Yes.  For those learning the Japanese language, it is important to note that 電 is used almost exclusively in compounds.  Other common compounds include: 電話(denwa) - telephone, 電球(denkyū) - light bulb and 雷電(raiden) - thunder.

Its original meaning in Chinese is "lightning", but it is rarely used to represent the native Japanese word "inazuma", which is usually written as "稲妻".