This is a good point. The cost of (grid) electricity isn’t a function of “what it costs to produce”; it’s instead “what the customers will bear”.

Remember that fossil fuels themselves are, effectively, a kind of “fiat commodity”. They’re worth exactly what people will pay for them.

For decades we’ve been in a cycle of increasing efficiency and prices. We spend our own money to drastically cut our use of some resource (based upon some technological improvement), and as soon as we do so the seller cranks up prices so we’re spending more for less.

For electricity, there is a kind of endgame. At some point prices are simply so high, and our use of resources so efficient, that utility cord-cutting becomes viable. Suddenly, you don’t need a huge national grid any more. You can trade power with your neighbors, have community-based wind generation, and so on.