Historically, yes. But the prices are generally not bad compared to what I’ve heard in other countries. For instance, the main power utility near me for residential service charges a base fee of $14/month to be connected to the grid and 11.661¢/kWh ($0.11661/kWh). There are some exceptions to this, of course. I actually live in a small town that for whatever reason has historically operated its own electric utility. They maintain the local grid and connections to homes but don’t have generators. They buy the electricity from the previously mentioned utility at a wholesale rate of around 6.5¢/kWh and we as customers pay 10.4¢/kWh. Our base connection fee is closer to $25/month but that also covers our water and sewer connection and trash (including yard waste) and recycling collection. Our town has a good solar energy program, though, so a lot of homes have put solar panels on their roof and there have been days where the town has generated 100% of its electricity from solar panels in the town.
There are some areas that have gone for a more “deregulated” approach where customers have a choice of who they pay for their electricity. I’m not sure how that really works, though, since I don’t think companies are out there building additional electric lines for their customers. Texas is one of the main places I can think that has done this but it seems like the companies have made higher profits for themselves while lowering prices by not maintaining the grid. I have a friend who lives in Texas and he’s always complaining about losing power randomly. I think California was trying to do something similar a long time ago but I’m not sure they’re doing that anymore. That was tied to the whole Enron debacle. I can recommend a book called Conspiracy of Fools by Kurt Eichenwald for more on Enron; it’s not Explain Like I’m Five but still pretty easy to follow even if you don’t understand the accounting concepts they ignored.