Terms and Conditions

1. Introduction:

Here below are the general terms and conditions of Orkusalan ehf. ("Orkusalan"), id. 560306-1130, Urðarhvarf 8, 203 Kópavogur, which shall apply to all business- and contractual agreements between Orkusalan and its customers, regardless of customer´s location, including electricity sales contracts, unless otherwise agreed upon. When a customer enters an electricity sales contract for the purchase of electricity, whether the contract is written, online or oral, the customer agrees to have gotten to know and agreed to said terms and conditions and Orkusalan´s terms and conditions at any time are part of the customer´s electricity sales contract with Orkusalan according to regulation no.1150/2019.

Orkusalan sells electricity to customers according to regulation no. 65/2003, with later changes, regulation no. 1040/2005 regarding implantation of the Electricity act and regulation regarding electricity sales and metering no. 1150/2019.

An electricity sales company is exempt from the provisions of the consumer purchase act no.48/2003 and law regarding Sale of goods no. 50/2000. It should be noted that these terms and conditions only refer to electricity sales, not the transmission or distributions, as parties other than Orkusalan oversee and are responsible for the transmission and distribution of electricity.

To the extent that Orkusalan´s customers are consumers, Orkusalan will ensure that the disclosure obligation shall always be in accordance with the relevant laws and regulations.

2. Usage, prices and payment terms.

When entering an electricity sales contract with Orkusalan a customergives mandate to Orkusalan to collect information on electricity usage for said customer. The mandate extends to, among other thing, information regarding meter number/distribution, distribution utility area, address, distribution utility tariff, estimated annual usage, average usage, last meter reading, metering method, meter reading, multiplication factors and number of digits on the meter. With signing of an electricity sales contract, a customer also authorises Orkusalan to inform Netorka about the start of business or a change of an electricity sales company, if the customer has been in business with another electricity sales company.

In the case where the utility is based on time measurements, usage figures are delivered up to 24 months back. The customer's electricity consumption, when concluding an electricity sales contract, is used to determine the energy consumption plan. In the case of a new customer who has not previously purchased electricity, Orkusalan is authorized to estimate said customers electricity usage, taking into account similar usage.

If nothing else is agreed upon, Orkusalan's price for the sale of electricity to households and businesses depends on Orkusalan's current price list at any given time (kr/kWh). The price list can be found on Orkusalan'swebsite, the price can also be seen on the bills from Orkusalan. Changes to the price list are announced on Orkusalan´s website and take effect upon publication unless otherwise stated. Additionally, customers can request information about current prices at any time from Orkusalan. The electricity price only includes the price of the electricity sales part. Orkusalan also collects taxes and charges for electricity consumption in accordance with the current legislation at any given time. Orkusalan issues monthly payment claims to the bank for the electricity consumption for the past month. The due date of the invoice shall be the 2nd day of each month or the first business day thereafter. Orkusalanreserves the right to charge a fee for invoices sent to customers in paper form. The fee must be stated on invoices and appear in the price list.

3. Beginning of a contract

If a customer is not already a customer with a different electricity sales company the contract with Orkusalan takes effect when signed. If a customer is already a customer with a different electricity sales company and switches, with a contract with Orkusalan, the contract takes effect in accordance with regulation on electricity sales and metering, No.1150/2019 Art.10, and in addition, the provisions of Chapter 9 of Netmála B6 ("Communications between parties in the electricity market with basic, measurement and settlement data") set by Landsnet hf. More specifically, the start time of Orkusalan's service to a customer may vary depending on when the electricity supplier receives the termination of the previous contract:

- if the termination of the previous contract is received by the electricity supplier more than 3 weeks before the end of the current month, Orkusalan's service can start on the 1st day of the following month.

- if the termination of the previous contract is received by the electricity supplier during the last 3 weeks of the current month, Orkusalan's service can start on the 1st day of the following month.

In accordance with the Consumer Contracts Act no. 16/2016, within the meaning of the law, consumers are allowed to withdraw from the contract by notifying the seller within 14 days of signing the contract. The costs for such a thing depends on the provisions of the law.

