António Pedro Santos / Lusa
It is not yet possible to determine the economic damage caused by blackout, but the worst scenarios account for the equivalent of 1 day GDP.
“In the most pessimistic scenario, one day was lost in Gross Domestic Product (GDP), which gives about 1.1 billion euros“. Who says it is Oscar Afonso, director of the Faculty of Economics of the University of Porto (FEP), to.
In the case of industry, for example, the Association of Metalworkers, Metalomechanics and the like from Portugal (AIMMAP) advances that “paid and not done work” by companies in the companies cost an average of 16 million euros.
“In addition to salaries, and before quantifying everything that delays will cause, we are talking about More than a hundred thousand euros per companyin direct losses, ”says Director-General, Mafalda Gramaxo.
In Spain, the impact was estimated between 900 and 1,500 million eurosaccording to, but each day it represents an increase of 4.5 billion euros of GDP. Theoretically, this would be the impact, but observing in more detail, there are damages that were offset by other sectors. Analysts expect the impact to be reversed in the coming days.
“Hotels did not stop charging the night, many bars and restaurants continued to provide part of their services and other sectors that count their activity in the long run, such as agriculture and livestock, almost did not suffer the effects From the blackout ”, denotes the Spanish teacher of economics Manuel Hidalgo.
Also the director of FEP warns of prudence: “There was also more economic activity in other domains”, so this positive value compensates for a part of the lost GDP.
The Director General of the Portuguese Association of Distribution Companies (APED), Gonçalo Lobo Xavier, says that about 85% of companies maintained the activity. “It is evident that there was extraordinary products sales, but there was also some loss. We looked at this day as a demonstration of our capacity, Much more than a day when we could do business. ”
Portugal and Spain suspend energy exchange
Ren said this Wednesday that the trade exchange of energy between Portugal and SpanishA is not working by precaution, after the massive blackout that hit the Iberian Peninsula.
Ren’s administrator, João Faria Conceição, also said that he expects the “final phase” to “Complete system stabilization” Be completed until 00:00 on Wednesday, in statements at CNN Portugal.
João Faria Conceição clarified that, shortly before 23:30 on Monday, the connection to all its infrastructure was restored, while the distribution network operator called the latest consumer points on Wednesday.
“We are moving to a normal situation”, but “The part of the distribution is taking a little longer”underlined the company administrator responsible for the transportation of electricity and gas in Portugal.
The REN executive administrator stressed that it is still necessary “Ensure complete stabilization of the system ”to achieve the normal functioning of the gross markets.
“From then on, we can say that the system has returned, both technical and economically, to the completely normal functioning,” he continued, adding that he expects this final stage to be completed until today’s midnight.
