New MexicoElectricity Rates & Utility Costs
The average residential electricity rate in New Mexico is 15.34¢/kWh, which is around the national average. That's 10.9% lower than the national average.
Residential
15.34¢
per kWh
Commercial
12.08¢
per kWh
Industrial
7.36¢
per kWh
Avg Monthly Bill
$100
residential
New Mexico vs National Average
| Metric | New Mexico | National Avg | Difference |
|---|---|---|---|
| Residential Rate | 15.34¢/kWh | 17.22¢/kWh | -1.88¢ |
| Monthly Bill | $100 | $134 | $-34.00 |
| Renewable Energy | 28.0% | ~22% | Above avg |
| Primary Source | Natural Gas | ||
Why Electricity Is Affordable in New Mexico
New Mexico's electricity rates are close to the national average. The state relies primarily on Natural Gas for power generation, with renewable sources making up 28.0% of the mix. Competitive market options and moderate generation costs help keep rates stable.
Utility Companies in New Mexico
| Utility | Avg Rate | Customers | Type |
|---|---|---|---|
| PNM | 15.34¢/kWh | 540,000 | electric |
| El Paso Electric NM | 14.80¢/kWh | 100,000 | electric |
Appliance Running Costs in New Mexico
Based on New Mexico's residential rate of 15.34¢/kWh.
| Appliance | Watts | Hours/Day | Monthly Cost | Annual Cost |
|---|---|---|---|---|
| Air Purifier | 50 | 24 | $5.52 | $66.27 |
| Blender | 400 | 0.1 | $0.18 | $2.21 |
| CFL Bulb (13W) | 13 | 8 | $0.48 | $5.74 |
| Cable / Satellite Box | 35 | 24 | $3.87 | $46.39 |
| Ceiling Fan | 75 | 12 | $4.14 | $49.70 |
| Central Air Conditioner | 3,500 | 8 | $128.86 | $1,546.27 |
| Chest Freezer | 80 | 24 | $8.84 | $106.03 |
| Clothes Dryer (Electric) | 3,000 | 1 | $13.81 | $165.67 |
| Coffee Maker | 900 | 0.25 | $1.04 | $12.43 |
| Crypto Mining Rig | 1,500 | 24 | $165.67 | $1,988.06 |
| Dehumidifier | 300 | 12 | $16.57 | $198.81 |
| Desktop Computer | 200 | 8 | $7.36 | $88.36 |
| Dishwasher | 1,800 | 1 | $8.28 | $99.40 |
| Electric Baseboard Heater | 1,000 | 10 | $46.02 | $552.24 |
| Electric Fireplace | 1,400 | 4 | $25.77 | $309.25 |
Compare With Other States
More Data for New Mexico
Frequently Asked Questions
What is the average electricity rate in New Mexico?
The average residential electricity rate in New Mexico is 15.34¢ per kWh, which is 10.9% below the national average of 17.22¢/kWh.
How much is the average monthly electric bill in New Mexico?
The average monthly residential electric bill in New Mexico is $100, compared to the national average of $134.
Why is electricity cheap in New Mexico?
New Mexico's electricity rates are close to the national average. The state relies primarily on Natural Gas for power generation, with renewable sources making up 28.0% of the mix. Competitive market options and moderate generation costs help keep rates stable.
What is the main energy source in New Mexico?
The primary energy source in New Mexico is Natural Gas, with 28.0% of electricity coming from renewable sources.
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Data verified March 2026 · Source: U.S. Energy Information Administration (EIA)