@ystokesThere are grid collapses (could be accomplished by taking out power plants, of course), but those are generally localized to an area (barring, again, something like deliberate attacks, in which case we're again either in a serious war or civilization collapse). Ukraine has been in a war in which one side has been deliberately attacking the power infrastructure for years and still generally has electrical service, so it's not as easy as all that.
But that remains a localized outcome. If one postulates the majority (everywhere within a wide area or worldwide) in a first-world country living without electricity, that also means little to no water delivery or processing, refining (and thus gasoline), and so forth, which would catastrophically affect the food supply in the area. Most first-world people wouldn't 'handle life' without electricity in a widespread outage, they would die from lack of food and (reasonably safe) water, which was my point.
Obviously, there are partial solutions: prioritize power to refining, food production, water purification and delivery, etc, and let the people go without. That's possible, but it presumes there's enough of a grid to get power where it's wanted, which is conjecture at this point depending on exactly what destroyed enough generating capacity to require most of the populace to live under blackout conditions.
There are people who want to sue all sorts of things out of business. That doesn't mean it's a practical possibility. At some point, the state would intervene, either (partially or completely) protecting the power company from liability or socializing it (with protection from liability). They would have to, because the alternative is being voted out of office (best case) or lynched (worst case).
In the case of electically-triggered wildfires, the question is: was there preventable gross negligence that caused the wildfire? If so, why shouldn't there be significant liability? Should any business (including necessary ones) be able to do hundreds of billions of dollars worth of damage due to gross negligence and not have to compensate those they harm? Why would that make sense?
Note: I'm not saying there was gross negligence, nor that it could have reasonably been prevented given current policies, nor that the wildfires were even necessarily caused by electrical distribution. But, if there was, that seems like something we should strongly discourage.
Mind you, there is no reasonable way that a power company could possibly pay off fines at that level. They would declare bankruptcy and someone else would take over their operations (as mentioned above, likely either with some form of state protection or as a state agency). But 'Oops, sorry, I did so much damage that I can't pay for it, so I guess I'm off the hook' is a really bad standard for society, too.