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Electricity rates in New Mexico

Homes in New Mexico pay an average of 15.06¢ per kWh, 18% below the national average of 18.34¢. Enter your bill to see where you stand.

New Mexico average: 15.06¢/kWh
Avg monthly bill: $108
Past 12 months: +2.6%

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How New Mexico electricity prices compare

New Mexico ranks 14th cheapest of 51 (50 states plus D.C.) for residential electricity. At 15.06¢/kWh, it sits 18% below the national average of 18.34¢, and prices are up 2.6% over the past year.

The typical New Mexico household uses about 717 kWh a month and pays around $108. Among West states, Nevada, Utah and Idaho have lower rates.

Rate: 15.06¢
vs U.S.: −18%
Avg usage: 717 kWh
National rank: 14th

To find your own rate, divide your total bill by the kWh you used. If you paid $108 for 717 kWh, you're right at the New Mexico average.

Can you choose your electricity provider in New Mexico?

No. New Mexico is a regulated market: PNM, El Paso Electric and Xcel Energy both deliver and sell your power, and rates are set by the state utility commission. You can't switch supplier, but you can change how you pay, for example with a time-of-use plan, budget billing or efficiency upgrades.

Main electric utilities in New Mexico

Most New Mexico homes are served by PNM, El Paso Electric and Xcel Energy. Your utility's name and account number are near the top of your bill.

How to lower your electric bill in New Mexico

Ask your utility about time-of-use pricing. Shifting laundry, dishwashing and EV charging to off-peak hours can cut 5–15%.
Look at community solar. New Mexico has community solar programs that credit your bill for a share of a local solar farm, often 5–15% savings with no rooftop panels.
Tackle heating and cooling first. A smart thermostat and sealed air leaks usually save more than any other single change.
Check for assistance programs. LIHEAP and utility discount programs can lower bills for eligible households.

New Mexico electricity FAQ

What is the average electricity rate in New Mexico?

The average residential rate in New Mexico is 15.06 cents per kWh as of September 2026, 18% below the national average of 18.34¢.

What is the average electric bill in New Mexico?

About $108 per month, based on average use of roughly 717 kWh.

Can I switch electricity providers in New Mexico?

No. New Mexico is regulated, so your utility sells and delivers your power.

Who are the main electric utilities in New Mexico?

The main utilities in New Mexico are PNM, El Paso Electric and Xcel Energy.

Compare other West states

Averages are EIA residential revenue divided by kWh sold, September 2026. Your rate depends on your utility, plan and season. See all 50 states.