You can use power frequency based methods or Higher frequency based methods.

refere to the following paper: Fault detection, classification and location for transmission lines and distribution systems: a review on the methods

http://ieeexplore.ieee.org/document/7510501/

You can use either a simple Decision Tree / Random forest / Support Vector Machine / Fuzzy Logic / Artificial Neural Network / Adaptive Neuro Fuzzy Inference System for the classification. But before that extracting the features extracting features from the electrical signals is necessary by doing fast fourier transforms and wavelet transforms. But these transforms will increase the computational overhead of the classification model.

power frequency spectrum steel the best way to detect fault

http://www.academia.edu/19780501/Fault_Location_Techniques