Spain Blackout⁣ Costs Economy Billions; Cyberattack Ruled Out

Madrid,⁣ Spain (AP) — A widespread power ‌outage in Spain on Monday is⁣ projected to cost the nation’s economy billions of euros, according to initial estimates. The CEOE entrepreneurial association⁣ estimates the blackout, which lasted approximately 10 hours, resulted in economic damages of ​roughly 1.6 billion‍ euros,equivalent to about ⁣0.1% of Spain’s ‍gross domestic product.

However, some⁤ experts cited by the newspaper *The Country* ​suggest the ⁣losses could range‌ from 2.25 billion to 4.5 billion euros. ⁣Other analysts anticipate a lower overall‌ impact,believing some⁤ of the⁣ production​ losses can be offset later in‌ the year.

Supermarkets Discarded Spoiled Goods

The power failure,which affected Portugal and‍ parts of southern France,brought⁣ much ⁣of Spain to a ‌standstill. Major ‌industrial⁢ operations, including​ Volkswagen in Pamplona and Seat in⁢ Barcelona, were forced to ⁣halt ⁣production. The sudden disruption is also believed to have caused damage to some⁣ industrial equipment.

The food industry ‍reported important losses‍ due‌ to compromised refrigeration. ​Supermarkets across the country were forced to dispose ⁣of entire stocks of refrigerated and frozen goods after they warmed to unsafe temperatures.

Beyond industry, the blackout impacted daily life. Numerous businesses closed early, ATMs ⁣ceased functioning, ‍and card payments were disrupted. Construction sites were idled, and train services, including long-distance and subway lines, experienced major delays and stoppages.

Cyberattack Not​ the Cause,Says ⁢Network‌ Operator

The cause of the‍ extensive power failure remains under investigation. The Spanish goverment has pledged ⁤a thorough inquiry into the incident.

Red Eléctrica Española (REE),spain’s national⁤ grid operator,has ruled out a cyberattack ⁢as the cause. “Based‌ on our analysis to⁣ date, we can exclude a cybersecurity incident affecting the power‌ grid infrastructure,” said REE head Eduardo Prieto at a​ press conference.

Portugal ⁣also experienced power outages on monday, but power was restored by midnight, according to broadcaster RTP. In Spain,the grid operator ‍reported that electricity was flowing to more than 99%‍ of customers by early Tuesday.