The members of the Board of Directors of Reykjavík Energy are elected by the councils of the three municipalities that own the company.
Reykjavík Energy has implemented an administrative system in accordance with international standards. The efficiency of the system is regularly verified with evaluations conducted by independent parties.
The members elected by the City Council of Reykjavík are Gylfi Magnússon, who is the chairperson, Vala Valtýsdóttir, who is the deputy chairperson, Skúli Helgason, Ragnhildur Alda Vilhjálmsdóttir, and Þórður Gunnarsson.
The alternate members are Auður Hermannsdóttir, Sara Björg Sigurðardóttir, Páll Gestsson, Ragnheiður Björk Halldórsdóttir and Björn Gíslason .
The board member from Akranes is Valgarður Lyngdal Jónsson.
The observer member from Borgarbyggð is Guðveig Lind Eyglóardóttir.
The observer member from Reykjavík Energy's Staff Society is Unnur Línar Karlsdóttir.
Two committees work on behalf of the board of directors of Reykjavík Energy:
The audit Committee of the City of Reykjavík works for the City of Reykjavik and its subsidiaries. The committee comprises Lárus Finnbogason, authorised public accountant, Sigrún Guðmundsdóttir, authorised public accountant, Einar S. Hálfdánarson, lawyer and authorised public accountant, and Sunna Jóhannsdóttir, a graduate in Business Administration appointed by the Board of Directors of Reykjavík Energy.
The Compensation Committee comprises the board members Vala Valtýsdóttir and Þórður Gunnarsson, in addition to Drífa Sigurðardóttir.