No, I don't buy that one.... not completely, anyway. Always gotta be an "anti Trump" theory for everything that happens, though, right?
I know where I live in the Midwest, electricity prices have just gone up, up, up, ever since the Biden administration pushed the "clean, Green" agenda and power companies took steps like dismantling a perfectly good, working coal-fired plant near us. Then they dumped money into a big solar field in the middle of the city, where approval seemed to be rammed through City Hall despite most residents feeling very negatively about it. (This was a perfectly good chunk of land for a local park or other such use, and now it just looks unsightly.) Our governor decided, back then, to enact a "clean air" rule that forced power companies to build out more solar farms (or wind farms, though those haven't really made a lot of sense in most of the geography around here), and to shut down plants burning fossil fuels. (In reality, this typically turns into more of a scheme where the power company gets to decide if keeping the fossil fuel burning plant is profitable enough for them or not. If it is, they just pay out penalties to keep the status-quo, and that in turn funds small kickbacks to people with solar panels; SRECs.) Of course,. he conveniently wrote said legislation so it would retroactively go into effect in stages - making bills increase incrementally at least a year after he signed it into law. Helps make it harder for people to directly associate what he did with what they have to pay.
Capitalism itself has very little to do with this. There's no reason a power company can't just charge the biggest energy consumers a far higher rate, so everyone else's rate stays the same. It's the nature of it being a "public utility" that people have little choice but to pay for what's being provided. I mean, if it's TOO high, then someone can opt to build their OWN power generation facility. But that's rarely cost-effective or sensible. (In fact, they do this now when they find it convenient. Fast DC chargers for electric vehicles have such high rates to use them mostly for this reason. Power companies charge a "demand" fee on top of normal electricity generation prices on these, because of their sudden and relatively large power draw off the grid.