I'm sure it's possible that they're using the existing underground network when it comes to actually powering the city, but that's not what I mean. The transmission towers that connect the dam to vegas are completely destroyed, as are the lines connecting the El Dorado substation to Helios and elsewhere. In real life the Dam isn't connected to everything via underground lines lol. The power has to get to the underground lines first, and in this wasteland it seems rather impossible.
The Fallout is set in an alternate reality, nuclear apocalypse occurring about 50 years from present time. Even if the underground lines don't exist to the same extent in our modern reality, in the Fallout universe it is still plausible.
I like to think that the overhead lines were primaries for residential and commercial purposes, while secondary underground lines were put in place for important businesses and utilities in and around Vegas.