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    Spain | The blackout in real time: collapse and resilience of consumption after 28A

    Published on Friday, May 9, 2025 | Updated on Friday, May 9, 2025

    Big Data techniques used

    Spain | The blackout in real time: collapse and resilience of consumption after 28A

    Summary

    BBVA customers' card spending fell sharply on April 28, 2025, due to the power outage that affected the Iberian Peninsula. In particular, spending by customers residing in the affected areas was 41 percentage points below the average observed on non-holiday Mondays in April 2024.

    Key points

    • Key points:
    • The trend in purchases made by customers residing in the unaffected provinces (island communities, Ceuta, and Melilla) showed a smaller decline, of just 7 percentage points.
    • The recovery in the following days has been very significant. The day after the blackout (April 29), card spending was 14% higher than that recorded on non-holiday Tuesdays in April 2024. Two days later (April 30), this figure rose to 37%.
    • The analysis by sector shows a generalized drop in purchases made by residents in the affected provinces, although with heterogeneity. The decrease was particularly notable in fashion, healthcare, and electronics and communications.
    • At the provincial level, a generalized decline in card purchases made by residents in the affected areas was observed. Among the provinces with the greatest declines were Valencia and some neighboring Madrid, such as Segovia, Cuenca, Guadalajara, and Ávila. In the north, the most notable are A Coruña, Pontevedra, Lleida in the east, and Andalusian provinces, such as Jaén, in the south.
    • Cash withdrawals by BBVA customers in the affected areas saw a smaller drop than card spending, and the recovery in the following days has been more pronounced. Payments by Bizum showed a similar trend to card spending, although with a stronger rebound later.

    Geographies

    Authors

    BBVA Research BBVA Research

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    The blackout in real time: collapse and resilience of consumption after 28A

    Spanish - May 9, 2025

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