I received 1099-MISC from my electric company that has an amount in box 3. do i report it?

Yes, this needs to be reported as Other Income. This is taxable income.

Take the following steps:  

1. Sign in to TurboTax Online, click Continue your return, then pick up where I left off (if you are using TurboTax CD/ Download, then just open your return on your computer); 
2. Click on Federal Taxes at the top of the screen; 
3. Scroll down the page to the section titled: Other Common Income and click show more; 
4. Select start or update next to the topic titled Form 1099-Misc; 
5. Answer Yes, to the questions Did you get a 1099-Misc? 
6. Enter the information from your 1099-Misc. 
7. Enter Electric Company Payment for a reason for the 1099-Misc 
8. None of the uncommon situations will probably apply, and if so, you can click None of these apply 
9. Select No; it didn't involve work that's like your main job. 
10. Indicate how often you get this income. 
11. Select No; the Electric Company Payment did not involve an intent to earn money.