Significant Economic Impact from Spain's Major Blackout, States Leading Bank

A retail outlet in Barcelona was forced to shut down due to an extensive power failure on April 28.

A massive power outage across Spain led to an economic setback estimated at nearly €400 million (approximately $454 million), as reported by the nation’s principal financial institution.

Household consumption in Spain experienced a sharp decline of 34% on the day of April 28. This drastic drop occurred amid a widespread power interruption that affected large regions of continental Spain. The evaluation was drawn from transactions done through card payments, online shopping, and ATM cash withdrawals.

Despite a slight rebound in the days following the blackout, consumer spending recorded an overall 15% reduction than what would typically be expected for that period.