Irving Paper is again curtailing 50% of its operations indefinitely due to soaring electricity costs.
The company, a major graphic paper exporter, cites uncompetitive industrial power rates in New Brunswick as the cause.
"We empathize with residential customers' rate shock," said Mark Mosher, VP of Pulp & Paper at J.D. Irving, Limited. "We have been experiencing the same...and have been raising the alarm."
With a further 10% rate increase slated for April 2025, the situation is expected to worsen. Irving Paper's annual electricity costs have jumped from $60 million to over $83 million in 2024, and are projected to hit $100 million in 2025, even with reduced production.
Irving Paper, which employs 310 people and supports hundreds of suppliers, exports over 95% of its 400,000 tonnes of annual output. They welcome the province's promised third-party audit of NB Power.
