Spain’s biggest blackout caused an estimated €400 million ($454 million) loss to the economy, according to CaixaBank.
Consumer spending dropped 34% on April 28, the day of the power outage, but partially recovered in the following days, leading to a net 15% decrease. CaixaBank estimates the blackout’s one-off impact on quarterly GDP will be less than one-tenth of a percentage point.
The blackout affected around 50 million people in Spain and Portugal, disrupting transport, telecommunications, and retail.
The Spanish government is investigating the cause of the outage, which lasted several hours. Despite the blackout, Spain’s economy is projected to grow by 2.6% in 2025 and 2.2% in 2026.
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