There can be a number of scenarios with the errors experienced. Issues ranging from UPS issues to power distribution board issues. What server model are the errors originating from? From the errors, only power supply 2 is giving specific errors. This potentially can directly cause power supply 1 to have issues. Are there any lights other than the green light on PS2, perhaps the amber light? Also, are the power supplies connected via a Y cable?
What I would advise doing is powering down, swapping power supply 2 with power supply 1 and clear the hardware log and monitor from there. Obviously if either power supply has an amber light, that would indicate the failure.
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