Hardware :: Sparking Sound Heard From Stripped Power Adapter

So my second power adapter for my Powerbook is dead (it replaced the original via applecare). I have had problems with it and even have tripped on the cord while plugged in thereby probably damaging it. I have heard the usual sparking sounds and have recently saw the blue spark ignite from the plug while out of the powerbook and in order to get green/orange connection light I've had to twist the plug until it lights up. After reading other people's problems I decided to look at the plug and noticed that the metal is stripped all around the main plug as you can see in the picture. So I am down to my backup (purchased before asking if applecare covered power adapters) which has the exact same problems.