The outage was caused after a problem with a power transformer at the electrical substation at Richmond Street and State Route 2.
Officials say there was a fault that traveled back to the substation and an electrical breaker that should have opened malfunctioned and did not open.
That resulted in a "flash-over" fire that knocked the transformer offline.
Click on the link below to go to the wkyc.com photo gallery to see a viewer's pictures of the flash-over.
Painesville has its own municipal power system.
Painesville Municipal Electrical System officials are investigating the cause of the outage. Early reports indicate that a fire at the plant may have been to blame. Photos sent from a viewer show what appears to be a fire in the area of the power plant.
The power outage did cause two private schools, St. Mary's Elementary and Summit Academy, to dismiss students early due to a lack of power and heat.
Painesville public schools remained open throughout the outage.