Ragnheiður Elín Árnadóttir
Minister of Industry and Commerce
Will open the meeting.
At Landsvirkjun, our role is to maximise the potential yield and value of the natural resources we have been entrusted with, in a sustainable, responsible and efficient manner. The Autumn Meeting will be held on the 13th of November and will provide a forum for open discussion on just how Landsvirkjun can fulfil these obligations in the present climate.
Landsvirkjun has led the way in developing a powerful electricity supply, in successful cooperation with their clients, for over half a century. Landsvirkjun believes in continuing to build upon its established and solid foundation.
Energy prices are rising and the worldwide energy environment has changed dramatically. Many countries believe that their energy security is under threat and pollution is an escalating problem. Increased competition within the electrical energy market and the connection of grids between countries has brought new challenges and opportunities. Hydropower is both renewable and flexible as a resource and is in more demand than ever before. Icelanders produce more electricity per capita than any other European country.
The current climate could offer Iceland various opportunities. Landsvirkjun is resolute in building a more extensive and dynamic client base and discussions so far indicate that a number of industrial corporations are interested in the potential of operations in Iceland, despite the worldwide financial crisis.
Iceland is in an advantageous position and the tremendous value to be found in energy generation could improve the standard of living even further, if utilised in a prudent manner. Why is electrical energy such a valuable resource? Why should we increase capacity? How can we secure a competitive industrial sector? What are the advantages and disadvantages of constructing a sub-sea cable? How can we protect Iceland’s interests? We believe that a broad consensus on these issues is important and we therefore call for an open discussion on the opportunities ahead of us.