The Blackout Causes More Losses to Iberdrola and Repsol than the Government Predicted for the Entire Spanish Economy

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Last Monday’s blackout bill on the Spanish economy could amount to about 400 million euros, slightly less than a tenth percent of Spanish quarterly GDP, according to estimates made public this Monday CaixaBank Research. The center of studies of the banking institution has found that on the same day of the massive cut of the electricity supply the consumption expenditure of all Spanish households fell by 34%. In the following days, however, there…

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The blackout of April 28th was not only an increase for the costs of the electricity system, but also for companies that saw their activity damaged. In the energy sector, we begin to know the figures of the impact of the electric zero on the big companies, leaving for now a hole in the accounts of Iberdrola and Repsol of more than 300 million euros. The first in public its financial information of the first semester has been Iberdrola, uncoverin…

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Economy reduced to just 200 million the blow by the fall in the supply, when both energetics count a blow greater than 300