When you flip that switch, the drift velocity of charges in (on) the bare copper is only a few cm/s, but the field propagates at the speed of light, between the wire and it’s return (mathematically convenient ground). The energy is around the wires in the fields. The only true ground is at infinity.
If you can get that drilled into your head from early on, it will be beneficial to high speed circuits and RF. Introductory books never do that.