National Power Company sale criticized

The City of Reykjavik sold its 45% share in the National Power Company (Landsvirkjun) earlier this week to the Icelandic Government and at a city council meeting yesterday the sale was highly criticized. The city council‘s opposition point out that the sale is a preparation for selling the Power Company to the private sector, which would evidently lead to higher energy prices. They oppose and warn against the energy companies and energy resources ending up in the hands of private owners.