Importing Icelandic Power


An ambitious project conceived by an Icelandic economist aims to connect Iceland and the UK with an undersea power cable, exporting electricity to Britain.The idea has been in the works for many years but has had its fair share of logistical problems.Both Prime Minister David Cameron and Icelandic Prime Minister Sigmundur Davíð Gunnlaugsson have assembled separate expert groups to weigh the pros and cons of the plan. The results of the investigations are expected to be released within the next six months.The project courted controversy in Iceland where it was feared the cable would lead to increased energy prices in Iceland and decreased jobs of Icelanders. However, Sigmundur was quick to assure people this would not be the case. Investor and economist Hreiðar Guðjónsson believes that Iceland might not even have to pay for the project at all.

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