Iceland wants to export electricity to Europe

[Albion]

Iceland has the intention to enjoy its underground treasure, namely volcanic activity, to produce energy with the aim to sell it to its European neighbors by constructing the longest undersea electric cable in the world.
According to Sara Jonsdottir, spokesman for Landsvirkjun, the Icelandic national power company, this project started in 2010 should see some research to be completed by the end of this year. “We will then know more about its feasibility,” she said.
However, the final decision will not be reached in 4 or 5 years. It remains to specify the country of destination which is by spokesperson could be “The United Kingdom, Norway, the Netherlands or Germany.” Thus, depending on the final selection of countries, the submarine cable would measure between 1,200 and 1,900 kilometers and will be the longest such cable in the world.
“The idea is to meet European demand during peak hours, and in part by demand basis,” explained Ms. Jonsdottir.
The export target is estimated at 5 terawatt-hour (5 billion kilowatt-hours) per year. This production is the annual electricity needs of about 1.25 million households in Europe, for an estimated value between 250 to 320 million euros.

Source...

[Albion]

I think its a good idea. It'd make the economy less dependent on banking and fishing and would make it easier for the countries importing the electricity to switch to renewables (even if not their own).

[Bard]

That's just great! Actually every country should invest on its renewable energies.

[The Lawspeaker]

It's a very good idea and I think that all of us should take a long hard look at what we can to make our economies more sustainable. Also politically as we don't really have to bother about the Middle East anymore when we are more sustainable.

[Magister Eckhart]

If they can make it work, spectacular! It's better that Europe be dependent on fellow Europeans rather than their Mohammedan enemies.

I wonder if America could find a similar source of energy. Right now our only major volcanic area is in the middle of the Pacific Ocean. What is Canada's volcanic/tectonic activity like?

[antonio]

Another more energetic possibility: let's relocate all their people to mainland and then use all the terrain as combustible for massive uncontrolled nuclear-fusion reactions somehow attached with gigantic capacitors visible even from extra-orbital distances.

[Blossom]

Nice and all...but they should do something about their volcano first, I need airport for July.

[The Lawspeaker]

^ According to the Dutch press the hassle is as good as over.