Formatting will not finish

[dusty50]

I am running XP and have formatted before with no problems.
Yesterday I started to format and when it was at the point of installing windows, we heard a large crack of thunder and the power went out for a minute, which in turn shut my computer down. When I restarted it, it had returned to the part where it said 'Setup is being restarted" It continued on installing but I had to put in all the info again Ie Product Key, etc. Yes my Product Key is legit and good.
It makes it all the way till the last 3 minutes then loops back and starts reinstalling again!
When I checked the error log it states:
Error: Setup could not register the OLE Control C:\Windows\system32\eventcls.dll because of the following error 2147549183 (8000ffff)
Error: Setup could not register the OLE Control C:\Windows\system32\swprv.dll because of the following error 2147549183 (8000ffff)
I am at a loss as to what to do next?
Do I need a new hard drive or something else?
Please note I am comfortable trying anything to fix anything on my computer but am not a tech and won't understand real tech talk.
Thanks for any help.

[gerbil]

Formatting.. installing... they are very different things. It could be that Setup thinks it has written files but there are errors which it has not noticed upon resuming installation.
Okay, try a full check of your disk surface - you can get Setup to do that: start Setup afresh, if there are no other partitions on it then delete the old partition and create a new one, then or else do a Full Format of your selected partition, go on with the installation.
[A quick format deletes the old Master File Table, a full format does that plus chkdsk of that partition].