Electricity rates — Public Service Co of NM
A household served by Public Service Co of NM using 1,000 kWh a month pays about $2,121.42 a year on the cheapest of 2 generally available plans — 1A (Residential Service) from Public Service Co of NM, in effect since November 2025. Rates checked September 23, 2026. A further 1 schedule is published but restricted — means-tested, closed to new customers, or needing particular equipment — and it is priced further down.
Every priced plan, 1,000 kWh/mo
| Plan | Per year | vs cheapest | Effective |
|---|---|---|---|
| 1A (Residential Whole House Electric Vehicle Rate Pilot)time-of-use · tiered · in effect since November 2025 · pilot programme | $1,677.63 | −$443.79 | 14.0¢ |
| 1A (Residential Service)✓ cheapestpriced by season · tiered · in effect since November 2025 | $2,121.42 | — | 17.7¢ |
| 1B (Residential Service Time-Of-Use)time-of-use · in effect since November 2025 | $2,355.95 | +$234.53 | 19.6¢ |
Cost across usage levels
The cheapest plan at each consumption level, showing whether the ranking holds as usage changes.
- 500 kWh/mo — cheapest $999.78 (1A (Residential Service)), dearest $1,363.90, a $364.12 spread
- 1,000 kWh/mo — cheapest $2,121.42 (1A (Residential Service)), dearest $2,355.95, a $234.53 spread
- 2,000 kWh/mo — cheapest $4,340.03 (1B (Residential Service Time-Of-Use)), dearest $4,764.48, a $424.45 spread
What a typical bill costs
At 1,000 kWh a month the 2 generally available plans here run from $2,121.42 on 1A (Residential Service) to $2,355.95 on 1B (Residential Service Time-Of-Use), with a median of $2,238.69.
Effective rates, bill divided by kilowatt-hours, span 17.7¢ to 19.6¢ per kWh at that usage.
What Public Service Co of NM's customers were billed in 2024
At 574 kWh a month, Public Service Co of NM's median open plan comes to 19.4¢ per kWh, 24% above the 15.6¢ its customers were billed in 2024, riders included. Rates set since 2024 account for some of that.
| Ownership, as EIA classes it | Investor-owned |
|---|---|
| Full-service homes in New Mexico | 492,945 |
| Share of New Mexico's households | 53% |
| Average use per home | 574 kWh a month |
| Average bill per home | $89.42 a month |
| Billed per kWh, riders included | 15.6¢ |
| Median open plan here, at that use | 19.4¢ |
Public Service Co of NM in U.S. Energy Information Administration, Form EIA-861, 2024 (Sales_Ult_Cust_2024.xlsx), retrieved September 23, 2026.
How it compares
Among the 109 utilities indexed, Public Service Co of NM's cheapest open plan is the 29th-highest, 29% more than their median of $1,649.16. It sits between Duke Energy Indiana Inc ($1,970.15) and NorthWestern Energy ($2,130.72).
In New Mexico it is the dearest of the 2 utilities indexed; El Paso Electric Co (New Mexico) starts lowest, at $899.54.
1A (Residential Service) is tiered: past 450 kWh a month, each kWh costs 5.6¢ more. Of the 51 utilities whose plans step, that is the 7th-largest step.
In the guides: The price that changes once the meter passes a line
How the answer changes with usage
The cheapest plan from Public Service Co of NM changes with consumption. At 500 kWh a month 1A (Residential Service) wins at $999.78 a year; at 2,000 kWh 1B (Residential Service Time-Of-Use) wins at $4,340.03.
Cheapest 3 plans at 1,000 kWh a month
1A (Residential Whole House Electric Vehicle Rate Pilot) — $1,677.63 a year, 14.0¢ per kWh effective, tiered and time-of-use. It carries a $12.79 monthly standing charge. In effect since November 2025. Restricted: pilot programme.
1A (Residential Service) — $2,121.42 a year, 17.7¢ per kWh effective, tiered and priced by season. It carries a $12.79 monthly standing charge. In effect since November 2025.
1B (Residential Service Time-Of-Use) — $2,355.95 a year, 19.6¢ per kWh effective, time-of-use. It carries a $30.99 monthly standing charge. In effect since November 2025.
How these plans are structured
Of 3 priceable plans: 2 tiered, 2 time-of-use, 1 priced by season.
Fixed monthly charges run from $12.79 to $30.99.
Who provides these plans
EIA-861 lists Public Service Co of NM serving homes in New Mexico and in no other state, which is how its plans are placed there. 3 of its 3 published residential schedules can be priced.
The largest saving available here
Moving from 1B (Residential Service Time-Of-Use) to 1A (Residential Service) saves $234.53 a year at 1,000 kWh a month, with no change in consumption.
What this does not cover
2 of these plans price by the hour, so their figures are marked lower confidence.
New to these terms? The methodology page explains tiered bands, time-of-use periods and fixed charges, and sets out exactly what the rate engine assumes.
Estimate — your actual bill may differ.
Tariff structures from NREL/OpenEI Utility Rate Database (CC0 1.0), retrieved September 23, 2026.