How does electricity work in Iceland?

Much of electricity in Iceland is generated by hydroelectric power stations. Írafossstöð was built in 1953 and is one of Iceland's oldest hydroelectric plants still operating, located just south of Þingvallavatn. The electricity sector in Iceland is 99.98% reliant on renewable energy: hydro power, geothermal energy and wind energy.

Who produces the most electricity in Iceland?

Landsvirkjun is the country's largest electricity producer. The largest local distribution companies are RARIK, Orkuveita Reykjavíkur and Hitaveita Suðurnesja. Electricity production increased significantly between 2005 and 2008 with the completion of Iceland's largest hydroelectric dam, Kárahnjúkar Hydropower Plant (690MW).

Which Icelandic Islands rely on diesel generators?

Two remote islands disconnected from the Icelandic grid rely on diesel generators, Grímsey and Flatey. The Icelandic Transmission System Operator (TSO) is Landsnet, a company jointly owned by three state-owned power companies: RARIK, Landsvirkjun and Orkubú Vestfjarða.

What type of energy does Iceland use?

The electricity sector in Iceland is 99.98% reliant on renewable energy: hydro power, geothermal energy and wind energy. Iceland's consumption of electricity per capita was seven times higher than EU 15 average in 2008. The majority of the electricity is sold to industrial users, mainly aluminium smelters and producers of ferroalloy.

Can Iceland Export energy to the UK?

This would allow Iceland to export excess energy to UK and in turn linking it to a wider European super grid. The project is in planning stages and is controversial in Iceland due to fears of increased domestic electricity prices as well as environmental damage from the resulting increase in power plants.

Who owns the Icelandic transmission system operator (TSO)?

The Icelandic Transmission System Operator (TSO) is Landsnet, a company jointly owned by three state-owned power companies: RARIK, Landsvirkjun and Orkubú Vestfjarða. The Icelandic TSO is compensated for all transmission costs by retail and wholesale distributors.