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.[1]
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. The aluminum industry in Iceland used up to 70% of produced electricity in 2013.[2]
Landsvirkjun is the country's largest electricity producer. The largest companies in the retail market 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).[3] Iceland's national electrical grid is owned and run by Landsnet and is composed of 3,000 km of transmission lines and 70 or so substations.
^Installed electrical capacity and electricity production in Icelandic power stations 2020 (PDF). Orkustofnun Data Repository (Report). Iceland Energy Authority. OS-2021-T014-01.
^"Electricity Generation". Orkustofnun (National Energy Authority, Iceland). Archived from the original on 7 January 2019. Retrieved 12 December 2023.
^Energy in Sweden, Facts and figures Energiläget i siffror, The Swedish Energy Agency, Specific electricity production per inhabitant with breakdown by power source, (kWh/person) Source: IEA/OECD 2006 T23 Archived July 4, 2011, at the Wayback Machine, 2007 T25 Archived July 4, 2011, at the Wayback Machine, 2008 T26 Archived July 4, 2011, at the Wayback Machine 2009 T25 Archived January 20, 2011, at the Wayback Machine and 2010 T49 Archived October 16, 2013, at the Wayback Machine
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