About RST Net

Specialised energy services company

RST Net provides specialised services related to electrical and machinery in the energy industry, i.e. power stations, transmission and distribution systems as well as heavy industry and industrial plants. RST Net undertakes part or all of the implementation of the installation of new electrical and hardware in the energy industry with reliable partners. The company offers measurements and tests with specialized instrumentation and provides consultancy on actions and solutions to improve operational safety, improve utilization of equipment and improve the quality of electricity consumption.

RST Net designs, builds and manufactures equipment tailor-made for electricity distribution, power and industrial plants as well as the commission of specialized equipment, spare parts and materials for power plants, transmission and distribution systems. The operation takes place in specially designed premises for the company at Álfhella 6 in Hafnarfjörður.

The company currently employs a diverse team of approximately 30 specialists in the field of electrical and mechanical equipment.  Employees have expertise in condition assessment, fault diagnosis and maintenance of high voltage equipment. Great emphasis is placed on retraining and continuous training of employees in order to be able to better tackle specialised projects in the electricity sector. These include in particular a franchise and service agreement for the German company Maschinenfabrik Reinhausen, while RST Nets employees have specialised in the introduction of stage switches from Maschinenfabrik Reinhausen.

Company history

RST Net ehf was founded on 8 January 1998 by Þórarinn Kristján Ólafsson electrical power engineer and Arnhildur Ásdís Kolbein business administrator. At the time of the company's establishment, its purpose was to provide specialised services in the electricity industry, electrical contractors and similar activities, as well as to offer spare parts services for energy companies and specialised consultancy services for them. To begin with, the company performed maintenance and repair services on electricity equipment for Rarik. These included distribution and power transformers, circuit breakers, general maintenance of substations and operational projects for Khushan utility, among other projects.

Soon, the company's main projects increasingly shifted to contracting for larger construction projects. Most notably is the installation of electrical power equipment for the Sultartangi Power Plant in 1999, as well as the installation of all electrical equipment and installation of all machinery in the Vatnsfell Power Plant 2000-2002. With the involvement of RST Net in the Vatnsfell Power Plant, the main change in the company's operations was that, instead of only being on electrical projects, a powerful team of mechanics, mechanics, welders and other metalworkers was added, along with the equipment needed to undertake the project. Today, therefore, the company is equally qualified to undertake projects in the metal industry and electrical industry. In recent years, projects for the three smelters have increased considerably and they are today major customers of RST Net. We are talking about projects in all areas of the company. The target market remains unchanged, i.e. the electricity industry and larger electricity users.

In 2012, the company began designing and preparing distribution transformer station production between 50 kVA and 315 kVA and sold the first copies at the end of 2014.  In the spring of 2017 the company signed a four-year contract with Rarik ohf. following a tender for the production of all distribution transformers for those of 50 kVA, 100 kVA and 200 kVA. 

Facilities and equipment

RST Net operates in new specially designed premises at Álfhella 6, Hafnarfjörður. The premises are, among other things, specially designed for the handling of power transformers, the ceiling height is high and the premises have a new bridge crane with a lifting capacity of up to 60 tons.

The company has a lot of specialized instrumentation and measurement equipment including 5 oil refineries of different sizes and types, including a new and complete Micafluid device that has a higher capacity than any other oil refinery in the country.

Quality, safety and environment

The company's goal is to be at the forefront of specialised services and contracting for energy companies and larger electricity users in Iceland. RST Net strives for a safe working environment and avoids harming the environment and society. Emphasis is placed on effective quality control and control. RST Net operates on safety and quality systems.

In recent years the company has carbon offset its operations by planting trees in the Westfjords. The energy transition of the fleet has also begun and it is the company's policy that all new cars will be electric vehicles. In rare cases where the availability of electricity may hinder work at the work site (e.g. at a remote workplace), it will be necessary to have a car powered by other energy sources.

Baseline

  • Honesty is highly valued at RST Net, where employees treat each other, customers and suppliers with integrity, thereby ensuring transparency in operations. 

  • Knowledge is at the core of RST Nets services and productions that seek to maintain them and enhance and build experiences through continuous improvement.  

  • Trust is the foundation of RST Net's success and the company's sincere intention is to respect the needs of its customers by always providing quality and safe service.  

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