Iceland

Index rank 33

Balance Score

ABC

Energy Sustainability Index Rankings and Balance Score

 2011  2012  2013  Trend Score
Energy Performance  45  43  40   
Energy Security  98  98  96  C
Energy Equity  13  12  15  A
Environmental Sustainability  42  40  41  B
         
Contextual Performance  39  28  26   
Political Strength  15  17  15   
Societal Strength  5  7  7   
Economic Strength  111  71  70   
         
Overall Rank  38  32  33  ABC
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Fossil Fuel Reserves

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Key Metrics

Industrial sector (% of GDP) 24.4
TPEP / TPEC  (net energy importer) 0.80
Emission intensity (kg CO2 per USD) 0.20
Energy affordability (USD per kWh) n.a.
GDP / capita (PPP, USD); GDP Group 38,039 (I)
Energy intensity (million BTU per USD) 0.61
CO2 emissions (metric tons CO2 per capita) 6.67
Population Access to Electricity (%) 100.0
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Index Commentary

Iceland slips one place in this year’s Index, while exhibiting minimal overall change in performance across all energy and contextual dimensions. Iceland, which performs quite well on the energy equity dimension and mitigates its environmental impact fairly well, struggles with providing energy security. The country’s energy consumption growth rate, in particular, has historically been quite high, although the country has made some successful efforts to slow this growth recently. Furthermore, Iceland is heavily reliant on hydropower and has no strategic oil stocks, two things that also contribute to its low energy security rank. Iceland’s energy equity remains among the best in the world, as it provides its citizens with affordable, quality energy. Environmental sustainability performance is also fairly good, especially as Iceland’s electricity fuel mix is virtually emission-free. The big blemish here is the country’s high level of energy intensity. Contextually, this year sees small improvements all across the board, although macroeconomic stability remains very low, but improving, in the wake of the recent collapse of the country’s banks.