Landsnet hf was established on the basis of the 2003 Electricity Act. Our role is to operate Iceland’s electricity transmission system and administer its system operations.
Landsnet operates under a concession arrangement. Our activities are subject to regulation by the National Energy Authority (Orkustofnun), which determines the revenue framework on which our tariff is based.
Our Board of Directors is independent of other companies engaged in the generation, distribution or supply of electrical power. Landsnet may only engage in activities necessary to perform its statutory duties.
The company is authorised to operate an electricity trading market and aims to launch such a market in the near future.
The 2003 Electricity Act entrusted Landsnet with issuing certificates attesting that electricity is produced from renewable energy sources.