New Mexico Electricity Rates & Average Electricity Bills

Electricity Rates in New Mexico

Electricity Rates, Plans & Statistics

Can You Save With Wind?

You’ve heard of solar, but did you know that you can power your home and business with wind?

Electricity Companies & Statistics in New Mexico

  • Population
    see rank
    2,113,344
  • Total Production
    see rank
    38,775,122 MWh / 18.35 MWh per capita
  • Total Consumption
    see rank
    29,093,904 MWh / 13.77 MWh per capita
  • Total Production from Renewable
    see rank
    17,667,996 MWh / 8.36 MWh per capita
  • CO2 Emissions from Consumption
    see rank
    10,290,418,481 kg / 4,869.26 kg per capita
  • Total Production from Non-Renewable
    see rank
    21,134,201 MWh / 10 MWh per capita
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Average Residential Electricity Bills & Rates in New Mexico

New Mexico residential electric rates are highest in September and the highest average bill is in July.

Historical Electricity Rates:

Price Per kWhAverage Bill$0.153/kWh$0.119/kWh$142.90/mo.$57.55/mo.
23rd14.30¢Average residential price per kWh in the state of New Mexico
2nd$95.09Average residential monthly electricity bill for New Mexico Residents

New Mexico Electricity Fuel Mix

MonthlyWe report production data as it is published. Due to reporting methods and timing, data from 2023 and 2022 may be incomplete. Data is released in full each fall for the previous calendar year. For clarification on any data points, please contact our team.
AnnualAnnual data for 2022 will be finalized in the fall of 2023. Until that time, some data may be incomplete. Data for 2023 is a summation of all information released to date, which may only represent a portion of the actual production that has occurred. For clarification on any data points, please contact our team.

New Mexico's Electricity Prices and Usage

Citizens in New Mexico enjoy a lower residential electricity rate than many people around the country, with an average state electric rate of 14.30 cents per kilowatt hour compared to the US average rate of 16.12 cents. The state has over 30 electric providers, but citizens are usually left with only a couple supplier options due to the fact that New Mexico has a regulated electricity market. With 549,567 residential customers, Public Service Company of New Mexico is the largest supplier in the state. Consumers in the state have an average monthly residential electricity bill of $95.09 per month. The US average monthly bill is $138.02. The state is the 15th highest generator of electricity per capita, with an average of 18.35 megawatt hours produced per person per year. The state has seen a 51.65% increase in the amount of electricity produced from the use of solar power during the past 12 months.

Residential Electricity Providers in New Mexico

ProviderService TypeResidential Rate (¢)Residential Average Bill ($)Residential Sales (MWh)Residential Revenues ($)State Production (MWh)
Public Service Company of New MexicoBUNDLED15.2587.253,364,691513,030,0006,376,673.05
Southwestern Public Service CompanyBUNDLED11.82117.711,194,847.53141,284,9344,171,136
El Paso Electric CompanyBUNDLED10.0773.76826,05283,203,0001,233,523.9
Farmington ElectricBUNDLED12.5977.62270,164.234,015,583634,887.03
Jemez Mountains Electric CooperativeBUNDLED13.8680.66183,668.725,456,356.52
Kit Carson Electric CooperativeBUNDLED16.3086.62153,573.3525,038,198.22
Continental Divide Electric CooperativeBUNDLED14.8690.53141,352.4421,002,258.21
Central New Mexico Electric CoopBUNDLED16.99107.16120,066.5620,403,766.08
Otero County Electrictric CooperativeBUNDLED18.59112.39111,557.5720,736,720.32
Farmers Electric Clovis, New MexicoBUNDLED13.89121.92100,110.8113,907,620.5
30 providers total

Commercial Electricity Providers in New Mexico

ProviderService TypeCommercial Rate (¢)Commercial Average Bill ($)Commercial Sales (MWh)Commercial Revenues ($)State Production (MWh)
Public Service Company of New MexicoBUNDLED12.25665.473,871,343474,285,0006,376,673.05
Southwestern Public Service CompanyBUNDLED8.25666.862,611,759.02215,425,3234,171,136
El Paso Electric CompanyBUNDLED8.47495.56880,78874,599,0001,233,523.9
Farmington ElectricBUNDLED10.70346.35365,142.5539,077,404634,887.03
Lea County ElectricBUNDLED7.82552.93323,562.3425,296,999.48
Jemez Mountains Electric CooperativeBUNDLED12.66453.3144,510.0918,291,144.14
City of Gallup UtilitiesBUNDLED12.76778.39133,854.6617,086,331.16
Kit Carson Electric CooperativeBUNDLED13.56307.88119,355.616,182,573.43
Continental Divide Electric CooperativeBUNDLED11.88384.98110,112.7513,079,377.34
Farmers Electric Clovis, New MexicoBUNDLED13.08635.46101,803.3113,312,948.1
30 providers total

