Pioneer SD-P50A5-K 50" Rear Projection Television "fire red doesnt start" Questions

...red lamp button stops blinking and stays lit. Your unit has some sort of PSU fault, or a problem that is shutting down the Power Supply Unit, PSU. This happens so that no further damage, and possible ...

red wire at the base of the flyback transformer, I taped the wire and the arc stopped. I was given the set and I am wondering if anyone may know what the problem might be and what it would cost to fix