Relevant policy sections:

 Sudden and Accidental Damage from Artificially Generated Electrical Currents

– However, "we" do not pay for loss to tubes, transistors, and similar electronic components.

 EXCLUSIONS THAT APPLY TO PROPERTY COVERAGES

1. "We" do not pay for loss if one or more of the following exclusions apply to the loss, regardless of other causes or events that contribute to or aggravate the loss, whether such causes or events act to produce the loss before, at the same time as, or after the excluded causes or events.

 h. Power Disruption — "We" do not pay for loss which results from the disruption of power or other utility service, whether or not it is caused by a peril insured against, if the cause of the disruption is not on the "insured premises".

 "We" do pay for direct loss that is otherwise covered by this policy which occurs on the "insured premises" as a result of the disruption of power.

 Pennsylvania Subscriber

Let's look at this a step at a time. The first section you reference is listed under Coverage C and applies to personal property damaged by artificially generated electrical currents, although tubes, transistors and similar components are not covered. The current must be artificially generated so it would include a power surge either on or off premises that damaged property. However since tubes, transistors, and electronic components are not covered, coverage would apply to the nonelectrical components of the property. For example, the refrigerator received a power surge that shorted it out and caused a fire. The short to the electronics would not be covered as the electronics components are not covered, but the fire damage to the refrigerator door and sides would be covered.

 Then we get to the exclusions, which has the standard anticoncurrent causation clause that eliminates coverage when two causes of loss are in play and one is an excluded loss and the other a covered loss.

 Then we get to the power disruption exclusion which falls under the anticoncurrent causation language. There is an exception to the exclusion though, so that allows coverage even with the anticoncurrent causation clause. Therefore, if a transformer off premises is struck by a vehicle that damages the transformer, creating a disruption of power or a surge that damages the refrigerator, there is no coverage other than a direct loss that results from said disruption. Therefore, if the damage to the transformer shorts out the refrigerator and the refrigerator sets the carpet and sofa on fire, the refrigerator is not covered but the carpet and sofa are.

 Lastly, since we're dealing with a refrigerator, you have Refrigerated Food Spoilage coverage under the Incidental Property Coverages. This pays for spoilage of food in a freezer or refrigerator caused by temperature change resulting from interruption of electricity to the refrigeration equipment caused by damage to the generating equipment, which would be the offsite transformer or onsite power lines, or mechanical or electrical breakdown of the equipment as long as the equipment is maintained in good working order. So if the power lines come down and the refrigerator loses power the loss of food is covered. If the refrigerator malfunctions and the food is lost, there is also coverage as long as the refrigerator was maintained.