Elkem is planning to have its Icelandic ferrosilicon smelter around for a long time. The Norwegian company started negotiations with the national utility, Landsvirkjun, to extend the power contract by another ten years; the current agreement ends in 2019. The two sides are negotiating the contract price; the companies have agreed upon the appointment of the members of the arbitral tribunal that will decide the electricity price during the extended period.
Elkem is Landsvirkjun’s fourth largest customer. The power contract amounts to 127 MW and 1,035 GWh.