26 years ago at the end of the 1990's recession I ran a string a single phase line across the road, installed a pole, transformer, and 400A overhead service to my steel barn. I paid $2,500You are right. Probably a good idea to reserve a mortgage for this. It's ridiculous time so I'm prepare mentally to see the quotes. I still want to understand from where the huge cost is coming from.
If I'm going only underground the material list includes: wire for primary and secondary, conduit, warning tape, transformer and meter. Do I miss something? Does anybody knows how much cost 1 foot of primary wire which is required for 4KV line or lower voltage? Secondary for 200A service requires 2/0 copper which is at $10/foot, I see the PVC conduit 2.5" is around $6/foot. The pad transformer is around 2K and the meter under 1K. So the big unknow is the primary wire cost. Electrician labor to connect is another unknow but not se it more then 3K plus ESA inspection is around $500.
Over the years I've been having issues with ice dams falling off the roof onto the power mast going into the barn. For safety I thought it would be best to go underground from the pole to the barn about 25 feet. I have a BH and can do all the digging, just need the electrical contractor to do the pole and building terminations. One day job. Pre-covid I priced out the power line $3/ft. One day job for the contractor, tops. I called a dozen contractors. One showed up a month later and quoted $5K. This is before the covid price gouging euphoria we are currently in.
Good luck finding an electrical contractor right now in southern Ontario. Maybe if things are slower in Grey-Bruce you might have more luck finding a contractor not looking to buy a new 4x4 quad cab fully loaded diesel for cash on your job.
Above ground will be your cheapest option by far. You will pay a premium for underground as you will need heavier cable, conduit, BH fees.