About RST Net

Specialised Services for the Energy Sector

RST Net is a specialist engineering company providing electrical and mechanical services to the energy sector, including power generation facilities, electricity transmission and distribution networks, and heavy industrial plants. Working independently or in partnership with trusted contractors and technology providers, the company delivers complete installation solutions for new electrical and mechanical systems, as well as the refurbishment and upgrading of existing infrastructure. RST Net also provides advanced testing, measurement and condition assessment services using specialised diagnostic equipment. Its consultancy services help customers improve operational safety, optimise asset performance, enhance system reliability and improve power quality through practical, cost-effective engineering solutions.

The company designs, engineers and manufactures bespoke equipment for electricity distribution networks, power generation facilities and industrial installations. In addition, RST Net supplies specialised equipment, spare parts and materials for power stations and electricity transmission and distribution systems. Operations are based at the company's purpose-built facility at Álfhella 6, Hafnarfjörður, which has been specifically designed to support the manufacture, assembly, testing and maintenance of heavy electrical equipment.

RST Net employs a multidisciplinary team of approximately 45 highly skilled engineers, technicians and specialists with expertise in electrical and mechanical engineering. The company's capabilities include condition assessment, fault diagnosis, installation, commissioning and maintenance of high-voltage equipment. Continuous professional development is a key part of RST Net's culture, with engineers regularly undertaking specialist training to maintain the highest levels of technical competence. As an Certified Service Partner of Reinhausen GmbH (MR), Germany, RST Net provides specialist installation, inspection and maintenance services for on-load tap changers (OLTCs). Through ongoing training and close collaboration with MR, the company's engineers have developed extensive expertise in the servicing of one of the world's leading transformer tap changer systems.

Company History

RST Net ehf was founded on 8 January 1998 by electrical power engineer Þórarinn Kristján Ólafsson and business administrator Arnhildur Ásdís Kolbein. From its inception, the company's mission has been to provide specialist engineering services to the electricity sector, including maintenance and repair of electrical equipment, electrical contracting, the supply of spare parts for utility companies, and specialist technical consultancy. In its early years, RST Net carried out maintenance and repair work for RARIK, including servicing distribution and power transformers, circuit breakers and substations, together with operational projects for Kjósarveita and other utility customers.

As the company expanded, its activities increasingly focused on major infrastructure and construction projects. A significant milestone was the installation of electrical equipment at Sultartangavirkjun in 1999, followed by one of the company's largest projects to date—the installation of all electrical and mechanical equipment at Vatnsfellsvirkjun between 2000 and 2002. This project marked a turning point in RST Net's development, leading to the expansion of its capabilities beyond electrical engineering to include mechanical installation, steel fabrication and welding. To support this growth, the company assembled a multidisciplinary team of mechanical fitters, welders, metal fabricators and electrical specialists, together with the equipment and facilities required to undertake large-scale industrial projects. Today, RST Net is recognised as a multidisciplinary engineering contractor with expertise in both electrical and mechanical engineering. Its principal markets remain the electricity sector and major industrial power users. Over the years, the company has completed numerous projects for Iceland's aluminium smelters and other large industrial facilities, providing services across its full range of engineering disciplines.

In 2012, RST Net began the design and development of its own range of distribution transformer substations, with ratings from 50 kVA to 315 kVA. The first units were delivered to customers at the end of 2014. In 2017, following a competitive tender process, the company was awarded a four-year framework agreement with RARIK for the manufacture and supply of 50 kVA, 100 kVA and 200 kVA distribution transformer substations, reinforcing RST Net's position as a trusted supplier to Iceland's electricity distribution sector. 

Facilities and Equipment

RST Net operates from purpose-built facilities at Álfhella 6, Hafnarfjörður, designed to support the manufacture, assembly, testing and maintenance of heavy electrical equipment. The workshop has been specifically equipped for the handling and servicing of power transformers, with generous headroom and an overhead bridge crane capable of lifting loads of up to 60 tonnes.

The company maintains an extensive range of specialised tools, testing instruments and diagnostic equipment to support its engineering and maintenance services. This includes five transformer oil purification units of various capacities and configurations, among them a state-of-the-art Micafluid oil treatment system with a higher processing capacity than any other transformer oil purification unit in Iceland. RST Net's modern facilities and specialised equipment enable the company to undertake complex projects efficiently while maintaining the highest standards of quality, safety and technical performance.

Quality, Safety and Environment

RST Net is committed to delivering the highest standards of quality, safety and environmental responsibility in every aspect of its operations. The company's objective is to remain a leading provider of specialist engineering services and contracting solutions for Iceland's energy sector and major industrial power users. A strong safety culture underpins all of RST Net's activities. The company is committed to providing a safe and healthy working environment for its employees, contractors and customers while minimising the environmental impact of its operations. Comprehensive quality assurance and health, safety and environmental (HSE) management systems support the consistent delivery of reliable, high-quality services in accordance with industry best practice.

RST Net is also committed to reducing its environmental footprint. In recent years, the company has offset a portion of its carbon emissions through tree-planting initiatives in the Westfjords and has begun transitioning its vehicle fleet to electric vehicles. It is company policy that all new fleet vehicles should be fully electric wherever operationally practical. In situations where charging infrastructure is unavailable or unsuitable—such as at remote project sites—alternative vehicle types may be used to ensure operational reliability.

