Minister discussed Landsnet dispute without company CEO
Monday 2nd November 2026 on 22:15 in
Iceland
Finance and Economic Affairs Minister Daði Már Kristófersson discussed a dispute between Landsvirkjun and Landsnet with the Landsvirkjun board on January 6, without the company’s then chief executive, Hörður Arnarson, attending, mbl.is reported, citing meeting minutes obtained by Morgunblaðið.
The minister said it was undesirable for disagreements between the companies to appear in the media, and the board agreed, according to the minutes.
The board later said that the CEO or his deputy had attended meetings with the ministry at which matters concerning the company’s operations were discussed. But the January 6 minutes list neither Hörður nor a deputy among the attendees. The meeting was attended by the minister, five board members and two ministry officials.
Correspondence between Hörður’s assistant and the minister’s office on December 15 and 16, 2025, shows that a meeting had initially been planned for January 7 with Hörður, board chair Brynja Baldursdóttir and deputy chair Berglind Ásgeirsdóttir.
In a letter to Daði Már dated October 26, Hörður said he was told on December 23 that the ministry, at the finance minister’s request, wanted to change the planned meeting. He said he was no longer expected to attend and that the full board would meet with the minister instead. The agenda was also changed. The messages from December 23 about the change were not among the documents available.
Hörður said the board had decided in November 2025, at his suggestion, to request a meeting. He said the aim was to discuss concerns about changes in relations between Landsvirkjun and the ministry, and the serious consequences those changes could have for the company. In his letter, he also said the board had opposed meeting the ministry about the issue despite his repeated requests.
The January 6 meeting also covered the board’s role, governance and information-sharing between Landsvirkjun and the ministry. The minister stressed the importance of good communication between the board and the owner’s representatives, and the participants discussed formalising information meetings.
The minutes also say the meeting discussed a bond Landsvirkjun holds following the sale of Landsnet. The bond was considered in connection with dividend payments, but no proposal was put forward.