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Landsvirkjun sells 85% of its electricity directly to clients in energy intensive industry and 15% is sold on the wholesale market.

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Segment

The competitive sales market for the sale and generation of electricity has existed since 2005. The wholesale market is a platform for trade in electricity between electricity suppliers. Landsvirkjun sells electricity on the wholesale market to suppliers who then sell the electricity on to other energy companies or retail sales to end users; both commercial and domestic.

Six suppliers buy electricity from Landsvirkjun. These companies buy some of their electricity from Landsvirkjun but also generate part of their supply at their own power stations.

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A new type of contract

Landsvirkjun introduced a new type of contract for the wholesale market in 2015 and have received a positive response. This type of contract is for interruptible power, pertaining to wholesale sales to industrial users.

The demand for electricity on the wholesale market increased as a result of increased market demand from commercial and domestic users.

Landsvirkjun participated in the bidding process for Landsnet’s transmission losses this year (as it has done in previous years). Landsvirkjun also continued to provide other ancillary services to Landsnet.

Further information on wholesale electricity