New policy

A new future vision and policy for Landsnet was formulated in 2015 after Guðmundur Ingi Ásmundsson took over the reins as President & CEO at the beginning of the year.

The key aim of the policy reformulation was to better ensure that Landsnet is prepared to meet future challenges with regard to the grid’s development. The company’s organisational structure was also changed to better support the new policy. This involved the creation of five new core divisions and the appointment of Executive VPs in charge of these divisions.

Landsnet’s organisation chart

The organisational changes took effect on 1 June 2015. Landsnet’s activities are now divided into Corporate Services & Communications, Finance, Technology & Development, System Operations and Constructions & Grid Services. A Stakeholders Forum will serve as a formal advisory organ for consultation and discussion about the grid’s development and the future needs of Landsnet´s customers.


Our role

Landsnet’s role is to ensure cost-efficient development and operation of the grid and a secure and uninterrupted electricity supply, an essential requirement for any modern society. Our role also includes maintaining a balance between electricity supply and demand at all times in the electricity system.

Landsnet thus plays a central role in ensuring that Iceland’s people and economy have a secure supply of electricity at all times.

Ensuring and maintaining the grid’s long-term capacity and maintaining a balance between electricity supply and demand at any given time

Our future vision

At the core of our future vision is an “electrified future” in keeping with society’s needs and expectations. Modern societies increasingly rely on a secure supply of electricity, making it necessary to strengthen the grid.

Landsnet is committed to ensuring a secure supply of electricity in the future and maintaining a balance between generation and consumption. We will work to form as broad a consensus as possible on the way ahead, with due consideration for societal needs at any given time. We will treat the natural environment responsibly.

Landsnet places priority on fostering a healthy electricity market environment and efficient use of financial resources.

An electrified future in tune with society

Our values

In parallel with formulating new policies, our employees adopted a new set of values to guide customer and inter-employee relations.

Landsnet’s core values – responsibility, co-operation and respect – shape its culture and outlook, including the views and behaviours of our staff. Our values are designed to inspire professionalism and support effective decision-making.

  • Respect involves a positive and tolerant attitude towards the opinions and work of others.
  • Co-operation is reflected in team cohesion and in listening to different viewpoints.
  • We conduct our work responsibly in accordance with the important societal role played by Landsnet.


Our corporate policy


Landsnet’s corporate policy is based on the company’s role and future vision and aims to ensure that we perform our duties with care and diligence and in the best possible harmony with society and the environment.

The corporate policy sets out a promise to society to ensure a secure electricity supply, a high-quality grid, a high level of operational security in the future, harmony with society and the environment, efficient operations, informed debate and effective management and organisation. The promises are:


A secure electricity supply – a high-quality, secure grid for the future

Landsnet is committed to ensuring that that all citizens, whether individuals, companies or public bodies, have access to electricity in the quantity and quality needed at all times. Future priorities are defined, including reliability, security and quality criteria. Landsnet will work towards a broad consensus on the rationale underlying decisions on infrastructure development and investment.

In harmony with society and the environment

Building a social consensus on Landsnet’s role and aims will be an important enabler of progress. Such a consensus requires an understanding among the general public that the grid is one of the mainstays of our society. Landsnet therefore works towards raising awareness of its role, activities and importance as one of modern society’s fundamental facilities. This requires a focus on corporate social responsibility intertwined with our policies. The company will seek to initiate and maintain a continuous dialogue with stakeholders – a dialogue characterised by honesty, responsibility, open-mindedness, mutual respect and a co-operative spirit. We will strive to minimise the environmental impact of the grid’s operation and development.

Prudent use of funds – effective operations

Grid strengthening and a focus on bottleneck elimination will support a healthy investment environment for participants in the energy market and serve to reduce waste in the electricity sector as a whole. We take a “cradle to grave” approach to the grid when making decisions on investment and activities, with due consideration paid to the national interest. We manage and use the funds entrusted to us in a prudent manner, including proper stewardship of financial and other resources and cost-effective grid development, construction and operation.

A clear image

Landsnet seeks to build a clear corporate image of professionalism, trust and social responsibility. We strive to be a modern and forward-looking company that looks for a variety of solutions with an open mind in the overall public interest. We are committed to thorough, readily understandable and honest communication of information.

Strategic management and organisation

Landsnet’s organisational structure must support its role, policy and activities in a clear and targeted manner, including the company’s promises to its customers and society at large. We place importance on a simple and effective organisational structure with strong main functional divisions and clear lines of responsibility that allow for a holistic overview of processes. In parallel, focus is placed on continuous improvements to simplify processes and step up efficiency and effectiveness. We use methodical practices and procedures and strive for continual improvement based on international management standards. We meet the requirements applicable to our activities, including legal and other requirements.

A good workplace

Landsnet shows due care for all its employees. This includes providing them with opportunities to engage in exciting work and develop their skills in a professional and ambitious environment. We are committed to creating a good workplace whose culture and relations are shaped by our corporate values and whose employees are afforded opportunities to develop and progress. Our corporate culture is characterised by service-mindedness and due care for the needs of our customers, staff, society and the environment. We work continually to improve health protection, safety and operational security and attach importance to cultivating a shared outlook among our staff on the company’s values, purpose and role