Is a government agency under the Ministry of Industries and Innovation. Its main responsibilities are to advise the Government of Iceland on energy issues and related topics, license and monitor the development and exploitation of energy and mineral resources, regulate the operation of the electrical transmission and distribution system and promote energy research. The Director General of Orkustofnun is Guðni A. Jóhannesson.
The United Nations University Geothermal Training Program (UNU-GTP) is run as a separate unit within Orkustofnun, based on a contract with the Ministry of Foreign Affairs in Iceland and the United Nations University in Tokyo. The Governmental Energy Fund and the Energy Agency, which is co-financed by Orkustofnun, utility companies and external research grants, are also hosted by Orkustofnun.