Iceland Business Forum 2023

The Icelandic Chamber of Commerce held its annual Business Forum on 9 March 2023. This time the Business Forum was entirely dedicated to the topic of energy, with presentations and insights from various stakeholders and players in the market, including the Government of Iceland, the National Energy Authority, municipalities, Samorka (the federation of energy and utility companies in Iceland), wind power producers, and Snerpa Power. 

Íris Baldursdóttir, CEO and Co-founder of Snerpa Power, gave a presentation on the importance of balancing the grid and how the activation of power intensive users improves the utilization of energy resources and contributes to a more efficient, sustainable and competitive power system. She emphasized the importance of activating, not only the production side of the electricity market, but also the user side. She stated that resources readily available on the user side are hibernating and largely underutilized, resulting in a sub optimum power system. Looking forward, it is urgent to activate these resources for balancing and other short term services that are urgently needed to ensure a stable and balanced net zero power system.