The board of Orkuveita Reykjavíkur, or Reykjavík Energy (OR), has agreed to have a new pipe channel geothermal energy from Hverahlíð to Hellisheiðarvirkjun power plant to boost electricity production and meet the energy demand.
Approval from the City of Reykjavík and other owners is a prerequisite. If approved, the pipe, which is estimated to cost ISK 2.6 billion (USD 22 million, EUR 16 million), will be completed at the end of 2015, Fréttablaðið reports.
OR’s loss due to impaired electricity production this year and next will likely amount to ISK 1 billion. Further losses are estimated for early 2015.
The only board member in disagreement of the plans was representative of the Left-Green Movement Sóley Tómasdóttir.
Sóley reasoned that channeling energy from Hverahlíð will continue to contribute to “aggressive” exploitation of the geothermal area and lead to “further experiments on top of the too speedy development over the past years and decades.”
Sóley would rather like to see OR seeking means to reducing electricity production.