How many red rings was it ?
Also yeah the power is the number one thing that can cause this "accidental" red ring
Quite a funny joke if you do it to someone:
http://www.youtube.com/watch?v=1ucAiCxCDd0
It happens naturally in this country thanks to our power :P
The video explains everything.
Take a look at the MFR date from behind, if its 2009+ then really you have NOTHING to worry about when it comes to Red Ring
They are usually Jaspers
I have a late 2008 Elite Falcon - still going strong, purchased back in 2009
Useful:
http://beta.ivc.no/wiki/index.php/Xbox_360_Revisions
Unless you had prior graphic corruption, and experienced RRoD then be worried, if not then this is just a simple case of power - happened several times to me - ended when i bought a UPS.