Switched On23 Jul 2025

Inside the Blackout That Froze the Iberian Power Grid

When the Iberian electrical grid blacked out earlier this year, there were real-life consequences. Widespread disruption of transportation, communication networks and essential services left Spain and Portugal temporarily paralyzed. Following the event, two separate reports were released by the Spanish government and the grid operator, Red Electrica de Espana, where both agreed that voltage fluctuations were the root cause of the outage. However, they then went on to present conflicting opinions as to why authorities were unable to bring voltage under control. So why did this voltage fluctuation occur in the first place, and what actions have been taken to protect the Iberian electricity grid from future incidents? On today’s show, Tom Rowlands-Rees is joined by Eva Gonzalez Isla, a senior associate from BNEF’s grids team, to discuss findings from her research note “Iberia Blackout: Blame Before Facts”.

Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com

Links to research notes from this episode:

Spain Clears €750 Million for Grid After 16-Hour Blackout: React - https://www.bnef.com/analyst-reactions/sz4qsadwlu6800

Iberia Blackout: Blame Before Facts - https://www.bnef.com/insights/36887

Spain Blackout Accounts Pin Blame But Do Little for Grid: React - https://www.bnef.com/analyst-reactions/sy3km9dwlu6800

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