Electricity rates — New Mexico
A household in New Mexico using 1,000 kWh a month pays about $2,121 a year on the cheapest of 2 generally available plans — 1A (Residential Service) from Public Service Co of NM, in effect since November 2025. Schedule retrieved October 8, 2026. A further 1 schedule is published but restricted — means-tested, closed to new customers, or limited to particular homes or equipment — and it is priced further down. Plans from El Paso Electric Co (New Mexico) are priced but not ranked: as recorded they come to well under what its customers were billed, by EIA-861.
- Average price
- 15.3¢ per kWh
- 12 months to June 2026
- Against the 12 months before
- +5.3%
- The 31st-largest rise of the 50 states
- Average bill
- $98 a month
- 12 months to June 2026, up 2.8% on the 12 months before, though homes used 2.4% less
Every priced plan in New Mexico, 1,000 kWh/mo
| Plan | Per year | vs cheapest | Effective |
|---|---|---|---|
| 1A (Residential Service)✓ cheapestPublic Service Co of NMpriced by season · tiered · in effect since November 2025 | $2,121.42 | — | 17.7¢ |
| 1B (Residential Service Time-Of-Use)Public Service Co of NMtime-of-use · in effect since November 2025 | $2,427.06 | +$305.64 | 20.2¢ |
| Priced but not ranked — restricted, older, or not verifiable as a bill | |||
| RS - TODEl Paso Electric Co (New Mexico)time-of-use · in effect since March 2024 · under what its customers were billed (EIA-861); not ranked | $943.28 | −$1,178.14 | 7.9¢ |
| 1A (Residential Whole House Electric Vehicle Rate Pilot)Public Service Co of NMtime-of-use · tiered · in effect since November 2025 · pilot programme | $1,804.61 | −$316.81 | 15.0¢ |
The cheapest plan in New Mexico at each level of use
- 500 kWh/mo — cheapest $999.78 (1A (Residential Service)), dearest $1,399.49, a $399.71 range
- 1,000 kWh/mo — cheapest $2,121.42 (1A (Residential Service)), dearest $2,427.06, a $305.64 range
- 2,000 kWh/mo — cheapest $4,482.28 (1B (Residential Service Time-Of-Use)), dearest $4,764.48, a $282.20 range
What households in New Mexico pay, by EIA's count
New Mexico sits between Georgia (15.0¢) and Arizona (15.4¢).
EIA lists 20 utilities serving homes in New Mexico. By homes served, the largest 5 are Public Service Co of NM (492,945), Southwestern Public Service Co (100,540), El Paso Electric Co (94,760), City of Farmington - (NM) (35,990), and Jemez Mountains Elec Coop, Inc (28,093). Member-owned cooperatives supply about 15% of its households.
Over five years they rose 15.8%, well behind the US's 34.7%.
New Mexico homes used the most electricity in July and the least in April (2021–2025): a summer peak, 1.8 times the lightest month. September was the dearest month per kWh, 16% above January.
The utilities with a ranked plan on this page serve about 53% of New Mexico's households: Public Service Co of NM (492,945). Their median plan at 1,000 kWh a month works out to 19.0¢ per kWh, 24% above EIA's average, which is why this page compares that median with other states'.
| Average price, 12 months to June 2026 | 15.3¢ |
|---|---|
| Among the 50 states and DC | 21 of 51, 1 = lowest |
| US average, same months | 17.9¢ |
| Change on the 12 months before | ↑ +5.3% |
| Change over five years | ↑ +15.8% (US ↑ +34.7%) |
| Average price in 2001 | 8.7¢ |
| Households, 2024 | 931,552 |
| Average use per home, 2024 | 657 kWh a month (US 872) |
| Average bill per home, 2024 | $93.33 a month (US $143.64) |
Chart of this for reuse (PNG), free to republish under CC BY 4.0 with credit to WattClear.
Every year’s figure for New Mexico
| Year | New Mexico | US |
|---|---|---|
| 2025 | 15.1¢ | 17.3¢ |
| 2024 | 14.2¢ | 16.5¢ |
| 2023 | 13.8¢ | 16.0¢ |
| 2022 | 13.8¢ | 15.0¢ |
| 2021 | 13.5¢ | 13.7¢ |
| 2020 | 12.9¢ | 13.2¢ |
| 2019 | 12.5¢ | 13.0¢ |
| 2018 | 12.7¢ | 12.9¢ |
| 2017 | 12.9¢ | 12.9¢ |
| 2016 | 12.0¢ | 12.5¢ |
| 2015 | 12.5¢ | 12.7¢ |
| 2014 | 12.3¢ | 12.5¢ |
| 2013 | 11.7¢ | 12.1¢ |
| 2012 | 11.4¢ | 11.9¢ |
| 2011 | 11.0¢ | 11.7¢ |
| 2010 | 10.5¢ | 11.5¢ |
| 2009 | 10.0¢ | 11.5¢ |
| 2008 | 10.0¢ | 11.3¢ |
| 2007 | 9.1¢ | 10.7¢ |
| 2006 | 9.1¢ | 10.4¢ |
| 2005 | 9.1¢ | 9.4¢ |
| 2004 | 8.7¢ | 8.9¢ |
| 2003 | 8.7¢ | 8.7¢ |
| 2002 | 8.5¢ | 8.4¢ |
| 2001 | 8.7¢ | 8.6¢ |
Highest in July, $133; lowest in April, $67.
Every month’s bill in New Mexico
| Month | Average bill |
|---|---|
| January | $93 |
| February | $83 |
| March | $75 |
| April | $67 |
| May | $74 |
| June | $106 |
| July | $133 |
| August | $130 |
| September | $103 |
| October | $79 |
| November | $77 |
| December | $88 |
In the guides: Summer and winter bills, state by state
How New Mexico compares
At 1,000 kWh a month the median plan in New Mexico costs $2,274.24 a year: the 16th-highest of the 31 states whose indexed plans stand for them, and about the same as their median of $2,274.24. It sits between Wisconsin ($2,193.54) and Washington, DC ($2,332.96).
Its cheapest open plan, 1A (Residential Service) from Public Service Co of NM at $2,121.42, is the 15th-highest of the 31 states' cheapest plans.
3 of its 4 priceable plans price by the hour, the 2nd-largest share of any state here.
In the guides: What published electricity plans cost, state by state · What a plan charges by the hour, and what moving a kilowatt-hour is worth
How New Mexico's plans are structured
Of 4 priceable plans: 2 tiered, 3 time-of-use, 1 priced by season.
Fixed monthly charges run from $7.00 to $30.99.
Who provides New Mexico's plans
These plans come from 2 utilities: El Paso Electric Co (New Mexico), Public Service Co of NM.