ABSTRACT
This chapter surveys the short history of coal mining in Iceland, as an introduction to the country’s energy system, which is nowadays based on abundant renewable energy resources. Electricity is cheap, plentiful and carbon-free, rendering energy-intensive business such as aluminium smelting and bitcoin mining profitable and uncontroversial. Around 75 per cent ofn the electricity in Iceland is generated by Landsvirkjun, the fully state-owned energy company. Such an ownership structure, as much as societal attitudes towards energy, have traditionally deprioritised energy branding and marketing. When Hordur Arnarson, CEO of Landsvirkjun, joined the company, it did not have a marketing department. Given Iceland’s potential to generate clean power in excess of current domestic needs, the marketing challenge for Landsvirkjun is positioning Iceland either as an exporter or attractive investment destination. This is because carbon-free electricity can be used to differentiate goods and services.
