No, that's not the stance for electrical utilities (at least in most developed countries, including the US): the vast majority of weather events cause localized

No, that's not the stance for electrical utilities (at least in most developed countries, including the US): the vast majority of weather events cause localized outages (the grid as a whole has redundancies built in; distribution to (residential and some industrial) does not. It expects failures of some power plants, transmission lines, etc. and can adapt with reserve power, or, in very rare cases by partial degradation (i.e. rolling blackouts). It doesn't go down fully.