Well not really, "electricity too cheap to meter" opens up all sorts of possibilities. Internal combustion engine transportation will be obsolete and transportation costs will collapse. The cost of running data centers collapses because refrigeration and electricity for powering computers, the major costs, becomes insignificant, so computing power will dramatically expand. Urban night will become like day with streetlights everywhere. Climate control will be available to almost all of the world population. Indoor agriculture will be feasible for most crops and worldwide hunger will be eliminated. We can expect major advances in science and technology because some scientific research is bound by the cost of energy. This just scratches the surface. Dirt cheap electricity will make changes akin to the industrial revolution.