The September blackout cost the State $367 million but could have been much worse, according to a comprehensive survey of Business SA members.
The survey also found that many businesses did not have business interruption insurance and, of those who did, more than half found they were not covered for losses resulting from the blackout.
The overall financial impact on the State was a loss of $367 million but, in occurring late in the trading day, the effect of the blackout was lower than it would have been if it had occurred just as businesses started trading for the day. Considering 70% of respondents had power restored within 24 hours we are looking at a cost of close to $120,000 per minute for business in the State.
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