It's not JUST the electricity that you pay for every month. There are other costs enfolded into the charges for your electricity, even if they are not spelled out on the bill. The additional money goes to things like the cost of wildfire mitigation, and the compensation for victims of wildfires.
A recent study of such charges, performed by the University of California's Energy Institute at Haas, finds that the additional charges fall more heavily on low-income households, like a regressive tax. And high rates make for a disincentive to switch to all-electric households and transportation.
The report makes recommendations for cleaning up the inequities, and we get further details from Meredith Fowlie, the Faculty Director at the institute. We get additional information from Noel Perry, the founder of the nonprofit Next 10.