REI Investigative Committee Reaches Conclusion Skip to content

REI Investigative Committee Reaches Conclusion

By Iceland Review

Svandís Svavarsdóttir, Left-Green representative in Reykjavík City Council and leader of a multi-partisan investigative committee into the legality of the Reykjavík Energy Invest (REI) and Geysir Green Energy (GGE) merger, will hand in the conclusive report today.

The committee has already revealed that it finds clearer regulations about the operations of Reykjavík Energy (OR), in which Reykjavík City holds a stake, are required as well as in regards to consequential decisions made by the company’s board of directors, Morgunbladid reports.

The committee also concluded that the REI case should be considered as a lesson on how Reykjavík City should not be operated.

The committee emphasized that every political party in Reykjavík City had a seat in it and thus reached a joint conclusion, though certain compromises had to be made before everyone could agree to it.

The REI debate had serious consequences for the original Independence Party-Progressive Party majority coalition within Reykjavík City Council.

Following the debate, Progressive Party member Björn Ingi Hrafnsson decided to terminate his cooperation with the Independence Party and create a new majority coalition in the city.

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