That's wild. My meter fee is like $15 and then my rate is less than $0.14 total, for delivery and supply.
Guess I'm burning coal.
I used ~200 kW-h last month, so at least it wouldn't ruin my life to pay $0.50 per. I don't have AC, so even with a gas furnace, the winter months tend to be my largest electric (running the blower and hydronic pumps).
Depending on where you live, it very well may be coal. Have a friend in Kentucky who pays about $0.105/kWh, but 70% of his electricity is coal powered.