Primary energy sources
Reykjavik Energy Group produces renewable energy, electricity, and hot water for district heating, from geothermal energy and hydropower, and uses part of this energy production for its own operations. The main sources of energy, which are used for the Group's operations, are electricity and hot water, which are 99.9% renewable.
At Reykjavik Energy Group, the effect of the climate change on its operations is mapped, since the resilience and ability to adapt of its utilities is affected by it and has direct effect on its operations, as well being the basis of quality of life for people and businesses. See further discussion on the effect of the climate crisis in E8 Climate Risk Supervision / BoD and E9 Climate Issue Supervision / Management.
Renewable energy intensity
Energy intensity is identified as energy need per unit of indicator in the relevant operations, e.g. production, revenues or manpower.
The renewable energy intensity of Reykjavik Energy Group is high, as operating utilities and power plants is energy intensive. Almost all the energy, needed for these operations is derived from renewable energy sources, as for 1 MJ of non-renewable energy used by the Group, 1062 MJ are renewable.