New Mexico electricity rates (August 2026)

Average residential and commercial electricity prices in New Mexico from EIA's monthly utility survey, with the trend, the largest utilities and what power costs a typical homeowner.

Residential rate

16.51¢

▲ 3.3% vs a year agoper kWh, August 2026; ranks 25 of 51 (1 = highest)

Commercial rate

12.14¢

per kWh, August 2026

Average home bill

$100

per month over the last 12 months, about 653 kWh

U.S. residential average

18.16¢

New Mexico is 9% below the U.S. average.

Find your utility's rate by ZIP

New Mexico vs U.S. residential rate

Cents per kWh by month, last 36 months.

Last 12 months in New Mexico

Month	Residential	Commercial	U.S. residential	Avg kWh	Avg bill
August 2026	16.51¢	12.14¢	18.16¢	983	$162
July 2026	16.09¢	11.90¢	18.31¢	942	$152
June 2026	15.06¢	10.82¢	18.34¢	805	$121
May 2026	14.12¢	10.18¢	18.44¢	583	$82
April 2026	15.15¢	11.08¢	18.86¢	486	$74
March 2026	14.81¢	9.76¢	18.60¢	507	$75
February 2026	15.07¢	10.46¢	17.65¢	548	$83
January 2026	14.70¢	10.75¢	17.45¢	673	$99
December 2025	14.47¢	10.57¢	17.11¢	608	$88
November 2025	15.38¢	10.65¢	17.77¢	495	$76
October 2025	14.72¢	10.15¢	17.95¢	551	$81
September 2025	16.26¢	12.08¢	18.05¢	656	$107

Largest utilities in New Mexico

Residential rates for the biggest utilities in New Mexico that report monthly to EIA, ordered by number of homes served, for August 2026.

Utility	Type	Rate	Avg kWh	Avg bill	Homes
Public Service Co of NM	Investor Owned	18.83¢	843	$159	501,037
Southwestern Public Service Co	Investor Owned	13.02¢	1,405	$183	102,020
El Paso Electric Co	Investor Owned	12.48¢	1,196	$149	98,892
City of Farmington - (NM)	Municipal	12.31¢	930	$114	36,590
Navajo Tribal Utility Authority	State	19.11¢	621	$119	9,815
Los Alamos County	Municipal	16.39¢	906	$148	8,441
Central Valley Elec Coop, Inc	Cooperative	9.17¢	1,484	$136	6,206
Roosevelt County Elec Coop Inc	Cooperative	14.19¢	1,252	$178	3,911

What electricity adds to owning a home in New Mexico

A typical New Mexico home is valued at $315,812 (Zillow). With 10% down at this week's 7.24% 30-year rate, principal and interest come to about $1,937 a month. The average electric bill of $100 adds about 5% on top of that, or $1,200 a year. See New Mexico property tax and closing costs or run the monthly payment.

Bills follow the seasons: in New Mexico the highest-use month of the last year averaged 983 kWh per home and the lowest 486 kWh. Budget for the expensive months, not the average.

Common questions

What is the average electricity rate in New Mexico?

Homes in New Mexico paid an average of 16.51 cents per kWh in August 2026, 9% below the U.S. average of 18.16 cents (EIA Form 861M).

How much is the average electric bill in New Mexico?

Over the last 12 months the average New Mexico home used about 653 kWh a month and paid about $100 a month.

Have New Mexico electricity rates gone up?

The residential rate is 3.3% higher than in August 2025, when it was 15.98 cents per kWh.

What do businesses pay for electricity in New Mexico?

Commercial customers in New Mexico paid 12.14 cents per kWh in August 2026.

Electricity rates in all statesRanked table and ZIP lookup New Mexico buying costsProperty tax, transfer tax and closing costs New Mexico buyer programsDown payment help where you live

Sources: U.S. Energy Information Administration (EIA), Form EIA-861M monthly sales and revenue (state and utility data, latest month August 2026; EIA marks recent months preliminary and may revise them); ZIP-to-utility map: OpenEI, U.S. Electric Utility Companies and Rates: Look-up by Zip Code (2024), CC BY 4.0. Rates are average revenue per kWh (total bill divided by kWh sold), so they include fixed and delivery charges. EIA posts each month about eight weeks after it ends; this page checks for new data every morning.