Electricity that pays off!
With the N1 card or app you get our best contract price and 3% of the bill in points that work like krónur at stations across the country.
It is simple to setup and takes just a few minutes. Register below and we will handle the rest.
Price list for homes
| Rate | Price excl. VAT | Price incl. VAT |
|---|---|---|
| General use N1 cardholders | ISK 8.05/kWh excl. 24% VAT* | 9,98 kr./kWh |
| Electric heating N1 cardholders | ISK 8.05/kWh excl. 11% VAT* | 8,9 kr./kWh |
| General use Non-cardholders | ISK 8.83/kWh excl. 24% VAT** | 10,95 kr./kWh |
| Electric heating Non-cardholders | ISK 8.83/kWh excl. 11% VAT** | 9,8 kr./kWh |
| Guarantees of origin | ISK 0.50/kWh excl. 24% VAT** | 0,62 kr./kWh |
* Effective from 1 March 2026
** Effective from 3 January 2025
Billing and notification fees
Credit card payment – ISK 0
Online banking claim with electronic documents – ISK 130
Online banking claim with documents sent by post – ISK 590
Get a lower rate at night
Do you have a smart meter that reports your electricity use hourly? If so, you can get a fixed electricity rate between 2:00–6:00 AM.
Contact us to request the night rate and we’ll check whether your meter meets the requirements.
| Rate | Price excl. VAT | Price incl. VAT |
|---|---|---|
| Night rate N1 cardholders | ISK 5.92/kWh excl. 24% VAT | 7,34 kr./kWh |
| Night rate electric heating N1 cardholders | ISK 5.92/kWh excl. 11% VAT | 6,57 kr./kWh |
| Night rate Non-cardholders | ISK 5.92/kWh excl. 24% VAT | 7,34 kr./kWh |
| Electric heating Non-cardholders | ISK 5.92/kWh excl. 11% VAT | 6,57 kr./kWh |
Frequently asked questions
In short, it is very simple to switch and it costs nothing.
You sign in through the sign up form and we do the heavy lifting.
It does not cost anything to switch.
You need an active N1 card or an account in the N1 app, and your home electricity account must be registered under the same Icelandic ID number.
Yes, see the night rate information above.
You get 3% of your electricity bill back in N1 points if you have an N1 card or use the N1 app. One point equals one Icelandic króna, and you can use your points towards products and services at N1 service stations.
Your N1 card or app account must be registered under the same Icelandic ID number as your electricity account.
