The pause is effective from 31 August. 

“Going forward a decision for production will be taken daily depending on the electricity price for the upcoming day,” the firm stated. 

CEO Jens Olson commented: “Since autumn 2021, the electricity price has gradually increased, and we cannot see that the increases have slowed down, rather to the contrary."

"Historically, the winter period usually entails high electricity prices and the fact that we already have record high electricity prices in August is a concern.”

Unprecedented price increases saw the mill's electricity costs soar more than six-fold, from €3m to €19m per year. 

As of 31 August, Lessebo said the daily cost was more than €58,000, as a result of the significant increase in the spot price for electricity in south of Sweden, which had reached €518.73 per MWh.

Lessebo has been making paper for more than 300 years, and specialises in premium uncoated papers. Brands include Design, Scandia, Kaskad, Colorit and Texture, which was introduced at the beginning of the year.

The business is owned by Jool Invest, Bakers, and Edbergs Transport with Jool having the largest stake at 49%.