Yes, if the belt slips.
Yes if that belt is connected from the cam to the alternator
Timing belt
Loss of power when accelerating can be caused by a number of things. A leak in the fuel line or even a bad alternator can cause this.
dead battery
I would start with your battery.
I wouldn't think the timing belt would be causing you a loss in power. If something was going wrong with the timing belt, I would imagine that you would be noticing all kinds of other problems instead of just a loss of power.I would do a complete tune up.Change the spark plugs,spark plug wires,and cap and rotor.I Also would only use Honda genuine parts.It will cost you around $120(check out eBay for Honda oem parts)
* No power steering fluid in reservoir * The power steering pump is not operating
A Loss of power or the blanking signal is on to begin with.
alternator
Common signs are: Hesitation, poor running, valve clatter, and loss of power. A broken timing belt or timing chain can cause an engine to stop running or cause the valves to crash to the pistons.
if it makes a loud whinning noise when you turn power steering pump bad or needs fluid if not it might be a popped belt