They are outrageously expensive compared to my hydro Quebec rate of USD $0.05/kWh, or even my previous rate in Ontario of (varying by the the time of day) USD $0.06-0.12/kWh.

96% of Quebec electricity is generated by hydro power, which of course doesn’t require any fuel. The other thing, though, is that power generation and transmission is done through a public corporation, not a private one. The profits go into general government revenue.