Electricity prices for industries in Iceland are substantially lower than the prices offered in the USA or Canada. In comparison with Europe, Iceland becomes even more competitive.
Thus, Iceland is a very economical location for firms that have electricity as an important cost factor. This fact has for decades drawn energy-intensive industries such as aluminum smelting to Iceland. With rising energy prices around the world and especially in the countries within the EU, new types of industries and services are finding Iceland an increasingly attractive location.
Currently, Iceland’s main power producer is offering long term electricity contracts at a fixed price of 43 USD/MWh. You can read more about the energy related business opportunities in Iceland in our investing section.