No. power is expensive. There is no magic super power operator, which can do the same work in less time.
In some situations you can replace the power operation by accumulated multiplications:
a = rand;
X1 = a .^ (1:10);
X2 = cumprod(repmat(a, 1, 10));
But remember that this accumulates the rounding errors also, so for large powers it gets less accurate.
Another common case, where the power operation can be avoided:
Especially if this appear in loops or in functions to be integrated, the constant can save much time.