Economic impact of Spain's blackout in Malaga could be around 45 million euros

The impact of yesterday's blackout is difficult to measure because of all the different repercussions it caused on businesses: from the loss of profits of hundreds of thousands after being forced to close their doors, to the losses of spoiled raw materials and products, to cancelled events and trips, among other things. However, the Spanish confederation of entrepreneurs (CEOE) has already ventured a figure: 0.1% of GDP. In relation to Malaga's economy in particular, this percentage translates to 45 million euros.

Malaga's own branch of employers (CEM) has said that it is "complex" to measure the impact at provincial or local level, as it depends on the time it took to recover the electricity supply and telecommunications. In some cases, normality did not return until well into the early hours of the morning, affecting many workplaces, businesses and public services during the day. "It is important to take into account not only the cost of the economic losses in sectors such as commerce and the hotel and catering industry, but also the effect of lost profits due to sales not made as a result of the closure," said CEM.

The president of CEM, Javier González de Lara, has urged the responsible institutions to find and reveal the reasons for the blackout as soon as possible in order to process the corresponding compensations for the damage of lost profits. This is an important factor for the organisation, because there are certain causes, such as meteorological or force majeure, that are not accepted by electricity distributors as eligible for compensations. Insurance companies also have different stipulations depending on the causes of the event and there are situations in which they transfer liability to Spain's insurance compensation consortium (Consorcio).

The CEM has praised the Spanish society as a whole for the "exemplary behaviour" demonstrated during the day and night yesterday and "the commitment of companies, with electricity companies at the forefront, for trying to respond immediately to the situation, to provide products and services to citizens". "And, of course, the efforts of our emergency services, health and security forces, ensuring the urgent management of a critical situation such as the one experienced yesterday," said Malaga employers' association.