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How Iceland's industry benefits from being outside of the common energy market

Surging energy prices have been one of the many consequences of the war in Ukraine. This has mainly been felt in Europe since sanctions against Russia have led to considerable cuts in gas imports from there which in turn has pushed prices up.
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Geothermal energy

Krafla Power Station, located in the Krafla caldera, northern Iceland, is the largest geothermal power station. It is able to produce 500 GWh of electricity annually, with an installed capacity of 60 megawatts.

Photo: Villy Fink Isaksen, Wikipedia

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