Reykjavik Energy Group's corporate governance strategy is designed to ensure professionalism, efficiency, cost effectiveness, transparency, and responsible management. The principal operations of Reykjavik Energy Group are governed by Act no.136/2013. In 2014, its owners renewed the Partnership agreement on operations were renewed by the owners of the company, as well as revising the ownership strategy, dictating its corporate governance. The drafting of these documents, which apply to all the subsidiaries and provide rules of procedure for all the boards, was done in accordance with account guidelines, as established by the Chamber of Commerce in collaboration with the Confederation of Icelandic Enterprise (SA) and Nasdaq.
Reykjavik Energy Group's corporate governance strategy is considered to be in compliance with these guidelines.
In 2022, the City of Reykjavík, the largest owner of Reykjavik Energy, adopted a general ownership strategy that takes into account the OECD's guidelines for the governance of publicly owned entities.
The City of Reykjavík is leading the implementation of its policy regarding Reykjavík Energy.
Veitur Utilities operates electric, heating, potable water, and sewerage utilities; mainly exclusively licenced operations. ON Power generates electricity and heat in power plants, and sells electricity in a competitive market. Reykjavik Fibre Network operates a fibre optic telecommunications network, serving homes and businesses. Carbfix is a start-up company, established to expand its carbon dioxide mineralisation technology. The parent company – Reykjavik Energy – is a serving parent company, supporting the subsidiaries with various central services.
