It is not used to produce electricity, but rather to replace the electricity that would be used to produce heat. That is true. Geothermal energy produces heat. Ultimately, people will save on electricity, without doubt, particularly if they heat with electricity, which 32% of homes in Canada do. So people will save on electricity.
In addition, I agree that the new drilling techniques allow for much more shallow drilling, and thus make it possible to serve a much larger area, rather than having a system for each house, which is more costly.