Governance
Reykjavík 1987
Reykjavík 2021
Reykjavik Energy Group's corporate governance strategy is designed to ensure professionalism, efficiency, cost effectiveness, transparency and responsible management. The principal operations of Reykjavik Energy Group are governed by Act no.136/2013. In 2014, the collective ownership contract on operations were renewed by the owners of the company. The ownership strategy was also revised. The strategy dictates corporate governance. In drafting these documents, accepted for all the subsidiaries, and Rules of Procedure for all the Boards, account guidelines, as established by the Chamber of Commerce in collaboration with SA the Confederation of Icelandic Enterprise and Nasdaq, were taken into account.
Reykjavik Energy Group's corporate governance strategy is considered to be in compliance with these guidelines.
Owners of Reykjavik Energy Group
The basic structure of Reykjavik Energy Group
Veitur Utilities operate electric, heating, potable water, and sewer utilities, mainly exclusively licenced operations. ON Power generates electricity and heat in power stations, and sells electricity in a competitive market. Reykjavik Fibre Network operates a fibre optic telecommunications network, serving homes and businesses. Carbfix is a start-up company, established for the dissemination of the carbon dioxide mineralisation method. The parent company – Reykjavik Energy Group – is a serving parent company, supporting the subsidiaries with various central services.
