I had to make this repair recently. It did look like bad termination. The melt pattern on the C14 connector was the same on the front and the back, so it was hard to say which side had the bad connection. With enough tugging I was able to get the cord out, but both the cord and the socket were a lost cause. When installing the new panel connector I carefully tightened up the wire disconnect terminals with pliers before pushing them onto the back tabs. One brew in, no problems. Fingers crossed.
(Trying to double-check if I had the right name for the connectors, I bumped into another of life's mysteries - why is a connector that looks like a fork called a spade connector, which then apparently relegates connectors that looks like spades to being called disconnect terminals.
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