Storm Damage May Cost Up to ISK 300 Million Skip to content

Storm Damage May Cost Up to ISK 300 Million

The damage to power lines caused by Sunday’s high winds and blizzard could amount to ISK 300 million (USD 2.4 million, EUR 1.9 million).

storm_northiceland_landsbjorg_2Damage to power lines caused by the storm in North Iceland. Photo by Hlynur Snæbjörnsson.

Managing director of Iceland State Electricity operations division Örlygur Jónasson said the damage has been massive. “Most of the lines in the Mývatn area have been completely destroyed and need to be replaced, preferably with an underground system. All in all this will probably amount to ISK 200 million or more,” he explained.

Guðmundur Ingi Ásmundsson, vice-president of Landsnet, which operates Iceland’s electricity transmission system, estimates the damage to the system at ISK 80-100 million, plus the cost of oil reserves used while the power was out, taking the overall cost of damage in North Iceland to around ISK 300 million, reports.

Both Guðmundur Ingi and Örlygur stress that these are estimates only.

Electricity has been restored to most of Northeast Iceland. Seven farms in the Mývatn area were without electricity yesterday morning but Iceland State Electricity was brining in a new transformer.

Click here to read more about the storm.


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