Role of Elma

Elma Orkuviðskipti is a company dedicated to providing market participants with a secure, reliable, and transparent electricity market in Iceland.

Elma operates a day-ahead market and an intraday electricity market in cooperation with Nord Pool, a leading service provider in the European electricity market. In the day-ahead market, electricity is traded one day before delivery, while the intraday market enables continuous trading closer to the time of physical delivery.

Elma acts as the central counterparty for all trades, becoming the buyer to every seller and the seller to every buyer. Elma handles the financial settlement of transactions and assumes counterparty and settlement risk. In doing so, Elma supports secure, timely and predictable settlement, greater market transparency, and more efficient price formation.

Elma also offers an electronic auction market for long-term contracts, where market participants can buy or sell customised products tailored to their specific needs and priorities.

Elma is a subsidiary of Landsnet hf. and is fully owned by the transmission system operator.

Our team

The chairman of the board of Elma Orkuviðskipti is Páll Harðarson.