As a Forensic Electrical Inspector I have been seeing a very disturbing Issue where Service Entrance Cable is deteriorating quicker than it should be
As you can see in the above the Plastic wiring jacket has completely split and is allowing water to drip into the electrical service .
I am seeing it more and more often on services with less than 20 to 30 years use. This wiring should easily last 50 years like older service wires have . But instead the jackets are splitting and flaking off
Home Owners in mean time have no clue there is a problem their service is deteriating until the lights start blinking and they call Power Company whose troubleshooters often have to turn power off to the home till situation is corrected .
left uncorrected the breakers will rust and no longer trip and a fire will result
Here you can see a double hazard a dangerous Federal Pacific Panel which has been Recalled loaded up with rust from water
I am in the process of collecting data to see which wire manufactuer is having this issue and will be contacting the CPSC on this issue.
In the mean time might want to have an elctrician check out your service.