Reykjavik Energy Group has seven subsidiaries, each under separate governance. Reykjavik Energy Group's Board members are required, among other things, to possess knowledge, skills, and experience necessary for performing their duties. Members of the Boards of Directors of the Group's subsidiaries are also expected to fulfill equivalent requirements.

Reykjavik Energy Group's Board commissions two committees, the Compensation Committee and the Audit Committee. The Chairperson of the Compensation Committee is female. The Audit Committee is joint with Reykjavík City, and the Board of Reykjavik Energy Group appoints a representative for the committee. That representative is female.

There are a total of 37 seats on various boards of the consolidation. The Boards of Reykjavik Energy Group and RE Assets (Eignir), ON and ON Power, are appointed the same representatives. Appointed for these 37 seats are 18 women and 19 men. Women act as Chairpersons in five of seven boards: the Board of Reykjavik Energy Group, and thereby Reykjavik Energy Group, RE Assets, Veitur Utilities, ON, and thereby ON Power. Two observers are appointed to the Board of Reykjavik Energy Group, one female and one male.