Cost-Effective Energy Development is Key to Competitiveness
Landsvirkjun delivered a strong performance in 2025, despite challenging conditions and fluctuations in the external environment. The results reflect a solid core operation and a strong financial position. This strength is particularly important at a time when clear decisions are needed regarding the next steps in energy development for Icelandic society.
Landsvirkjun’s financial resilience provides the Company with the capacity to undertake the necessary investments and fulfil its role responsibly — towards its owner, the Icelandic nation, as well as businesses and households across the country.
Our role is to maximise the value of the renewable energy resources entrusted to us, guided by sustainability and efficiency. To maintain Iceland’s long-term competitiveness and quality of life, it is essential to prioritise economically sound power projects and make effective use of existing infrastructure. Competitive electricity transmission costs are equally critical. In an isolated power system, cost-effective energy development and an efficient transmission network are fundamental to value creation and stable electricity prices.
Responsible resource utilisation is not solely about technical and financial decisions; it also depends on trust and dialogue. Landsvirkjun operates in close partnership with communities throughout the country, and public opinion surveys show that the Company enjoys a high level of trust. That trust is valuable and is built on transparency, professional work practices, and a willingness to listen.
We are at a turning point. The decisions made today will have a decisive impact on Iceland’s energy security, competitiveness, and quality of life in the years ahead. Landsvirkjun does not make those decisions alone, but we stand ready to step up our efforts further, should a clear mandate and direction be provided by the appropriate authorities.