The national power company Landsvirkjun believes Icelanders should weigh the pros and cons of exporting electricity via undersea cable to other countries.
Vísir reports that the idea actually goes to 2008. At that time, Landsvirkjun examined the idea of exporting electricity to Europe using an undersea cable. According to their findings, such an undertaking would be profitable. A similar cable runs between Norway and the UK via Holland, so the theory does work in practice. Last week, at a meeting of the Engineers’ Society of Iceland, Landsvirkjun employee Jón Ingimarsson said that more research had been done on the idea.
Landsvirkjun believes the cable could go in four possible directions: to either the east or west coast of Scotland, to Holland, or to Norway. The cable to Holland would from there connect to the rest of mainland Europe.
Although selling electricity via undersea cable could allow Landsvirkjun to charge up 50% more for the same electricity, Landsvirkjun director Hörður Arnarson believes Icelanders should spend the next two to three years considering the pros and cons of the idea before a final decision is made.