Hydropower plants help Landsvirkjun keep power prices low

REYKJAVIK, Iceland 12/1/11 (PennWell) — Icelandic utility company Landsvirkjun provides the most competitive rates for power in Europe, the company announced at its annual fall meeting.

Landsvirkjun offers rates starting at US$43 per MWh to industrial companies with contracts lasting up to 12 years. “These are Europe’s most competitive rates in terms of price, length of contract and the fact that on top of that we offer 100 percent green and renewable power,” says Magnus Bjarnason, executive vice president for marketing and business development with Landsvirkjun.

Landsvirkjun is Iceland’s largest producer of electricity and owns 13 hydroelectric power stations with a total capacity of 1,800 MW. Plans for a new power station on the Koldukvisl River are expected to be finalized in 2014.