They buried all the local infrastructure lines last year in my area. Power, communications, gas.
That actually could be a problem in a flood. Outside Plant techs are supposed to use sealed splice cases for telecom, but high voltage stuff is probably not sealed against immersion, so if the right vaults flood then the power goes out. On top of that the transformers are all at ground level too.
My neighborhood has buried electrical and low-voltage, but the main distribution lines to the neighborhood themselves are above ground. This seems like a good compromise, keeps the bulk of the neighborhood looking nice but means that if one neighborhood takes a hit it many not knock out otherwise-unaffected neighborhoods.