New Mexico Electricity Rates and Average Bill
Data through May 2026 (the latest month EIA has published) · Updated August 14, 2026
As of May 2026, the average residential electricity rate in New Mexico is 14.12¢/kWh (the 8th-lowest in the U.S.) and the average monthly bill is $82.27, per EIA data. That rate is 4.3¢ below the U.S. average of 18.44¢/kWh.
Rate trend, last three years
View this chart as a table (last 12 months)
| Month | Rate (¢/kWh) | Avg bill ($/mo) | Avg usage (kWh/mo) |
|---|---|---|---|
| June 2025 | 14.68 | 115.59 | 787 |
| July 2025 | 15.80 | 141.04 | 893 |
| August 2025 | 16.19 | 140.96 | 871 |
| September 2025 | 16.52 | 111.10 | 673 |
| October 2025 | 14.95 | 84.53 | 565 |
| November 2025 | 15.61 | 79.20 | 507 |
| December 2025 | 14.66 | 91.51 | 624 |
| January 2026 | 14.70 | 98.87 | 673 |
| February 2026 | 15.07 | 82.62 | 548 |
| March 2026 | 14.81 | 74.99 | 506 |
| April 2026 | 15.15 | 73.61 | 486 |
| May 2026 | 14.12 | 82.27 | 583 |
New Mexico vs the U.S. average
| New Mexico | U.S. average | |
|---|---|---|
| Rate (May 2026) | 14.12¢/kWh | 18.44¢/kWh |
| Average monthly bill | $82.27 | $135.70 |
| Average monthly usage | 583 kWh | 736 kWh |
| Rate change, 1 year | −2.6% | +6.2% |
| Rate change, 5 years | +7.2% | +33.0% |
New Mexico's average residential rate of 14.12¢/kWh for May 2026 ranks 8th of 51 (1 = lowest). Over the past year the rate moved −2.6% (New Mexico) versus +6.2% nationally; over five years, +7.2% versus +33.0% nationally. Average usage of 583 kWh/month compares with 736 kWh nationally, which is why the bill and rate ranks can differ.
Largest utilities in New Mexico
Average effective rates and bills for New Mexico's largest utilities, from EIA Form 861-M (May 2026). Or find yours by ZIP code.
| Utility | Rate (¢/kWh) | Avg bill ($/mo) | Avg usage (kWh/mo) | Residential customers |
|---|---|---|---|---|
| Public Service Co of NM | 15.95 | 75.06 | 471 | 499,985 |
| Southwestern Public Service Co | 10.60 | 86.70 | 818 | 101,751 |
| El Paso Electric Co | 7.83 | 61.19 | 782 | 98,583 |
Average bill = rate × average usage. Utilities with similar rates can show very different average bills because their customers' average usage differs (housing mix, heating fuel, climate).
Estimate a bill at New Mexico rates
Worked example: 1,000 kWh at New Mexico's average rate of 14.12¢/kWh is about $141.20. The state's actual average usage is 583 kWh/month, which is what produces the $82.27 average bill. These are average effective rates including all charges; your utility's tariff will differ.
Wondering what's behind rising rates nationally? See Why is my electric bill so high?, our data-led explainer on demand growth, data centers, and grid costs. Also: New Mexico gas prices and why they are what they are, and the cheapest way to heat a home by fuel and state.
Source: EIA retail sales data (residential sector, monthly), published with roughly a two-month lag. Rate = revenue ÷ sales; bill = revenue ÷ customers. We do not project unpublished months. See methodology.