Hi Eric,
I know this is late but hope it helps.
The quick answer is yes, however, depending on what you are trying to do the level of complexity will vary. My personal opinion is to keep things as simple as possible. For example if your meters have GPS locations just plot the outages on a map and use the temporal data to filter out what you want to see. If you need to see real-time outages look at using GeoEvent Processor linked to your meter data management (MDM) system. If you have more information on what you are trying to do I can offer a more pointed solution.
Use geography as your integration method whenever you can.
Mike Goggin