The power is out. It has affected downtown, south Los Angeles, west Los Angeles and parts of the Valley. According to KCAL 9's news coverage, LA DWP says it is a mechanical failure at two of their receiving stations and the loss of power may be a result to some of the failsafes in place to protect those stations. Electricity is returning to some areas now.
Update: Power should be back for everyone in the next 2 hours. Some overzealous cable cutting seems to be the culprit and it caused power failure in about 50% of the city.