The Ministry of the Environment (Umhverfis-, orku- og loftslagsráðuneytið) has started work to clarify Iceland’s environmental impact assessment regulations. The work focuses on how risk assessments should address secondary impacts of natural hazards, such as accidental escapes from marine aquaculture caused by floods. According to mbl.is, it is not yet known what specific changes will be made to these regulations.
Mbl.is first reported that the ministry has reissued its draft regulation on transparency and conduct in the wholesale electricity market. The new draft is available for public consultation on the Icelandic government consultation portal. The previous version, published in the summer of 2026, received a range of comments from the public and stakeholders. The ministry reviewed this feedback and made substantial amendments to the draft text.
The revised draft simplifies how recognised market practices are described and brings the language closer to that used in the Electricity Act. Key changes include a reorganisation of data reporting and a clearer distinction between reporting required under Article 20.i and other information that the National Energy Authority (Raforkueftirlitið) can request under Article 25. Technical requirements for data submissions now reference guidance from the National Energy Authority more than before, streamlining how electricity companies comply with the rules.
The proposal implements Articles 20.a to 20.i of the Electricity Act No. 65/2003, covering public disclosure of inside information, rules for postponing disclosure, recognised market practices, data reporting requirements, measures to prevent and analyse market abuse, and how companies must notify the authorities of suspicious transactions. The new regulatory draft follows the adoption of Electricity Act No. 45/2026, which introduced prohibitions on insider trading, unlawful disclosure of inside information, and market manipulation for wholesale electricity products.
Members of the public and industry stakeholders can submit comments on the revised draft regulation via the government’s consultation portal until 27 October 2026.
Background
Sources
Links: kemur fram í svari
- Stjórnarráð Íslands (Government of Iceland) in Icelandic
- mbl.is (first reported) in Icelandic
