Draft Law Amending the Electricity Market Law and the Law on the Renovation of Olive Cultivation and Vaccination of the Wilds (the “Draft”) was submitted to Commission on 16.06.2014. The Draft grants a one year additional period – in addition to the remaining construction term, if any- to the legal entities that were not able to fulfill their obligations as of March 30th 2013 in relation to the initiation of the construction of their production facilities within the pre-construction term granted in their licenses. In case such obligations cannot be fulfilled due to force major reasons or due to the justified reasons that are not attributable to the license holders, additional periods may be granted to such legal entities with the decision of the Council. When necessary, the construction and completion terms for the production facility granted in a legal entity’s license may be amended to ensure completion of construction accordingly. In case those legal entities do not fulfill their obligations within the granted terms, the licenses of those entities may be cancelled or terminated.

Accordingly, it can be stated that currently the production license holders in the Turkish electricity market are waiting for the enactment of the Draft Law.