Swedish Lessebo Paper Corporation has decided to temporarily suspend production of paper due to rising energy prices in the southern Scandinavian country. This is reported on the company’s website.

“The cost of electricity for the Lessebo Paper group has risen unprecedentedly from 3 million euros to 19 million euros per year. The sharp increase in electricity prices forces us to stop production as of August 31. From now on, production decisions will be made daily depending on the price of electricity,” the statement said.

The electricity price in Sweden by the end of August 2022 was 518.73 euros per mWh. At the same time, the daily cost of electricity for Lessebo Paper Corporation was higher than €58 thousand.

Because of rising energy costs, the company, which has 110 employees, was forced to stop producing paper for writing and printing, as well as its packaging. Most of the Swedish company’s production is exported to other European countries. Tim Ulson has already demanded the adoption of specific measures to combat rising energy prices.

Rising energy prices affected not only the paper industry. Sweden’S largest tomato farm, Nordic Greens, located in the south of the country, earlier decided to stop production for two months this winter. Supplies of up to 500 tons of tomatoes may be at risk.

We previously reported that EU gas prices collapsed by nearly 19%.