Power Plants in New Mexico

PlantCity/CountyPrimary Fuel TypeProduction (MWh)Emission (KG)Emissions/MWh (KG/MWh)Toxic Chemical ReleaseClosing Date
Four CornersArizona Public Service (63.00%)Public Service Company of New Mexico (13.00%)Salt River Project (10.00%)Tucson Electric Power (7.00%)4C Acquisition, LLC (3.49%)El Paso Electric Company (3.51%)
San Juan County Coal 7,902,458.017,652,572,190.15968.3812/2031
Hobbs Generating StationLea Power Partners LLC (100.00%)
Lea County Natural Gas 3,853,2311,490,338,455.76386.78
Luna Energy FacilityPublic Service Company of New Mexico (33.30%)Tucson Electric Power (33.30%)Samchully Power & Utilities 1 LLC (33.40%)
Deming Natural Gas 3,669,6641,427,869,166.78389.1
Sagamore WindSouthwestern Public Service Company (100.00%)
Roosevelt County Wind 2,120,813
CunninghamSouthwestern Public Service Company (100.00%)
Lea County Natural Gas 1,371,858828,352,928.62603.82
Red Cloud Wind LLCPattern Operators LP (100.00%)
Torrance County Wind 1,200,756
Afton Generating StationPublic Service Company of New Mexico (100.00%)
Doña Ana County Natural Gas 1,160,278478,808,876.84412.67
El Cabo WindAvangrid (100.00%)
Encino Wind 1,082,014
Clines Corners Wind Farm LLCPattern Operators LP (100.00%)
Torrance County Wind 1,028,865
La Joya NMAvangrid (100.00%)
Torrance County Wind 1,020,564
49 power plants total

Quick Facts

New Mexico has experienced a 12.60% drop in the use of non-renewable fuels for electricity generation over the past year.

As the 28th highest state for non-renewable production per capita, New Mexico produces 10 megawatt hours per person each year.

New Mexico generates 7,830,550.82 megawatt hours from coal a year. That is 3.71 megawatt hours per person in the state and makes New Mexico the 15th highest ranked state for electricity generation from coal per capita.

Over 45.57% of New Mexico's electricity generation comes from renewable fuel sources, ranking New Mexico at 14th in the nation for total sustainable electricity generation.

New Mexico generates the 15th highest average of electricity per capita from natural gas, with the fuel source accounting for 3.71 megawatt hours a year per person.

New Mexico is 28th in the US in megawatt hours generated from coal usage.

CountyPopulationProvidersPlantsResidential Rate (¢)Residential Avg. Electric Bill
Bernalillo County672,5086315.28$90.22/mo
Catron County3,5813116.55$81.98/mo
Chaves County65,0147413.00$114.64/mo
Cibola County27,2842114.93$90.19/mo
Colfax County12,406521.32$119.87/mo
Curry County48,7163312.86$119.82/mo
De Baca County1,8732114.54$118.84/mo
Doña Ana County223,3374410.97$77.75/mo
Eddy County61,096511.75$114.02/mo
Grant County28,1787215.86$103.18/mo
Guadalupe County4,4653115.60$112.84/mo
Harding County533321.21$132.77/mo
Hidalgo County4,2146117.08$124.73/mo
Lea County72,4524511.79$123.38/mo
Lincoln County20,084717.83$109.52/mo
Los Alamos County19,1692113.06$79.86/mo
Luna County25,2828216.58$116.77/mo
McKinley County69,8304116.15$90.15/mo
Mora County4,232216.76$83.93/mo
Otero County68,8238117.44$110.09/mo
Quay County8,6754216.89$128.37/mo
Rio Arriba County40,3474215.86$84.03/mo
Roosevelt County19,2234212.19$120.54/mo
San Juan County120,4184216.30$87.13/mo
San Miguel County27,357415.92$98.72/mo
Sandoval County153,5016214.08$82.19/mo
Santa Fe County155,664715.77$94.84/mo
Sierra County11,512317.43$102.73/mo
Socorro County16,605316.31$91.01/mo
Taos County34,3221116.30$86.62/mo
Torrance County15,1502716.89$105.31/mo
Union County4,122223.99$138.61/mo
Valencia County78,0807115.65$88.41/mo

