Electricity rates in New Mexico: 15.32¢ per kWh
Homes in New Mexico paid an average of 15.32¢ per kilowatt-hour from August 2025 to July 2026, 15% below the U.S. average of 17.99¢. That is the 21st-lowest of 51, between Florida (15.39¢) and Georgia (15.12¢).
The average New Mexico home used 648 kWh a month — the 12th-least of the 51 — so its typical bill came to $99 a month, the lowest. At the national rate the same 648 kWh would cost $17 more a month.
In July 2026, the latest month published, the New Mexico rate was 16.09¢.
| Rank | State | Average rate | Latest month | Average home use | Average bill |
|---|---|---|---|---|---|
| 29 | Arizona | 15.40¢ | 15.38¢ | 1,051 kWh/mo | $162/mo |
| 30 | Florida | 15.39¢ | 15.03¢ | 1,099 kWh/mo | $169/mo |
| 31 | New Mexico | 15.32¢ | 16.09¢ | 648 kWh/mo | $99/mo |
| 32 | Georgia | 15.12¢ | 16.27¢ | 1,069 kWh/mo | $162/mo |
| 33 | Kansas | 15.09¢ | 15.27¢ | 875 kWh/mo | $132/mo |
What a month of electricity costs in New Mexico
At 15.32¢ per kWh, every extra 100 kWh a month adds $15.32 to the monthly bill and $184 to the year. The table runs from half to twice the New Mexico average home's 648 kWh, using the same calculation as the calculator above.
| Monthly use | Per month | Per year | vs. U.S. rate (17.99¢) |
|---|---|---|---|
| 300 kWh (half the average) | $46 | $552 | −$8 |
| 648 kWh (state average) | $99 | $1,191 | −$17 |
| 950 kWh (1.5× the average) | $146 | $1,746 | −$25 |
| 1,300 kWh (twice the average) | $199 | $2,390 | −$35 |
New Mexico electricity through the year
The average New Mexico home's bill peaked at about $152 in July 2026 and was lowest, about $74, in April 2026. Use ran from 486 kWh in April 2026 to 942 kWh in July 2026, 1.9 times as much.
The rate moved too, from 14.12¢ in May 2026 to 16.52¢ in September 2025. A monthly rate includes that month's fuel and seasonal charges, which is why the calculator uses the 12-month average for a yearly estimate.
| Month | Rate | Use per home | Bill per home |
|---|---|---|---|
| Aug 2025 | 16.19¢ | 871 kWh | $141 |
| Sep 2025 | 16.52¢ | 673 kWh | $111 |
| Oct 2025 | 14.95¢ | 565 kWh | $84 |
| Nov 2025 | 15.61¢ | 507 kWh | $79 |
| Dec 2025 | 14.66¢ | 624 kWh | $91 |
| Jan 2026 | 14.70¢ | 673 kWh | $99 |
| Feb 2026 | 15.07¢ | 548 kWh | $83 |
| Mar 2026 | 14.81¢ | 506 kWh | $75 |
| Apr 2026 | 15.15¢ | 486 kWh | $74 |
| May 2026 | 14.12¢ | 583 kWh | $82 |
| Jun 2026 | 15.06¢ | 805 kWh | $121 |
| Jul 2026 | 16.09¢ | 942 kWh | $152 |
Largest electricity providers in New Mexico
Among the 10 largest providers listed, average residential rates in 2024 ran from 10.16¢ at El Paso Electric Co to 18.18¢ at Kit Carson Electric Coop, Inc. On the average New Mexico home's 648 kWh that is a difference of $52 a month.
These are 2024 figures, the latest final year. The New Mexico average was 14.20¢ that year and 15.32¢ over the last 12 months, up 8% — compare the providers with each other, not with today's average.
Together they serve 90% of New Mexico's 936,098 residential customers. The rates are each company's residential revenue divided by kilowatt-hours sold, so customer charges are included; a plan or tier can still differ.
| Provider | Type | Homes served | Average rate | Use per home |
|---|---|---|---|---|
| Public Service Co of NM | Investor-owned | 492,945 | 15.57¢ | 574 kWh/mo |
| Southwestern Public Service Co | Investor-owned | 100,540 | 11.98¢ | 996 kWh/mo |
| El Paso Electric Co | Investor-owned | 94,760 | 10.16¢ | 740 kWh/mo |
| City of Farmington | Municipal | 35,990 | 12.69¢ | 652 kWh/mo |
| Jemez Mountains Elec Coop, Inc | Cooperative | 28,093 | 15.36¢ | 581 kWh/mo |
| Kit Carson Electric Coop, Inc | Cooperative | 26,097 | 18.18¢ | 492 kWh/mo |
| Continental Divide El Coop Inc | Cooperative | 20,415 | 16.02¢ | 611 kWh/mo |
| Central New Mexico El Coop, Inc | Cooperative | 19,126 | 17.16¢ | 585 kWh/mo |
| Otero County Electric Coop Inc | Cooperative | 16,448 | 17.65¢ | 574 kWh/mo |
| Farmers Electric Coop, Inc | Cooperative | 10,258 | 12.87¢ | 834 kWh/mo |