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Irma Cuts Power to 6.4 Million, Shuts Ports, Imperils Crops

  • Storm threatens to wreak havoc on energy, agricultural markets
  • Florida utility says restoring service will be complex effort
Bloomberg business news

Enki Research Says Hurricane Cost May Reach $49B

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Hurricane Irma has knocked out power to at least 6.4 million customers, paralyzed tanker traffic, shuttered gasoline stations and suppressed demand for natural gas. As the storm headed up Florida’s west coast, it also threatened more than $1 billion worth of crops.

NextEra Energy Inc.’s Florida Power & Light utility warned Sunday that some customers may go without power for weeks, and parts of its system may need to be rebuilt “from the ground up.” The company took two reactors offline at a nuclear plant south of Miami, one for reasons unrelated to the storm. Ports critical to supplying the state with gasoline and diesel were also closed, and energy companies including Exxon Mobil Corp. and Kinder Morgan Inc. shut fuel terminals and pipelines.