IEA’s chart for “final electricity price for large industrial customers in energy-intensive industries” [1] shows the US cheaper than China, but this is using data from Texas as representative. I’m not sure how they back this representation up, or how different this is from GPP “business” prices. So “most places in the US cheaper than China” may be wrong, but certain states or regions are at least competitive.

[1] https://www.iea.org/reports/electricity-2026/prices