The fact that the earth has a magnetic field does affect electrical equipment and in different ways too.
The magnetic field of the Earth causes the “magnetosphere”. This is a region around the Earth where the magnetic field traps charged particles. If there is a huge burst of particles from the sun, this delicate balance of particles and the Earth’s magnetic field can be messed up. These changes to the Earth’s magnetosphere (and also ionosphere) can result in big problems for electrical equipment.
For example, it can make SatNav systems not work properly. It can cause damage to the electronics on satellites. It can disrupt long-distance radio communications.
In extreme cases, it can also cause problems for wired-up equipment. There have been cases where fluctuations have caused problems for telegraphs and electrical equipment installed on long-pipelines. There is also one famous case in 1989, where a geomagnetic storm caused the power systems in parts of Canada to fail, resulting in huge power outages!