Reykjavík Energy Increases Price of Heating Skip to content

Reykjavík Energy Increases Price of Heating

The board of Reykjavík Energy (OR) decided at their meeting last Friday to increase the price of hot water by almost ten percent as of October 1. In effect, OR’s customers who live in a 110-square meter apartment will have to pay ISK 300 (USD 3.14, EUR 2.14) more for heating per month.

The increase in price from ISK 65.23 (USD 0.68, EUR 0.47) per cubic meter to ISK 71.56 (USD 0.75, EUR 0.51) without VAT (value-added tax) was confirmed by the Ministry of Industry this week, Morgunbladid reports.

An announcement from OR states that the reasons for the increase in price for heating is higher operating costs and the company’s investment in a new power plant on Hellisheidi heath. The statement pointed out that the price of heating has not increased since OR lowered the price of hot water in 2005.

At the end of August the board of the Confederation of Labor (ASÍ) encouraged the state and municipalities to show solidarity and stop increasing prices because every króna counts for households trying to save money during the economic downswing.

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