Independent resource. Not affiliated with any utility or energy provider. Data sourced from the U.S. Energy Information Administration.Verified June 2026
New Mexico Electricity Cost 2026: 15.15¢/kWh
New Mexico residential electricity rates average 15.15 cents per kWh in 2026, -19.5% vs the 18.83¢ US national average. The state operates a regulated retail market with natural gas as the primary generation source.
State Rate
15.15
cents/kWh
Monthly Bill
$131
at 863 kWh
vs National
-19.5%
national avg 18.83¢
Rank (cheapest first)
17/50
YoY change +5.6%
Market Type
Regulated
Supply rate set by state PUC
Primary Generation
Natural Gas
per EIA State Energy Profile
Annual Bill (avg usage)
$1,569
vs national $1,950
New Mexico electricity market
Regulated state served by Public Service Company of New Mexico (PNM) for most of the state, El Paso Electric in the south, and SWEPCO in the southeast. Generation mix is shifting from coal toward natural gas, solar, and wind.
Where New Mexico residents save
No retail competition. PNM offers optional TOU rates. Strong solar resource makes rooftop and community solar increasingly economic. The Energy Transition Act sets a 100% carbon-free electricity target by 2045.
Primary utilities
- Public Service Company of New Mexico (PNM)
- El Paso Electric
- SWEPCO
New Mexico bill estimates by usage
| Home Profile | Monthly kWh | Monthly Bill | Annual Bill |
|---|---|---|---|
| Apartment | 500 | $76 | $909 |
| Small house | 750 | $114 | $1,364 |
| Average household | 863 | $131 | $1,569 |
| Large house | 1200 | $182 | $2,182 |
| Large house + EV | 1500 | $227 | $2,727 |
Estimates use the New Mexico state-average rate of 15.15¢/kWh from EIA data. Your actual bill includes delivery charges, customer-service fees, and state/local taxes already blended into this retail rate, plus any locality-specific surcharges not captured at the state-average level.