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September 14, 2022

Sweden: Vida Group says electricity price will affect its production over time

Sweden: Vida Group says electricity price will affect its production over time
    For Sweden's largest sawmill group, Vida, a price increase of SEK 1/kWh on the electricity price means around SEK 170 million (EUR 16 million) on an annual basis. This corresponds to a cost increase of 10 percent. In the short term, price hedging and production cuts mitigate the cost shock. As previously announced, during the autumn, Vida will reduce production by 15 percent. The Canadian forestry giant Canfor owns 70% of Vida Group.          ''The reduction is driven more by a declining market than by ...

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