4. Termination of a contract

Orkusalan and customers ´ electricity sales contract is indefinite unless otherwise agreed. Both parties of the contract may terminate the electricity sales contract with a 3-week notice, unless other is specifically agreed, the termination takes effect the first day of the next month after the notification thereof.

5. Invoices, debt collection and disconnection of energy supply

If a claim is not paid on the final due date, penalty rates are calculated on the invoice according to paragraph 1. Article 6 Act on interest and indexation no. 38/2001 from the final due date to the payment date.Orkusalan collects all financial claims that fall on the due date according to the rules that apply to their collection at any given time. In addition to late payment interest, Orkusalan collects all collection costs according to current regulations. After the final due date, Orkusalan sends a written challenge to the customer informing them to pay the electricity debt along with a warning that in the event of non-payment, the energy delivery can come to a stop in accordance with the provisions of regulation no. 1150/2019 cf. Art. 11.

If the collection of the claim proves unsuccessful, Orkusalan has the authority, with the electricity distributor, to put a stop to the delivery of electricity to a customer, until Orkuslan´s unpaid claims are paid in full along with the costs. Source is in Article 43. Electricity Act no. 65/2003, cf. Number 10. Paragraph 1 Article 1 law on enforcement no. 90/1989, to fulfil the claim without prior judgment or settlement.

6. Termination

Orkusalan is authorized to terminate an electricity sales contract with a customer if arrears are for electricity purchases, as long as a customer has already been given a written warning cf. Article 12 regulation no. 1150/2019. Furthermore, Orkusalan is allowed to terminate the contract with the customer without notice if the customer’s estate is subject to bankruptcy proceedings. The customer can terminate their contract with Orkusalan if Orkusalan significantly breaches its obligations.

7. Liability Rules

The compensation rights of the customer and Orkusalan shall always be limited to direct damages. Indirect damages, including loss of contractual benefits, are not compensable. Orkusalan is not liable for damages caused by uncontrollable events (Force Majeure), such as energy shortages, wars, and natural disasters, including storm damage. Orkusalan is not responsible for obligations resting on the energy transmission company and the electricity distributor according to the Electricity Act No. 65/2003, such as if rationing of electricity to users is necessary due to insufficient supply.

The connection agreement with the electricity distributor is not part of the contract between the customer and Orkusalan. The electricity distributoris responsible, among other things, for the installation, operation, and maintenance of metering equipment, as well as the collection, correction, verification, and distribution of metering data. The customer must comply with the terms of the electricity distributor and Landsnet hf., according to the current Network Code of Landsnet hf. If there are difficulties in acquiring energy, Orkusalan is permitted, without incurring liability, to reduce the supply of electricity. Orkusalan will notify customers of such reductions in advance as much as possible.

8. New user

Orkusalan reserves the right to deny the supply of electricity to a new user who has not made a specific agreement with Orkusalan, as well as a new usage location of an existing customer. This can occur if the customer's electricity usage is such that Orkusalan finds it difficult to supply the requested amount of energy, if the customer is in debt to Orkusalan, has a bad credit record, has been declared bankrupt, or similar circumstances. If Orkusalan denies electricity service to a customer, the customer can appeal this decision to the National Energy Authority (Orkustofnun).

9. Changes to Terms

Orkusalan reserves the unilateral right to change these terms. The changes will be published in updated terms on Orkusalan's website. Orkusalan will notify customers of changes to these terms with reasonable notice before such changes take effect, and the changes will be announced on the company's website.

10. Privacy policy

To fulfil its obligations according to these terms and laws, Orkusalanprocesses certain personal information about customers. All processing of personal data by Orkusalan is in accordance with applicable laws and regulations on data protection, currently Act No. 90/2018 on Data Protection and the Processing of Personal Data, and Orkusalan'sprivacy policy, which is accessible on Orkusalan's website.

11. Dispute Resolution and Jurisdiction

If a dispute arises between Orkusalan and a customer, the parties shall attempt to resolve the dispute amicably. If an amicable resolution cannot be reached, disputes shall be resolved before the District Court of Reykjavik.

12. Effective Date

These terms of service take effect on February 1, 2022, and replace all previously applicable terms in their entirety.