Energy Resources to Remain in Public Ownership? Skip to content

Energy Resources to Remain in Public Ownership?

Minister of Industry Össur Skarphédinsson submitted a bill to parliament yesterday, proposing that Iceland’s energy resources that are currently in public ownership should continue as such, during a debate on privatization of energy resources.

The debate revolves around the state’s sale of its holdings in the Sudurnes Heating Utility (HS), Fréttabladid reports.

Skarphédinsson said his bill, which has not yet been approved, will bring a certain order to the energy market.

The bill’s purpose is to separate competition factors and exclusive licenses, ensure that the distribution of hot and cold water, electricity, and the operation of sewage systems and similar activities will continue to be in public ownership, and that the energy resources currently in public ownership will remain as such, Skarphédinsson explained.

Kristinn H. Gunnarsson, MP for the Liberal Party, brought the issue up by pointing out that if Reykjavík Energy’s (OR’s) holdings in Reykjavík Energy Invest (REI) are sold, the right to harness energy from resources, currently in the hands of HS, which REI holds a share in, would become private property.

Click here to read more about REI.

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