New Mexico Electricity Rates and Average Bill
Data through July 2026 (the latest month EIA has published) · Updated October 14, 2026
As of July 2026, the average residential electricity rate in New Mexico is 16.09¢/kWh (the 26th-highest in the U.S.) and the average monthly bill is $151.51, per EIA data. That rate is 2.2¢ below the U.S. average of 18.31¢/kWh.
Rate trend, last three years
View this chart as a table (last 12 months)
| Month | Rate (¢/kWh) | Avg bill ($/mo) | Avg usage (kWh/mo) |
|---|---|---|---|
| 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 | not reported |
| May 2026 | 14.12 | 82.27 | not reported |
| June 2026 | 15.06 | 121.22 | not reported |
| July 2026 | 16.09 | 151.51 | 942 |
New Mexico vs the U.S. average
| New Mexico | U.S. average | |
|---|---|---|
| Rate (July 2026) | 16.09¢/kWh | 18.31¢/kWh |
| Average monthly bill | $151.51 | $212.44 |
| Average monthly usage | 942 kWh | 1160 kWh |
| Rate change, 1 year | +1.8% | +4.9% |
| Rate change, 5 years | +11.8% | +32.4% |
New Mexico's average residential rate of 16.09¢/kWh for July 2026 ranks 26th of 51 (1 = lowest). Over the past year the rate moved +1.8% (New Mexico) versus +4.9% nationally; over five years, +11.8% versus +32.4% nationally. Average usage of 942 kWh/month compares with 1160 kWh nationally, which is why the bill and rate ranks can differ. For how New Mexico's recent increase ranks against every other state (12-month, 3-year and 5-year changes), see electricity rate increases by state.
Largest utilities in New Mexico
Average effective rates and bills for New Mexico's largest utilities, from EIA Form 861-M (July 2026). Or find yours by ZIP code.
| Utility | Rate (¢/kWh) | Avg bill ($/mo) | Avg usage (kWh/mo) | Residential customers |
|---|---|---|---|---|
| Public Service Co of NM | 19.16 | 152.97 | 798 | 500,639 |
| Southwestern Public Service Co | 11.08 | 154.29 | 1,392 | 101,957 |
| El Paso Electric Co | 11.16 | 135.77 | 1,217 | 98,819 |
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 16.09¢/kWh is about $160.90. The state's actual average usage is 942 kWh/month, which is what produces the $151.51 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.