Latest update from Fife Council is that Scottish Power have located the fault in their power cable.
They plan to change the cut-out in the lampost that has the existing controller to enable the fuse to be changed. If the new cut-out will accept both the incoming services that it needs to then the pillar will be removed entirely.
If however that doesn’t work and the pillar is required, then they propose to relocate it to a shrub bed on the inside corner of the bend where The Row becomes Monimail Road (see attached map. the proposed new site is the blue circle).