In NY a buried electric service belongs to the property owner, so there is not an easement for utility company work. If you are not digging deep and if the wire belongs to you and if you are willing to deal with a wire problem, put the shed there. I would, if the wire needs work I would either put in a new wire somewhere else or drag the shed out of the way. Dig by hand and be careful. If you see a plastic tape, watch out.
Underground electric services are reasonably trouble free, but not immune from trouble.
Underground electric services are reasonably trouble free, but not immune from trouble.