About electricity and liquid products
Yes, this is a known phenomenon. It's a process called electroporation. Here's a paper talking about using it for sterilization. Basically, when you apply an electric field to a cell membrane, you can render it porous. At low field strength, the pores are small and can be closed by the cell, but if you apply a larger potential across the cell membrane, cell lysis is the result, killing the cell. It's actually used for killing cancerous tumour cells in humans.

Unfortunately the trick with doing it with something like milk is that, to get a large enough potential across the cells in the liquid, an enormous potential (up to 1 kV/mm) needs to be applied to electrodes immersed in the liquid, even though the cell membrane is only seeing a volt or two. For this to be manageable, you would probably need a thin flow cell or something. It could be a fair bit more expensive than pasteurization. Even though only a short pulse is used, electrolysis will occur, which could affect the taste. How well it works will also be affected by the electrical properties of the solution, which you can't necessarily play with too much in foods without changing the taste, so it might not be the best technique for foods, but there are certainly other areas where it's useful.