Power Outage Plunges Spain and Portugal into Chaos, Exposing Vulnerabilities

A massive power outage across Spain and Portugal disrupted businesses, causing significant economic losses. The blackout, lasting over 12 hours in some areas, affected industries from automotive to food. While most operations resumed by Tuesday, the incident highlighted the fragility of the power infrastructure and its wide-reaching impacts.

As Spain and Portugal slowly recovered from a widespread blackout, businesses began to assess the financial damage incurred during the power outage. Tuesday marked a return to normalcy for many industries, yet the economic toll was undeniable.

The CEOE, Spain's major business lobby, predicted a hit of 1.6 billion euros to the country's GDP due to halted operations and equipment damage in sectors like oil refining and meat processing. Some businesses faced severe challenges as refrigeration systems failed and card payment infrastructures went offline.

Industry operations, including Volkswagen's Navarra plant and SEAT's Barcelona operations, faced significant disruptions. However, the tourism sector reported minimal fallout. Companies like Thune Eureka exhibited adaptability due to prior crisis management experience, highlighting the value of preparation in mitigating the impact of such unforeseen events.

(With inputs from agencies.)