Through Reykjavík Energy's four subsidiaries, resources are used in a sustainable and cost-effective way to serve households, companies and institutions in accordance with statutory obligations at a fair and competitive price.

Veitur Utilities ohf.

Veitur Utilities ohf. was created when Reykjavik Energy was unbundled at the beginning of 2014. Veitur Utilities is the biggest utility company in the country. Three quarters of the population use the company’s district heating, about half the population are connected to its electricity grid and four out of ten of Icelanders use the water utilities and sewerage systems of Veitur Utilities ohf.

ON Power

ON Power started operations in early 2014. The company produces and sells electricity to Icelanders from the geothermal power plants in Nesjavellir and Hellisheiði, and the Andakílsá hydroelectric power plant. The geothermal plants at Nesjavellir and Hellisheiði also provide hot water that accounts for heating in around half the homes of the greater Reykjavik area.

Reykjavik Fibre Network

In 2007, the Reykjavik Fibre Network was separated from the exclusively licensed part of Reykjavik Energy’s management. It sells households and businesses access to fibre optics, a high speed data transmission system that boosts the competitiveness of Icelandic society. The Reykjavik Fibre Network is an open system through which all service providers are permitted to sell their services, offering the fastest available connection. Its customers are both companies and individuals who live and work in the servicing areas, which currently extend from Bifröst to the Westman Islands.


In late 2019, Carbfix was established as a subsidiary within the OR Group. The aim of establishing a special company around the carbon mineralization process, developed at Reykjavík Energy, was, among other things, to further promote Carbfix' utilization and thereby improving performance in climate affairs.

In addition to the four servicing companies within the Reykjavík Energy, there are three companies that do not have independent operations and serve accountancy functions. These are Reykjavik Energy - water and sewerage systems sf., Reykjavik Energy - eignir ohf. and ON Power ohf.