Energy management is the most prominent means of improving energy efficiency, and improved energy efficiency constitutes the cornerstone in decarbonization. For successful industrial energy management, defining accurate energy performance indicators (EnPIs) is essential. Energy-intensive industries have previously been found to have an improvement potential regarding the current monitoring of EnPIs, especially at process level. While general models for developing and implementing EnPIs exist, manufacturing industries are diverse in terms of their production processes, which is why industry-tailored models for EnPI development are needed. One major outcome of this paper is a unique model specifically tailored for kraft pulp mills. The model derives from a practice-based approach for EnPI development, building on real-life experiences from a Swedish group of companies. This paper’s developed model, and the validation of the EnPIs, further increase the understanding of the kraft pulp industry’s processes and how to apply descriptive and explanatory indicators. The developed model can potentially be generalized to other sectors.