In July 2026, homes in New Mexico paid an average of 16.09¢ per kWh, the 25th cheapest of the 50 states and DC and 12.1% below the U.S. average of 18.31¢.
That price is roughly flat compared with a year earlier (up 1.8%).
Over the past 12 months the average home in New Mexico used 649 kWh a month, for an average bill of $99 (U.S.: $157).
About electricity in New Mexico
Wind has become New Mexico's largest source of electricity, ahead of natural gas and coal, and the state generates more power than it uses.
- wind 36%
- natural gas 27%
- coal 21%
- solar 16%
The New Mexico Public Regulation Commission is the state agency that regulates electric utilities in New Mexico.
Average electric bill in New Mexico
Over the last 12 months the average New Mexico home paid $99 a month for electricity, the lowest of the 50 states and DC. In July 2026 the average bill was $152 for 942 kWh.
Over the last 12 months, homes in New Mexico used the most electricity in July, when air conditioning drives usage up: an average of 942 kWh and a $152 bill. The lightest month was April, at 486 kWh and $74.
What would I pay?
| Monthly use | Per month | Per year |
|---|---|---|
| 500 kWh × 16.09¢typical | $80.45 | $965 |
| 1,000 kWh × 16.09¢ | $160.90 | $1,931 |
| 1,500 kWh × 16.09¢ | $241.35 | $2,896 |
| 2,000 kWh × 16.09¢ | $321.80 | $3,862 |
Estimate your own bill
Cost of electricity in New Mexico by month
Businesses in New Mexico paid 11.90¢ per kWh in July 2026 (the 18th cheapest for business power), and industrial users paid 4.16¢.
Electric companies in New Mexico
20 utilities deliver electricity to homes in New Mexico. The largest is Public Service Co of NM, serving 496,914 homes.
| Utility | Homes served | Avg. home rate |
|---|---|---|
| Public Service Co of NM | 496,914 | 16.35¢ |
| Southwestern Public Service Co | 101,203 | 12.86¢ |
| El Paso Electric Co | 97,258 | 10.34¢ |
| City of Farmington | 36,031 | 12.95¢ |
| Jemez Mountains Elec Coop, Inc | 28,185 | 15.76¢ |
| Kit Carson Electric Coop, Inc | 26,286 | 15.68¢ |
| Continental Divide El Coop Inc | 20,474 | 16.87¢ |
| Central New Mexico El Coop, Inc | 19,323 | 17.39¢ |
| Otero County Electric Coop Inc | 16,517 | 19.56¢ |
| Farmers Electric Coop, Inc | 10,310 | 13.68¢ |
"Avg. home rate" is what each utility's full-service residential customers paid on average in 2025 (revenue ÷ kWh sold). Delivery-only utilities have no full-service rate.
Can you choose your electricity supplier in New Mexico?
No. Households in New Mexico buy electricity from the utility that serves their address. Rates are set by the state utility commission (for investor-owned utilities) or by the utility's own board (for co-ops and city-owned utilities).
New Mexico compared with neighboring states
| State | Price per kWh | Avg. monthly bill (12 mo.) |
|---|---|---|
| Oklahoma | 14.35¢ | $144 |
| Arizona | 15.38¢ | $162 |
| Texas | 15.88¢ | $176 |
| New Mexico | 16.09¢ | $99 |
| Colorado | 17.00¢ | $112 |
New Mexico electricity FAQ
What is the average electric bill in New Mexico?
The average home in New Mexico paid $99 a month over the last 12 months, using 649 kWh. That is the lowest of the 50 states and DC. In July 2026 alone, the average bill was $152.
How much does electricity cost per kWh in New Mexico?
Homes paid an average of 16.09¢ per kWh in July 2026, 12.1% below the U.S. average of 18.31¢. Businesses paid 11.90¢ per kWh.
Which month has the highest electric bills in New Mexico?
July, in the last 12 months of data: the average bill reached $152 (942 kWh), compared with $74 in April, the lowest month.
Can I choose my electricity provider in New Mexico?
No. Households in New Mexico buy electricity from the utility that serves their address, at rates set by regulators or the utility's board.
What are the largest electric companies in New Mexico?
By number of residential customers in 2025: Public Service Co of NM (496,914), Southwestern Public Service Co (101,203), El Paso Electric Co (97,258).
Latest NM electric rates, bills and usage: U.S. Energy Information Administration retail sales data (forms EIA-861M and EIA-861), latest month July 2026. Utilities and suppliers: EIA-861 (2025). Bills and usage are revenue and sales divided by customers. Last updated 2026-10-20.