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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on May 22, 2025

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    LISBON (Reuters) -Portugal wants European energy regulators' agency ACER to lead an independent investigation into the causes of the huge power outage that brought most of Spain and Portugal to a standstill last month, its acting energy minister told Reuters.

    Maria da Graca Carvalho said Prime Minister Luis Montenegro wants an independent investigation led by the European Agency for the Cooperation of Energy Regulators to complement the technical report being prepared by the European network of transmission system operators ENTSO-E.

    "ACER, as a suitable entity to coordinate any external evaluation process, could bring more confidence, impartiality and transparency to the conclusions," Carvalho said in an e-mail, responding to questions from Reuters.

    "As for speculation about cyber attacks, sabotage or human error, at this time there is no evidence" that any of those could have caused the outage, the minister told Reuters in a written statement.

    Spain's energy minister said last week that an abrupt loss of power generation at a site in Granada, followed by outages seconds later in Badajoz and Seville, triggered the unprecedented blackout across Spain and Portugal on April 28.

    Iberia lags behind the EU's target for all countries to have 15% of their energy system interconnected to the broader European network by 2030, with Iberia's share stuck at just 3%.

    Carvalho said that, regardless of the causes of the blackout, Portugal was pondering how to strengthen the resilience and security of the national electricity system, which is a "strategic imperative".

    (Reporting by Sergio Goncalves; editing by Andrei Khalip and Jan Harvey)

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