Irving Paper will once again shut down 50 per cent of its operations beginning Monday December 2nd in response to NB Power's record high industrial electricity rates, and remain down for at least a week.

"NB Power's continued delays at the Point Lepreau generating station have resulted in electricity rates being over one hundred percent higher than historic levels," said Mark Mosher, Vice President of Pulp & Paper, J.D. Irving, Limited. "No business can absorb price increases of that level without negative impacts. Irving Paper has shut down or reduced its operations over 30 days so far in 2024, with more expected."

Irving Paper manufactures 400,000 tonnes of paper annually, over 95 per cent of which is exported to 65 countries. Current electricity rates have a massive impact on Irving Paper's ability to compete.