Magma Energy corp has bought the geothermal power station ( HS Orka ) located near Keflavik in Iceland.And according to Icelandic law, the only companys that can invest in Iceland power supply, must be located in the Europian union.
But Magma Energy corp. is a Canadian company.
So to buy Iceland Power company, the made a little company in Sweden, and bought the Geothermal power company.
The energy , electricity,heating and water, is very cheap in Iceland.
It is all owned by the goverment , or the towns in Iceland.
But when you privatize the energy ,the price will go up,and fast.
Here in Iceland , people are not paying much for hot water and electricity.
In the countries in Europe, they use Oil ,which is not cheap,and electrisity is not cheap either.
There is no activity in Magma Energy Sweden ,only a office with two lawyers.
And according to local news in ICeland, the Industry Minister, told Magma Energy , how to get by Icelandic laws,and buy the local power company.
Make a dummy company in Sweden ,and then buy the HS Orku in Keflavik.
The Industrial Minister ,Katrin Juliusdottir,says that she did not tell Magma ,how to bypass Icelandic laws.
But the CEO of Magma in Iceland,syas that the Industrial Ministry ,told them how bypass Icelandic laws.
Many in Iceland look on this, as a treason by the Minister,towards the Icelandic public.
The Enviromental minister,Svandís Svavarsdóttir, is angry at the news about the buying, and says that it is illeagal ,to sell power companys in Iceland to foreign companys.
Photo - top: Svandís is in the Left Green Movement
photo- -below : Katrin is in the Social Democratic Alliance