Over multiples of a period (T), the net energy, hence the power is zero in case of full reflection of waves. However there can be back and forth energy exchange, as is the case with a capacitor that is charged and discharged.
So when an open or shorted transmission line doesn't show a short or open circuit to the source (that means the transmission line behaves as a reactive load), there is exchange of energy from the source to the transmission line and back, but the net energy is zero. You are correct, electrons can move (oscillate), like a ball connected to a lossless spring in vacuo. You only have to supply the energy to start the oscillation of the mass spring sysem.
In a wave it is the same, you need to supply energy to fill the space with EM fields, but once the wavefront returns to the source, there will be no net energy exchange anymore. When the source becomes zero (but keeps its impedance), the energy that is in the standing wave pattern returns to the source and is absorbed there. So in the end, there is no net energy exchange.
Regarding oscillation of energy, you are correct in that. The energy oscillates between the magnetic field and the electric field. When the E-field standing wave pattern is maximum, there is no H-field and all the energy is stored into the electric field. T/4 seconds later, the H-field standing wave pattern reaches its maximum (and there is no E-field anymore) and all energy is in the magnetic field.
It is the same sitaution as a standing wave pattern in a rope where travelling waves move back and forth (as long as the rope is connected to a stiff non-absorbing tie point). When the amplitude is maximum, the velocity of all the mass in the rope is zero, and all energy is stored as elastic energy (like energy storage in a spring). When the rope is fully straigth, the lateral velocity is maximum, hence all energy is stored as kinetic enery.
You may start with the DC case in a parallel pair of strips (as this approaches the plane wave situation). The E-field lines go from strip to strip (like in a parallel plate capacitor), and the H-field lines go between the strips, perpendicular to the E-field. You will only have instantaneous power (dE/dt) when you have E- and H- components that are perpendicular to each other (therefore there is cross product in the Poynting Theorem). If in the time domain H and E are 90 degrees apart, the net energy over T is zero.
You can make it very complicated when you have wave fronts that travel in non-opposite direction. Then the direction of the E and H fields change versus time.