Core Values

  • Integrity is fundamental to everything we do. We conduct our business with honesty, professionalism and transparency, treating our employees, customers, suppliers and business partners with respect and fairness. 

  • Technical expertise is at the heart of RST Net's success. We are committed to maintaining and continuously developing our knowledge through training, innovation and practical experience, ensuring that we deliver the highest standards of engineering and technical excellence.  

  • Trust is the foundation of our long-term relationships with customers and partners. We strive to understand our customers' needs and consistently deliver reliable, high-quality and safe engineering solutions that earn their confidence.  

Quality policy

RST Net's quality policy is based on the values and overall strategy of the company.  

RST Net is a leading service company in the Icelandic energy sector and tackles service, construction and manufacturing projects for a diverse group of customers. Alongside the vision and continued growth of the company, the Board of Directors of RST Net is committed to continuous development and improvement of an active quality management system that meets standards requirements along with applicable laws and regulations.  

The RST Nets Board believes that advances in the use and understanding of processes will reduce waste and ensure the future success of the business. Similarly, the Board believes that the development of enterprise memory and its supporting dataset ensures consistency in the development and production of products and services over the long term.  

The company sets quality objectives and reviews them regularly to support this policy and the ever-changing working environment of the company. The objectives will be reviewed at quality council meetings to be held every two months following the certification process.  

 The Board of Directors of RST Net is committed to increasing customer satisfaction through the systematic application of the quality management system and maintaining a simultaneously socially responsible approach to product development, services and production at all of the company's workplaces.  

Human Resources Policy

RST Net's human resources strategy is based on the company's values and strategy.  

RST Net recruits and receives new staff on a professional basis. A position meeting is held with new employees after three months on the job and then each year where proposals are listened to and guidance on performance and professional development.  

RST Net works interactively to ensure that employees are competent, satisfied and ambitious. The company encourages employees to maintain a high level of safety awareness and to strengthen their professional skills and expertise through training and retraining.  

RST Net emphasizes that living conditions are as optimal as possible and employees' terms are competitive.  

 RST Net places great emphasis on ensuring that employees feel comfortable at work and that work-life balance is ensured to the best of their ability. Equality and equal opportunities for all employees are promoted, regardless of gender, age, origin and other status.  

RST Net consists of a strong team that cultivates a positive corporate culture where honesty and trust form the foundations for the day-to-day running of the company. Transparency and good flow of information make RST Net an attractive place to work.  

Equal Pay Policy and Equality Plan

Purpose and objectives
The equal pay system of RST Nets ehf is based on standard ÍST85:2012 on the basis of Article 7 of Act no. 150/2020 on equal pay certification. The purpose and objective of RST Nets ehf's gender equality policy is to promote equality for all genders in accordance with the Act on Equal Status and Equal Rights and to adhere to the principle that comparable wages are paid for the same or equally valuable work and that terms are always determined on the same grounds, so that no gender-based wage gap exists at RST Net ehf. The Gender Equality Policy was approved by the company's Board of Directors on 03.11.2021 and shall be reviewed every three years, cf. Article 5 of the Act. The plan is available on the company's website www.rst.is

Extent
The policy applies to all employees of RST Net ehf.

Equal Pay Policy and Equality Plan RST Nets ehf
RST Net ehf emphasizes gender equality and utilising the equal strengths of all employees so that the skills and skills of all human resources can be optimised and this is documented by this policy. The policy of RST Net ehf is to be a workplace where everyone is valued based on their skills and performance and that everyone has equal opportunities to assume responsibility and perform tasks regardless of gender.

 RST Net ehf adheres to laws, rules and agreements pertaining to gender equality issues that apply at any given time.

The main objectives of gender equality and equal pay are:

  • all sexes have equal pay and conditions for the same or work of equal value;
  • be a workplace where all genders have equal opportunities both for work and for professional development;
  • be a workplace which seeks gender equality in positions of responsibility and management;
  • to be a workplace in which all genders enjoy equal training and education opportunities;
  • be a workplace which finds ways of reconciling the family and working life of workers;
  • to be a workplace where no prejudice and no violence is tolerated, this includes gender-based/sexual violence/harassment.
  • that the equal pay policy is introduced to employees and published on the company's website
  • wage analysis is carried out regularly, comparing work of equal value and presenting the main results to employees
  • to address indiscriminate pay gaps with continuous improvement

Implementation and review
The Chief Financial Officer is responsible for the operation of the equal pay system, i.e. documentation, implementation, improvement and implementation, as well as ensuring that the policy and the equal pay system as a whole are maintained, reviewed and reviewed. Furthermore, the Chief Financial Officer is responsible for ensuring that reviews of the performance of the equal pay system are carried out annually and that action is taken if necessary. The CFO is responsible for ensuring that all data to be reviewed, including salary analysis, is available at the time of annual reviews.

The management of RST Net ehf undertakes to enforce and jointly take responsibility for maintaining continuous improvements in all aspects of the equal pay system.

Comments and suggestions regarding the company's equal pay system shall be submitted by clicking HERE.

Hafnarfjörður November 3, 2021

Kristján Þórarinsson
Chief Technology Officer