Economic Consequences Analysis of Large-Scale Power Outages Based on the Computable General Equilibrium Mode

As the national economy increasingly relies on electricity, the detrimental impact of large-scale power outages on economic operations becomes more severe. Accurate assessment of the economic consequences resulting from such incidents is crucial for rational planning, safe operation, and emergency management of the power grid. Based on the interdependence of various industries in the national economy, this study establishes a computable general equilibrium (CGE) model to analyze the economic loss of large-scale power failure, and takes China as the object to carry out calculation. The case study shows that the direct economic loss and indirect economic loss caused by China's power outage for one hour are about 21.6 ~ 26.8 billion yuan and 9.4 ~ 11.6 billion yuan respectively. Industries with high energy consumption, including construction, metal mining, and product processing sectors, suffer more severe declines in output.