Orkuveita Reykjavíkur (; English: Reykjavík Energy) is an Icelandic energy and

utility company A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and r ...

that provides

electricity Electricity is the set of physical phenomena associated with the presence and motion of matter possessing an electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as described by Maxwel ...

geothermal Geothermal is related to energy and may refer to: * Geothermal energy, useful energy generated and stored in the Earth * Geothermal activity, the range of natural phenomena at or near the surface, associated with release of the Earth's internal he ...

district heating District heating (also known as heat networks) is a system for distributing heat generated in a centralized location through a system of insulated pipes for residential and commercial heating requirements such as space heater, space heating and w ...

mains water A water supply network or water supply system is a system of engineered hydrologic and hydraulic components that provide water supply. A water supply system typically includes the following: # A drainage basin (see water purification – source ...

sewage Sewage (or domestic sewage, domestic wastewater, municipal wastewater) is a type of wastewater that is produced by a community of people. It is typically transported through a sewerage, sewer system. Sewage consists of wastewater discharged fro ...

and

telecommunications Telecommunication, often used in its plural form or abbreviated as telecom, is the transmission of information over a distance using electronic means, typically through cables, radio waves, or other communication technologies. These means of ...

services through its subsidiaries. The company's service area extends to 20 communities in the south-west part of Iceland. The company is owned by the City of

Reykjavík Reykjavík is the Capital city, capital and largest city in Iceland. It is located in southwestern Iceland on the southern shore of Faxaflói, the Faxaflói Bay. With a latitude of 64°08′ N, the city is List of northernmost items, the worl ...

(93.5%) and the Municipalities of

Akranes Akranes () is a port town and municipality on the west coast of Iceland, around north of the capital Reykjavík. The area where Akranes is located was settled in the 9th century; however, it did not receive a municipal charter until 1942. His ...

(5.5%) and

Borgarbyggð Borgarbyggð () is a municipality in the west of Iceland. The biggest township in the municipality is Borgarnes, with a population of 1,887 inhabitants. Other densely populated areas in the municipality include Bifröst, Hvanneyri, Kleppjárnsr ...

(1%).

History

''Orkuveita Reykjavíkur'' (Reykjavik Energy) was established 1 January 1999, by uniting ''Rafmagnsveita Reykjavíkur'' (Reykjavík Electricity) and ''Hitaveita Reykjavíkur'' (Reykjavík District Heating). ''Rafmagnsveita Reykjavíkur'' was established in the year 1921. ''Hitaveita Reykjavíkur'' became an independent company in 1946, having been in operation as a public entity since 1930. In the year 2000 ''Vatnsveita Reykjavíkur'' (Reykjavík Water) was united with ''Orkuveita Reykjavíkur'', but the former started operation 16 June 1909. Orkuveita Reykjavíkur was obliged by law to unbundle its electricity operations by January 1, 2014. Thus came about the subsidiaries ''Orka náttúrunnar ohf.'' (ON Power) and ''Veitur ohf.'' (Veitur Utilities), thereby splitting electricity generation and distribution.

Other subsidiaries

In 2007, ''Gagnaveita Reykjavíkur'' (Reykjavík Fibre Network) commenced operations, later renamed to ''Ljósleiðarinn'' (The Fibre), providing wholesale-access fibre connectivity to homes and businesses. Carbfix, founded in 2007, is a subsidiary that aims to develop a cost-effective approach to permanently storing CO₂ by dissolving it in water and injecting it into

basaltic Basalt (; ) is an aphanitic (fine-grained) extrusive igneous rock formed from the rapid cooling of low-viscosity lava rich in magnesium and iron ( mafic lava) exposed at or very near the surface of a rocky planet or moon. More than 90% ...

rocks.

Geothermal plants

Orkuveita Reykjavíkur owns and operates the

Nesjavellir The Nesjavellir Geothermal Power Station (, ) is the second-largest geothermal power station in Iceland. The facility is located above sea level in the southwestern part of the country, near Þingvellir National Park and the Hengill mountain r ...

and Hellisheiði

geothermal power Geothermal power is electricity generation, electrical power generated from geothermal energy. Technologies in use include dry steam power stations, flash steam power stations and binary cycle power stations. Geothermal electricity generation i ...

stations. The plants are cogeneration plants (CHP) provide both electricity and hot water to industries and households in the Reykjavík capital area. 99% of housing in this area is heated with hot water provided by

sources. Both plants are situated in the Hengill region; an active volcanic ridge.

Board and management

The board of directors at ''Orkuveita Reykjavíkur'' is appointed by the Reykjavík and Akranes City Councils. Reykjavík appoints five members and Akranes appoints one. The Borgarbyggð Council appoints an attending representative. As of 2014, Dr. Brynhildur Davidsdottir is Orkuveita Reykjavíkur's chairman of the board. Bjarni Bjarnason is CEO.

References

External links