In unison, Reykjavík Energy, Veitur Utilities, ON Power, and Reykjavík Fibre Network take on the societal role of ensuring that people enjoy water supply, sewage, electricity, district heating, and data services. The youngest family member, Carbfix, works diligently against climate threats. The most important responsibility of the RE family lies in ensuring that basic services are reliable and fairly priced, that there is customer satisfaction with the service, and that staff are satisfied to provide it.
Below is shown the development of the reliability of utility service delivery, customer satisfaction, and staff satisfaction.
* RFN's measurements of customer satisfaction were changed in 2019. Since then, in-house calls are made to approximately 100 customers every week, inquiring about services and contentment.
For the fifth consecutive year, ON Power topped the Icelandic Customer Satisfaction Awards among electric power suppliers. Results were announced in January 2024.
The calculation of delivery reliability is based on a method that has long been in use by electricity utilities. It is based on dividing the total duration of each disruption among the affected customers by all customers of each utility. Veitur adopted this method for district heating in 2015 and for the water supply in 2016. The chart is based solely on unforeseen disruptions when it is not possible to notify customers of the disruption in advance. Thus, service interruptions due to planned maintenance are not included. Due to data gaps, District heating figures for 2022 and 2023 are uncertain. Data transmission via Reykjavík Fibre Network is not licensed in the same way as the more traditional utility operations. However, RFN managers closely monitor the transmission security of individual parts of the data transmission system, its core, and access layers. RFN would probably be the most reliable utility if a similar metric were applied to the other utilities.
Since Reykjavík Energy was legally obliged to unbundle its operations, at the beginning of 2014, all tariffs for licenced services have decreased. The graph below shows how Veitur Utilities' tariffs have developed since the beginning of 2014 compared to the CPI, which is shown as a horizontal line. The real term reduction in water tariffs is 37%, 21% for electricity distribution cost, district heating tariffs have reduced by 2% in real terms, and sewerage tariffs by 9%.
Job satisfaction among all companies within the RE group is high compared to the Icelandic labour market. Since RE went through significant changes about a decade ago, employee satisfaction, according to regular workplace analyses, have been measured at a level of strength.
KPMG has compiled Reykjavík Energy's tax footprint for the year 2023. The tax footprint consists of taxes that are charged to RE's operations and the taxes that its subsidiaries collect and pay to the state, municipalities, and pension funds.
In the year 2023, Reykjavík Energy's tax footprint amounted to ISK 10,522 million. KPMG's report is attached here below (IS), in which it is also stated that RE's value creation amounted to ISK 61.7 billion in 2023.
