Reykjavik Energy, Veitur Utilities, ON Power, and Reykjavik Fibre Network, are responsible for ensuring public access to potable water, sewerage system, electricity, district heating and a fibre network. The most recent subsidiary, Carbfix, battles the climate crisis.

The reliability of these basic services at an affordable price and customer satisfaction are the Group's main corporate social responsibilities. However, it is not only important to provide these services, but also how these services are rendered.

Below, the track record for reliability is shown as well as customer satifaction and employees' job satisfaction.

Customer satisfaction 2017-2022

* Reykjavik Fibre Network's measurements of customer satisfaction were changed in 2019. Since then, in-house calls are made to approximately 100 customers every week, inquiring about services and contentment.

ON Power tops Icelandic Customer Satisfaction fourth year running

For the fourth consecutive year, ON Power topped at the The Icelandic Customer Satisfaction Awards among electric power suppliers. Results were announced in January 2023.

Ánægjuvogin - svart letur

Reliability of the utilities

Veitur Utilities uses a tried and tested method for measuring the continuity of supply. The total disruption time for each customer for the year is added up and then divided between all the customers of the utility in question. Veitur adopted this method for district heating in 2015, and for the water utility in 2016. The graph is calculated on basis of sudden disruptions, when customers cannot be informed in advance.

Veitur's tariff development

Since Reykjavik Energy Group was legally obliged to unbundle its operations, at the beginning of 2014, all tariffs for licenced services have decreased. The graph below shows how Veitur Utilities' tariffs have developed since the beginning of 2014 compared to the CPI, which is shown as a horizontal line. The real term reduction in water tariffs is 28%, 24% for electricity distribution cost, district heating tariffs have reduced by 6% in real terms, and sewerage tariffs by 3%.

Development of tariffs for licenced services 2014-2022 compared to CPI

Job satisfaction

The Reykjavik Energy Group has undergone considerable changes in recent years. According to regular workplace analysis, job satisfaction has increased, and has been measured as high since 2014. The year 2020 was unusual, due to the pandemic, and it certainly had an effect on the workplace. Nevertheless, job satisfaction increased from the year before, but a slight decrease is apparent in 2021 and remains the same in 2022. Job satifaction at Reykjavik Energy is still high, compared to the Icelandic market. In the year 2019 a target of 4.5 was set to be reached before the end of 2023.

Reykjavík Fibre Network completes the circle

Reykjavík Fibre Network is extending its national infrastructure network to improve the security of electronic communications all around Iceland.

Tax footprint

KPMG has compiled Reykjavik Energy Group's tax footprint for the year 2022. The tax footprint consists of taxes that are charged to the Group's operations and the taxes that its subsidiaries collect and pay to the state, municipalities, and pension funds.

In the year 2022, the Group's tax footprint amounted to ISK 8,919 million. KPMG's report is attached here below (IS).