Headlines
Iberdrola expects no financial impact from potential blackout claims
Published by Global Banking and Finance Review
Posted on July 23, 2025
2 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on July 23, 2025
2 min readLast updated: January 22, 2026
Iberdrola expects no financial impact from blackout claims in Spain and Portugal, citing insurance coverage and no liability for the outage.
MADRID (Reuters) -Iberdrola does not expect any financial impact from potential compensation claims in relation to the blackout that hit Spain and Portugal on April 28, Spain's biggest power utility said as it reported half-year results on Wednesday.
Redeia-owned grid operator REE has accepted that the outage was triggered by a surge in voltage but has traded blame with power utilities for the blackout, which caused massive gridlock in cities and left thousands stranded on trains and in elevators across the Iberian peninsula.
Internal and external experts analysed the event and concluded that companies within the Iberdrola group were not the cause of the blackout, "nor did they contribute in any way to the occurrence", the company said.
Its power and distribution assets contributed effectively to the restoration of electricity supply, the company added.
While denying any liability for the power outage, Iberdrola said that any potential claims would be covered by civil liability insurance policies.
The group has yet to receive any legal claims related to the blackout.
However, Iberdrola did report that the blackout contributed to a one-off hit of 135 million euros ($158 million) in the first half of the year, citing higher costs of services that help to maintain grid stability.
The company also reported a 25 million euro charge in Portugal for similar reasons.
($1 = 0.8527 euros)
(Reporting by Pietro LombardiEditing by David Goodman)
Compensation refers to the payment or reimbursement provided to individuals or entities for loss, damage, or injury. In the context of financial claims, it often involves monetary payments to cover losses incurred.
Financial impact refers to the effect that an event or decision has on an organization's financial performance, including revenues, expenses, and overall profitability.
Civil liability insurance is a type of insurance that protects individuals or organizations against claims made by third parties for damages or injuries caused by their actions or negligence.
A blackout is a temporary loss of electrical power in a specific area, often caused by issues in the power grid, such as surges or equipment failures.
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