That does seem a bit peculiar. I have sent you a friends request here on the forums. The request includes my email address. Can you please email me the output from # show tech? I would like to investigate this further. 
My N3048P front panel Power LED always in status OFF.  When I use locator function, LED Blinking green. The firmware version is 6.1.2.4. After upgrade to 6.2.0.5（I also tried 6.2.72), problem not  solved, but console continuous printing “hpc_poe_pwrdsne.c(6087) 348 %% Unable to program Power Banks 0x0  hpc_poe_platform.c(615) 349 %% Unable to get Max Power Value  hpc_poe_platform.c(436) 350 %% Did not find the proper combination!!”.( Firmware version 6.1.x.x does not print these message) console#show system power Power Supplies: Unit Description Status Average Current Since Power Power Date/Time (Watts) (Watts)---- ----------- ----------- ---------- -------- -------------------1 System OK 34.8 36.21 PS-1 Failure1 PS-2 Failure console#  
PowerConnect N3048P show system power Failure