Electricity forecasts

The Energy Forecast Committee is a cooperation of several major companies, institutions and organizations in Iceland's energy industry, as well as Statistics Iceland and the National Registry. 

The electricity group of the forecast committee works on electricity forecasts that are issued every five years and recalculated annually based on new data on energy use and societal development.

About this Project

Energy Forecast Committee




The project's objective

Electricity consumption in Iceland is estimated for general use and existing energy-intensive industries until 2050 and divided into primary and secondary energy. The consumption is estimated separately for seven regions as well as for the entire country. The forecast is based on forecasts for population, number of households, GDP and production of individual industries.

Electricity depends on production volumes in industries as well as expected changes due to technological advances. The consumption is divided into six main categories as well as distribution and transmission losses. The load on the transmission system for each substation in the system is also calculated, based on detailed data about the actual load on the system in recent years.

Service Components

EFLA's role

  • Consultant
  • Operation of the energy forecast committee
  • Databases
  • Development of models
  • Calculating forecasts