Last time we had a power cut* a few months back I had torches out within about a minute of deciding it wasn't just a blip.
We're fairly well prepared at least for one that doesn't last too long with.
Multiple torches and lamps (erm two LED camera lights, 5 maglite minis, and about 4-6 headlight torches**) - I can lay my hands on at least one within 30 seconds. All with either enerloop type batteries in them, or Duracell's, with additional batteries handy in the same locations as two of the torches. There are also spare bulbs for the non led lights.
For heating if it comes to it, we've got a calor gas heater in the garage with an almost unused cylinder in it, and a spare.
We keep looking at a camping gas stove as well, but as we don't go camping it would likely never be used.
Note most of the above (including the gas heater) are because things like the torches are used for DIY or the garage, and I hate hunting around for torches so we keep one by the back door, a couple in the fuse cupboard (along with the batteries and bulbs), and in other locations around the house where they might prove handy.
One thing I am considering is a UPS for my PC, as whilst proper cuts are fairly rare still here, last winter it seemed we got a lot of blips where the lights would flicker for a fraction of a second, and several <15 second cuts (where I suspect a breaker tripped at the substation and had to wait to reset).
Re candles, pick up some tea light ones, and make sure you've got a couple of old ceramic plates.
They're not ideal (no candle is) for lighting because of the inherent fire risk if they get knocked/are left unattended, but tealight ones are small enough if you place them on a largish ceramic plate they can't spill over the sides, and low enough that they are pretty stable on such a plate. You can also often buy them in packs of 20-50 for a couple of pounds (I think Ikea sell scented ones 30 for £3).
[edit]
I forgot the electric drill, and ratchet with a 13mm socket - we've got a stairlift fitted and it's got a manual handle you can use at a pinch if the power is out which is basically a 13mm socket on a bar with a handle. The drill, or failing that the ratchet should let me get someone down without doing my wrists and hands in trying to use the emergency handle.
*Who knew that the town increasing in size massively over the last 5-10 years (something like a 20% increase in housing), would require more substations and a bigger main one.
**They were in the 99p shop - I bought one for each of the tool boxes, plus one for the car, and a couple for the house
