About RARIK

RARIK (Iceland State Electricity) is a 100% state owned enterprise (SOE), founded in April 1946 and started operations in January 1947. Its function and main responsibility through the years has been the electrification of most parts of Iceland, particularly the rural areas. The main tasks being to procure, distribute and sell electricity in its operating area and thus provide and create added value to its customers.  
 
By devoting its energy to building an electric power transmission and distribution system for the country’s rural as well as urban areas, RARIK has played an important role in the development of individual regions in the country.  
 
Electrical and industrial development went hand in hand in Iceland. RARIK played the principal role in the electrification of Iceland’s rural areas and now provides electricity via the grid system to around 60 population centres around Iceland. Its distribution network covers around 80-90% of the country’s inhabited areas and serves approximately 15% of the population. The length of the high voltage distribution network is ca 10,000 km and although originally all high voltage distribution was via overhead power lines, by end of 2023 77% of the lines had been replaced with underground cables.  
 
Following the passage of a new Icelandic Electricity Act in 2003, a number of significant changes took place in the field of energy production, transportation, distribution and sales. In accordance with the new act an independent company, Landsnet hf, began operation on the 1st of January 2005. This company was created to organize the transmission of electric power between different parts of Iceland and to its largest population centres. RARIK owned a 22.5% share in Landsnet hf., which it sold to the Icelandic government in 2022. 
 
The new act also meant that consumers were able to choose their electricity supplier, and thereby competition was initiated in the field of electricity sales in Iceland.  
 
In accordance with the new act, RARIK was incorporated in July 2006, and this limited company took over all activities of the State Electric Power Works as off the 1st of August 2006 – just 60 years after Parliament adopted the act on the Establishment of the State Electric Power Works. RARIK’s operations were divided at the beginning of the year 2007 into its concessioned activities, which are operated by the parent company RARIK ohf., and its competitive business activities, which were transferred to a subsidiary, Orkusalan ehf.  
 
The subsidiary, Orkusalan ehf., produces, buys and sells electricity to homes, businesses and institutions throughout the country and is 100% owned by RARIK.  
 
In 2008, a new subsidiary was established, RARIK Energy Development Ltd (RED), also 100% owned by RARIK. The main task of this subsidiary is energy research and development, both domestically and abroad.  
 
In addition, RARIK owns and operates five hot water supply utilities, four geothermal utilities and one district heating ones. The number of employees of RARIK and its subsidiaries at the end of 2022 was 234. Magnús Þór Ásmundsson is the Managing Director of RARIK.

RARIK plc.

Address:

Dvergshöfði 2,

110 Reykjavík

Iceland

Social ID number: 520269-2669
VAT.No. 18809
E-mail: rarik@rarik.is
Tel: 528 9000
Fax: 528 9009

Opening hours for RARIK offices in Reykjavík and district offices: 9:00-16:00 Mon-Thu and 9:00-15:00 on Fridays.

To report power problems:

Western Iceland - 528 9390
Northern Iceland - 528 9690
Eastern Iceland - 528 9790
South Iceland - 528 9890