PNM electricity rates
Public Service Co of NM, as the EIA and URDB list it
Public Service Co of NM's customers paid 15.6¢ per kWh in 2024, riders included (EIA-861): about $89 a month for 574 kWh. 1A (Residential Service), the lowest of 2 open plans at 1,000 kWh a month, comes to $2,121 a year. Schedule retrieved October 8, 2026.
Every priced Public Service Co of NM plan, 1,000 kWh/mo
| Plan | Per year | vs cheapest | Effective |
|---|---|---|---|
| 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 | $2,427.06 | +$305.64 | 20.2¢ |
| Priced but not ranked — restricted, older, or not verifiable as a bill | |||
| 1A (Residential Whole House Electric Vehicle Rate Pilot)time-of-use · tiered · in effect since November 2025 · pilot programme | $1,804.61 | −$316.81 | 15.0¢ |
Price Public Service Co of NM’s plans at your own usage
The cheapest Public Service Co of NM plan at each level of use
- 500 kWh/mo — cheapest $999.78 (1A (Residential Service)), dearest $1,399.49, a $399.71 spread
- 1,000 kWh/mo — cheapest $2,121.42 (1A (Residential Service)), dearest $2,427.06, a $305.64 spread
- 2,000 kWh/mo — cheapest $4,482.28 (1B (Residential Service Time-Of-Use)), dearest $4,764.48, a $282.20 spread
What Public Service Co of NM's customers were billed in 2024
Public Service Co of NM's open plans and its customers' bills disagree by more than a quarter: at 574 kWh a month, the median plan is 19.7¢ per kWh against 15.6¢ billed in 2024. Before relying on a plan price here, test it against a real Public Service Co of NM bill in the bill analyzer.
| 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 | 19.7¢ |
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 the 1B (Residential Service Time-Of-Use) bill at 1,000 kWh has moved since 2014
Public Service Co of NM's 1B (Residential Service Time-Of-Use) cost $140.28 a month under its April 2014 version and costs $202.26 under its November 2025 one, 44% more. Its biggest single step, in November 2025, added $56.78 (39%). In New Mexico, EIA's average price rose 23% between 2014 and 2025.
Every version of 1B (Residential Service Time-Of-Use)
| Took effect | At 1,000 kWh | Change | Record |
|---|---|---|---|
| November 2025 | $202.26 | +$56.78 (+39.0%) | URDB |
| May 2024 | $145.48 | +$12.28 (+9.2%) | URDB |
| January 2022 | $133.20 | −$2.18 (−1.6%) | URDB |
| January 2021 | $135.38 | +$1.06 (+0.8%) | URDB |
| January 2019 | $134.32 | +$2.19 (+1.7%) | URDB |
| January 2017 | $132.13 | −$15.59 (−10.6%) | URDB |
| February 2016 | $147.72 | +$7.44 (+5.3%) | URDB |
| April 2014 | $140.28 | First on record | URDB |
In the guides: Why electricity rates change
How it compares
Among the 100 utilities indexed, Public Service Co of NM's cheapest open plan is the 39th-highest, 13% more than their median of $1,877.14. It sits between Interstate Power and Light Co ($2,095.41) and Idaho Power Co ($2,124.20).
1A (Residential Service) is tiered: past 450 kWh a month, each kWh costs 5.6¢ more. Of the 47 utilities whose plans step, that is the 8th-largest step.
In the guides: The price that changes once the meter passes a line
Cheapest 3 plans at 1,000 kWh a month
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) — $2,427.06 a year, 20.2¢ per kWh effective, time-of-use. It carries a $30.99 monthly standing charge. In effect since November 2025.
1A (Residential Whole House Electric Vehicle Rate Pilot) — $1,804.61 a year, 15.0¢ per kWh effective, tiered and time-of-use. It carries a $12.79 monthly standing charge. In effect since November 2025. Restricted: pilot programme.
How Public Service Co of NM's 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.
Public Service Co of NM's published schedules
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.
When Public Service Co of NM's time-of-use plans charge most
1B (Residential Service Time-Of-Use) charges 27.7¢ a kWh weekdays 8 am to 8 pm, June to August, against 12.4¢ in its cheapest hours; those dearest hours are 9% of the year. Homes in New Mexico typically put 11% of their electricity in them (NREL ResStock).
In the guides: Time-of-use plans, hour by hour