Frankly, it probably depends on your lease. If the meter is an item you agreed to maintain (it probably is not listed separately in the lease, but might be treated the same way as the roof or the exterior wall), you might be responsible. If the damage was from an outside source (tree hitting it, vandalism, or similar), the expenses might be covered by your insurance or renter's insurance if your tenants have any. Again, responsibility would probably be determined by the terms of the lease.
This answer is for general purposes only, and it does not create an attorney-client relationship.
Generally speaking, you have a duty to your tenants to exercise reasonable care in order to insure that essential utilities are properly functioning. If you violated that duty and this played a part in the electricity failing, you could be liable to your tenants in tort for damages proximately caused by that violation. If you did NOT violate that duty, then I agree that this is a contract issue and the terms of the lease should control.
William J. Smith
SMITH LAW, LLC
P.O. Box 468328
Atlanta, GA 31146
Business. Consumer Protection. Employment. False Claims. Landlord-Tenant. Wrongful Foreclosure.
Nothing herein should be relied upon as legal advice.