University of Iceland

An Econometric Assessment of Iceland Exporting/Importing Electricity

An Econometric Assessment of Iceland Exporting/Importing Electricity

"High Voltage Direct Current (HVDC) technology has many key benefits, especially in the case of transmitting electricity over long distances and the low percentage loss in power.  In the past, geographic isolation has prevented Iceland from participating in buying and selling electricity in competitive markets, but the increased production and recent advances made in HVDC technology has moved this option to the forefront of Icelandic discussions as another option to exploit its abundant natural resources, which are used to generate “green electricity” and primarily used to support heavy industrial processes," says Elizabeth Unger, doctoral student in Environment and Natural Resources with the Faculty of Civil and Environmental Engineering, University of Iceland.

"Exporting/importing electricity would have a radical impact to the Icelandic energy market and the different sectors.  The objective of this project is to build an econometric model that estimates the impact of exporting/importing electricity after the installation of HVDC cable to the different sectors of an economy in order to provide Icelandic decision makers with scenarios of potential impacts.  The project will provide a platform that will support future discussions that surround the topic of exporting/importing Icelandic electricity through a HVDC cable."

The project is funded by Orkuveita Reykjavíkur.

Doctoral committee:  Guðmundur Freyr Úlfarsson (advisor), Professor and Vice Head – Faculty of Civil and Environmental Engineering, School of Engineering and Natural Sciences; Þórólfur Geir Matthíasson, Professor – Faculty of Economics, School of Social Sciences.

 

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