New Mexico Electricity Rates and Average Bill
Data through August 2026 (the latest month EIA has published) · Updated October 31, 2026
As of August 2026, the average residential electricity rate in New Mexico is 16.51¢/kWh (the 25th-highest in the U.S.) and the average monthly bill is $162.31, per EIA data. That rate is 1.6¢ below the U.S. average of 18.16¢/kWh.
Rate trend, last three years
View this chart as a table (last 12 months)
| Month | Rate (¢/kWh) | Avg bill ($/mo) | Avg usage (kWh/mo) |
|---|---|---|---|
| September 2025 | 16.26 | 106.70 | 656 |
| October 2025 | 14.72 | 81.14 | 551 |
| November 2025 | 15.38 | 76.10 | 495 |
| December 2025 | 14.47 | 88.05 | 608 |
| January 2026 | 14.70 | 98.87 | 673 |
| February 2026 | 15.07 | 82.61 | 548 |
| March 2026 | 14.81 | 75.13 | not reported |
| 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 |
| August 2026 | 16.51 | 162.31 | 983 |
New Mexico vs the U.S. average
| New Mexico | U.S. average | |
|---|---|---|
| Rate (August 2026) | 16.51¢/kWh | 18.16¢/kWh |
| Average monthly bill | $162.31 | $209.23 |
| Average monthly usage | 983 kWh | 1152 kWh |
| Rate change, 1 year | +3.3% | +3.4% |
| Rate change, 5 years | +14.5% | +30.5% |
New Mexico's average residential rate of 16.51¢/kWh for August 2026 ranks 27th of 51 (1 = lowest). Over the past year the rate moved +3.3% (New Mexico) versus +3.4% nationally; over five years, +14.5% versus +30.5% nationally. Average usage of 983 kWh/month compares with 1152 kWh nationally, which is why the bill and rate ranks can differ. For how New Mexico's recent increase ranks against every other state (12-month, 3-year and 5-year changes), see electricity rate increases by state.
Largest utilities in New Mexico
Average effective rates and bills for New Mexico's largest utilities, from EIA Form 861-M (August 2026). Or find yours by ZIP code.
| Utility | Rate (¢/kWh) | Avg bill ($/mo) | Avg usage (kWh/mo) | Residential customers |
|---|---|---|---|---|
| Public Service Co of NM | 18.83 | 158.80 | 843 | 501,037 |
| Southwestern Public Service Co | 13.02 | 182.97 | 1,405 | 102,020 |
| El Paso Electric Co | 12.48 | 149.27 | 1,196 | 98,892 |
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 16.51¢/kWh is about $165.10. The state's actual average usage is 983 kWh/month, which is what produces the $162.31 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.