EMRA warned.. Beware of pyramid schemes based on electricity production

The Energy Market Regulatory Authority (EPDK) emphasized that complaints about attempts to mislead citizens through the profit sharing model by establishing ‘Ponzi chain’-like structures based on electricity production from energy resources have been received by its institutions. EMRA warned citizens against fraud.

In the statement made by EMRA, the following was noted:

“It should be remembered that the limits and scope of unlicensed electricity production are clear, its goal is to produce the consumed electricity and there is no profit sharing model.

In the process of investing in licensed electricity production, our citizens must definitely check the license status of the companies in question on our institution’s website. If these companies do not have an electricity generation license, it is not possible for them to engage in electricity production activities anywhere in Turkey. In addition, no company can engage in electricity production activities with licenses other than the electricity generation license (such as supply, transmission, distribution). Our institution meticulously monitors the licensing processes and whether the company’s obligations are fulfilled and shares it with the public.

Our citizens should be careful about fraudulent advertisements claiming to “produce electricity from renewable energy sources based on the profit sharing model”, which have started to spread on social media recently, and investments should be avoided if these companies do not have an electricity production license. “Our institution has initiated the necessary judicial and legal processes regarding the relevant advertisements.”