Background
Research on Iceland’s energy resources goes back to the 18th century. Systematic energy research by Icelandic government institutes started in 1944 and has been carried out continuously ever since. Iceland GeoSurvey and its predecessor have from the outset played a key role in this work. This research and the activities of the Icelandic power industry have resulted in that over 50% of the primary energy use in Iceland at the present has its source in geothermal energy.
In accordance with the European Union’s directive, the Icelandic parliament adopted in 2003 laws on the deregulation of the electricity market in Iceland. The supervision of the deregulated market was transferred to Orkustofnun, as well as increased role in administrative and regulatory work regarding management of non-biological natural resources. As a consequence, the research activities and related services were separated from Orkustofnun and Iceland GeoSurvey was formed in July 2003.
