Orkuveita Reykjavíkur

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Orkuveita Reykjavíkur
Reykjavík Energy
Industry energy
Founded 1 January 1999
Key people
Haraldur Flosi Tryggvason, COB
Bjarni Bjarnason, CEO
Products electricity, geothermal energy, utilities
Owner Reykjavík, Akranes, Borgarbyggð
Website www.or.is

Orkuveita Reykjavíkur (English: Reykjavík Energy) is an Icelandic energy and utility company that provides electricity, geothermal water for heating, and cold water for consumption and fire fighting. It also operates a data-utility network and waste-treatment facilities. The company's service area extends to 20 communities in the south-west part of Iceland. Orkuveita Reykjavíkur is owned by the City of Reykjavík (93.5%) and the Municipalities of Akranes (5.5%) and Borgarbyggð (1%).

History[edit]

Orkuveita Reykjavíkur was established 1 January 1999, by uniting Rafmagnsveita Reykjavíkur and Hitaveita Reykjavíkur. Rafmagnsveita Reykjavíkur was established in the year 1921. Hitaveita Reykjavíkur became an independent company in 1946, having been in operation as a City entity since 1930. In the year 2000 Vatnsveita Reykjavíkur was united with Orkuveita Reykjavíkur, but the former started operation 16 June 1909.

Orkuveita Reykjavíkur was obliged by law to unbundle its operations by January 1st 2014. Thus came about the subsidiary Orka náttúrunnar ohf. (English: ON Power plc.)

Geothermal plants[edit]

Orkuveita Reykjavíkur owns and operates the Nesjavellir and Hellisheiði geothermal power stations. The plants provide 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 geothermal sources. Both plants are situated in the Hengill region; an active volcanic ridge.

Board and management[edit]

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 2010, Haraldur Flosi Tryggvason, is Orkuveita Reykjavíkur's Chairman of the Board. Bjarni Bjarnason is CEO.

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Coordinates: 64°07′13″N 21°48′04″W / 64.12028°N 21.80111°W / 64.12028; -21.80111