I'm curious what could happen if the BIOS flashing process is interrupted by a power failure, because in my region power cuts can occur. What are the possible repercussions?
Are you referring to the POST process? If so, there is absolutely no harm that comes from power being cut.
If you're referring to updating your BIOS via flashing it, then cutting power in the middle of the flash would brick your motherboard.
BIOS was (it is now superseded by the more modular UEFI) a piece of code to start the computer and installing its operating system. It is the first significant step of the boot process.
When you clear the BIOS code, the computer cannot boot and cannot load the operation system. Changing the code partially will make the computer unable to boot. This is what happen if the rewriting of the BIOS is interrupted.
Some manufacturers add some security to prevent BIOS loss if the BIOS get corrupted during the update process: The BIOS is duplicated into a "second BIOS" location before erasing the regular BIOS location. If the update process is interrupted, the BIOS can be restored from the copy. This is commonly named dual BIOS safety.