Israel faced a complete system breakdown Sunday, as a result of frequent and widespread electrical blackouts all across the country.
The blackouts, initiated by the Israel Electric Company in a bid to alleviate an electricity load that was the result of Sunday's heat wave, may result in losses worth tens of millions of dollars to the economy.
Sources in the computer industry estimated that system failures alone resulted in damages amounting to USD 24 million to the economy.
This is a conservative estimate that does not take into account specific damages caused to factories, or commercial deals that went unsigned because of the shutdowns.
Overall, Sunday's losses might reach tens of millions of dollars, from damages caused to industrial plants and places of business, in particular where no electric generator or backup system were installed.
Dudi Goldman contributed to the report