Link to Original Source
First from a Eurelectric PDF is the subject of compensation:
Compensation is paid after an application is filed by the customer. The compensation is based on the duration of the outage and the annual network fee.
Functional demands are defined for normal operating and weather conditions and three different categories of abnormal conditions. At normal operating and weather conditions, 99.5 % of the customers should be reconnected within 18 hours. Outages >18h give a compensation of £50 for households and £100 for other customers. The Netherlands
For unplanned outages more than 4 hours the network company has to compensate household customers €35, small companies €910 and large industries €0.35 per kW subscribed power up to €91000.
For unplanned outages, the network company guarantees reconnection within 24 hours. Customers without supply for more than 24 hours are compensated with €65 for households and €135 for companies. For each additional 12- hour interruption, €35 is paid additionally.
According to a 2001 law, all customers have a right to compensation. From 6 hours outage and for each following 6-hour period the transmission and distribution companies pay compensation corresponding to 2 % of the fixed annual charge.
And next, on improvements. Here in the U.S. here is information from a PDF from Galvin Power.org
In the early 1990s, Naperville’s municipal utility was not performing well and the city council held a vote on whether to sell it to the larger, area-wide utility. At this time, three or four customer outages per year were common. The sale was defeated by onlyone vote in the city council and the municipal utility leadership decided instead to pursue perfect power reliability without raising costs. They started applying the concepts behind what is today known as Six Sigma or quality improvement. Over a period of almost 20 years, the local grid was transformed into one of the most reliable suburban grids in the country — without raising rates.
Primen. (2001). The Cost of Power Disturbances to Industrial and Digital Economy Companies. Consortium for Electric Infrastructure to Support a Digital Society. Madison: EPRI.
Galvin Electricity Initiative. (2010, April). Naperville Case Study. Retrieved from Galvin Electricity Initiative
Jim Henson won't mind.