Power Plant Fuel Types, Emissions & Pollution Factors

There are 49 power producing plants in New Mexico, which is the 20th highest number of plants in a state in the country and equates to the 8th highest amount of plants per person. Over 37.38% of electricity in New Mexico comes from generation using Wind. Taken together with Natural Gas (34.29%) and Coal (20.19%), these three fuel sources account for 91.87% of the state's electricity generation. On average, New Mexico citizens emit 4,869.26 kilograms of CO2 emissions from electricity consumption, which is the 19th highest per resident emissions average for a state in the nation. At 4,869.26 kilograms per person and 2,113,344 people in the state, the state emits 10,290,418,480.69 kilograms of CO2 emissions. This is the 39th worst rank in the country for total emissions.

WIND
Wind
Wind
Wind
Wind
37.38%
NATURAL GAS
Natural Gas
Natural Gas
Natural Gas
Natural Gas
34.29%
COAL
Coal
Coal
Coal
20.19%
SOLAR
Solar
7.70%
CONVENTIONAL HYDROELECTRIC
Conventional Hydroelectric
0.33%
OTHER
Other
0.17%

New Mexico Net Metering

New Mexico has 22 out of 30 companies reporting that they offer net metering to residents with personal solar panels. New Mexico has decent regulations in place for consumers who are interested in taking advantage of net metering with personal solar panels.

Energy Loss

There are 14 providers in New Mexico that reported energy loss, including Public Service Company of New Mexico, Farmington Electric, and Jemez Mountains Electric Cooperative. Combined, these 14 electricity providers average a yearly energy loss of 9.22% of electricity produced. The countrywide average is 2.87%, resulting in New Mexico having a rank of 50th best in the United States for energy loss efficiency.

Solar Taxes And Rebates

When it comes to stimulating solar panel installs at private residences, tax and rebate incentives from the government are some of the easiest methods. New Mexico currently does not offer a state tax credit for solar panel installation at a private residence. There are currently no statewide rebates available to consumers who are purchasing solar panels. Fortunately, New Mexico offers a 100% tax exemption to homeowners. at their place of residence. The state offers a 100% sales tax exemption to homeowners who install solar panels. This is a win for those who live in the state.

State Level Initiatives

Statewide legislation plays a big part in determining whether customers who are seeking renewable energy sources can easily find alternatives. States that have Renewable Portfolio Standards (RPS) have requirements in place for electricity providers who operate in the state. These standards require that a percentage of electricity must be produced using renewable energy. The state of New Mexico requires electricity companies to generate at least 25% of their electricity from renewable fuels. Additionally, there are currently no low income solar programs to assist low income families to install solar panels.

Learn about going solar in New Mexico, find out which system size is best for you, compare local installers and see which incentives are available in your area.

FAQ: Common Questions About Electricity in New Mexico

Where does New Mexico get its electricity?

New Mexico's electricity is produced using mainly Wind, which makes up 37.38% of the fuel used in the state. In addition, Natural Gas makes up 34.29% and Coal makes up 20.19%.

What is the cheapest electricity company in New Mexico?

Residential Rate RankProviderResidential Rate (¢)State Customers
1Central Valley Elec Coop8.5414,950
2El Paso Electric Company10.07106,550
3Roosevelt County Electric Cooperative11.616,087
4Southwestern Public Service Company11.82127,119
5Lea County Electric11.9810,555
6Los Alamos Utilities12.268,651
7Farmington Electric12.5945,930
8Aztec Electrical13.832,949
9Jemez Mountains Electric Cooperative13.8629,673
10Farmers Electric Clovis, New Mexico13.8912,761

What power companies are in New Mexico?

Does New Mexico have a deregulated electricity market?

No, the state has a regulated market, where citizens' electricity supplier options are often determined by their location or state legislation.

What is the average electric bill in New Mexico?

The New Mexico average electricity bill is $95 so far in 2024, and the countrywide average is $138.

Which electricity company is the largest provider in New Mexico?

By total megawatt hours sold, Southwestern Public Service Company is the largest electricity supplier in New Mexico.

How many electric companies offer service in New Mexico?

New Mexico is home to 30 electricity companies offering service in the area.

How much does electricity cost in New Mexico?

Anything below the New Mexico average of 14.30 cents per kilowatt hour is a good electricity rate. The rates in the state range from 8.54 cents to 24.88 cents per kilowatt hour, with Central Valley Elec Coop currently having the lowest rates.

How many power plants are located in New Mexico?

There are 49 electricity plants located in New Mexico.

King Manalo
Last Reviewed By: King Manalo
Published: 2024-06-26