Vonarskard is the operator of the Icelandic Power Exchange for electricity. Commencing operations in April 2024, Vonarskard's goals are to improve transparency and efficiency in the wholesale trading of electricity in the country. Iceland's electricity generation is 100% renewable due to the utilization of hydro and geothermal energy sources. The utilization of these resources plays a key factor in the long-term, sustainable success of the country's economy and society. Vonarskard's trading services are tailored to the needs of the power companies in Iceland and the unique requirements of operating a market composed only of renewable energy resources on an isolated island.

Fee structure

Vonarskard's goal is that the cost of operating the Icelandic Power Exchange does not exceed ISK 4 million per month (approximately EUR 27 thousand). Most of the market's operations are outsourced to minimize costs, including IT and legal services.

Vonarskard has agreed with market participants that operating costs are divided between them in line with their turnover. The division of costs are reviewed every 6 months.