Iceland's Energy Security First and Foremost
Landsvirkjun sells all the electricity it generates, and demand is constantly rising. Iceland’s most significant energy source is the electricity generated by Landsvirkjun, the national energy company, which pays substantial annual dividends to the country. Landsvirkjun has near-zero debt; hence, it is well prepared for the inevitable investment ahead. There, the central focus must be on households and smaller companies, as they do not compete with larger companies in the electricity market but must continue to have access to energy security.
For years, Landsvirkjun’s most prominent customers have been part of the solid foundation of the economy. The energy transition will result in most branches of the economy relying as much on electricity as energy-intensive industries. Tourism will be electrified, and the fishing industry will be fuelled by green energy, just as in other areas of the economy.
Energy generation must be increased so that neither households nor smaller companies suffer.