TRNC) Social Resistance and Armed Forces Day Reception.

Türkiye will always continue to stand by the Turkish Cypriots in their just cause, Akar said.

“In our work with the TRNC, we have not been able to find any response to all the solution proposals we have put forward,” he said, adding that Greeks did their best to separate themselves and differentiate the Turkish population there with an “uncompromising attitude.”

Greek Cypriots should recognize the sovereignty and independence of the Turkish presence and accept their right to live in security and prosperity, he said.

“In particular, we expect third parties to be objective and impartial about the Cyprus issue, to abandon their strategic blindness and to approach events with an equal understanding,” he added.

Decades-long dispute

Cyprus has been mired in a decades-long dispute between Greek Cypriots and Turkish Cypriots despite a series of diplomatic efforts by the UN to achieve a comprehensive settlement.

Ethnic attacks starting in the early 1960s forced Turkish Cypriots to withdraw into enclaves for their safety.

In 1974, a Greek Cypriot coup aimed at Greece’s annexation of the island led to Türkiye’s military intervention as a guarantor power to protect Turkish Cypriots from persecution and violence. As a result, the TRNC was founded in 1983.

It has seen an on-and-off peace process in recent years, including a failed 2017 initiative in Switzerland under the auspices of guarantor countries Türkiye, Greece and the UK.

The Greek Cypriot administration entered the European Union in 2004, the same year Greek Cypriots thwarted a UN plan to end the longstanding dispute.

Source: Anadolu Agency

Tensions escalate as US House Speaker Pelosi expected to visit Taiwan

US House of Representatives Speaker Nancy Pelosi is expected to visit Taiwan on Tuesday despite warnings from China of consequences, according to Taiwanese media.

In an exclusive report, Taiwan newspaper The Liberty Times said Pelosi will land at the Taipei Songshan Airport around 10.20 p.m. local time (1420GMT).

Pelosi is on an official trip to Asia with stopovers in Singapore, Malaysia, Japan, and South Korea, without any official mention of Taiwan.

“It is understood that Pelosi will stay overnight after arriving in Taiwan. She is expected to leave Taiwan on Wednesday afternoon,” the daily claimed.

According to the report, two five-star hotels have been booked for the stay of the visiting American delegation of lawmakers.

Pelosi, who will be the first US House speaker to visit Taiwan in 25 years, will meet Taiwanese President Tsai Ing-wen before engaging with Taiwanese lawmakers, the report said.

While Taiwanese officials are mum on the visit, China, which claims the self-governing island as a part of its territory, has said its military “won’t sit by idly” if its “sovereignty and territorial integrity” is being threatened. It has held several military drills near Taiwan since the speculations on the visit.

Last week, China’s President Xi Jinping told his US counterpart Joe Biden “not to play with fire” over Taiwan.

Source: Anadolu Agency