Sezer approved a Cabinet decree cancelling of Uzan’s agreements

Last Thursday, the Energy Markets Regulatory Authority (EPDK) decided to cancel the concessions, citing violations by both facilities of certain provisions of their agreements with the government. In related news, a regional court has rejected the Uzan Group’s appeal to have a stay order issued on the cancellations. Meanwhile, the Capital Markets Board (SPK) has launched an investigation into allegations of possible misuse of the power stations’ assets to finance the election campaigns of Cem Uzan’s Young Party (GP).