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Notes -
Aren't the British trying to run a cable from Iceland for geothermal?
You are probably thinking of the Icelink proposal.
This was a proposal as opposed to a project, and more or less died in the later 2010s at the Feasibility study level. There are probably three main reasons for that. One, cost-benefit on a technical level, as Icelink was more of an environmental proposal for UK governments to boast green credentials than an actual way to most efficiently use green energy in industry (as you could just invest the energy consumption infrastructure in Iceland). Two, related to cost and benefit, was Brexit, on top of the internal budget disruption to the UK governmental also put the UK and Iceland on opposite sides of the EU single market wall at a time when UK and EU relations at the regulatory and policy level were, shall we say, uninterested in major investments to the UK benefit. Third was the point that any UK investment in Icelink would land in territories with significant risk of separating from the UK over the medium/long term, as the cables would either naturally land in Scotland- where the SNP was having a strong period and polling near-majorities in hypothetical separation referendums- or in Northern Ireland- which the post-Brexit EU policy was to have economically segregated from the rest of the UK economic-legal architecture. A major, UK-level investment which would provide EU baseload power to territories with significant political interests who would rather be a part of the EU than UK would be a territorial integrity risk.
So, don't expect it to go through.
Which is a shame, because when it is available at economically viable rates, geothermal is one of the 'better' green power systems because it meets the baseload power requirements of predictable, non-swingy power. The economic viability is dependent on geography that isn't necessarily where you want it, but that's actually why long-range transmission makes sense in that context because you can't simply build a closer geothermal plant, but geothermal is good baseload generation and if you do build it, you don't have to build duplicative generation capacity like with intermittant green sources.
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