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The Chamber of Commerce says it's considering seeking legal advice to pursue a collective action against the contractor responsible for Tuesday's seven-hour power outage.
It also believes contractors carrying out civil engineering works should be required to post a bond beforehand.
It says this could be used to compensate businesses if the works cause a power cut.
Shelina Assomull spoke to Chamber President John Isola.
The Chamber says it estimates the wage cost to private sector businesses of yesterday's power cut to exceed two and a half million pounds, adding the value of lost sales to businesses without backup power is likely to be many times this figure.
It says to add insult to injury, yesterday's power cut coincided with visits by two cruise ships, whose passengers were unable to shop or visit any local bars or restaurants.
It says it's considering legal advice on collective action on behalf of its members, to recover the losses suffered.
The Chamber of Commerce also highlights the legislation promised by the Government to hold contractors accountable, stating it is taking far too long.