Þórdís Kolbrún R. Gylfadóttir, the Icelandic Minister of Tourism, Industry and Innovation, has appointed a workgroup to lead discussions on the State‘s purchase of Landsnet. Landsnet operates the Icelandic transmission system and control of power systems. The company operates under a concession arrangement and was founded on the basis of the 2003 Electricity Act. Landsvirkjun owns 64.7% of Landsnet, other owners being RARIK (Iceland State Electricity), Orkuveita Reykjavíkur (Reykjavik Energy) and Orkubú Vestfjarða (Westfjord Power Company). The aim is for the workgroup to complete its task before the end of the year, according to the Minister.