State electricity profile · EIA monthly through May 2026
New Mexico Electricity
As of May 2026, residential electricity in New Mexico costs 14.12¢ per kWh (-2.6% vs May 2025). EIA publishes these figures monthly and this page follows them. New Mexico's 2025 annual residential electricity rate is 15.08¢/kWh, 12.8% below the US average. That is a below-average rate alongside 53% renewable generation, the combination the national debate usually treats as a trade-off. The sector and fuel detail below shows how it is built.
- 14.12¢
- May 2026 rate
- -2.6%
- year over year
- 15.08¢/kWh
- Residential rate
- -12.8%
- vs US average
- 53%
- Renewable
- 925.8K
- Customers
Verify with EIA → · Methodology
15.08¢/kWh residential, 11.23¢/kWh commercial
In the U.S. Energy Information Administration's 2025 annual-frequency retail-sales series, New Mexico's residential average revenue per kWh is 15.08¢/kWh, with a commercial average of 11.23¢/kWh and an industrial average of 5.90¢/kWh; a separate EIA generation series for 2025 reports 53% of the state's generation from renewables.
- 12.8% below the US average vs national residential average
- 53% renewable generation
The verdict · 2025
New Mexico's residential electricity runs 15.08¢/kWh - 12.8% below the 17.30¢/kWh national average, cheaper than 58% of other states, with 53% of its power from renewables.
This is EIA state average revenue per kWh across 925.8K reported residential customers, a benchmark for comparing states, not the tariff on any single bill. Source: EIA retail-sales API, annual frequency.
Annual rate change
What changed in the 2025 annual EIA period
- New Mexico's industrial average rose from 5.43¢/kWh to 5.90¢/kWh between the 2024 and 2025 annual-frequency EIA retail-sales periods, a change of +8.7%.
- New Mexico's commercial average rose from 10.54¢/kWh to 11.23¢/kWh between the 2024 and 2025 annual-frequency EIA retail-sales periods, a change of +6.5%.
- New Mexico's residential average rose from 14.20¢/kWh to 15.08¢/kWh between the 2024 and 2025 annual-frequency EIA retail-sales periods, a change of +6.2%.
Energy Generation Mix (2025)
How New Mexico generates its electricity, from the EIA generation series for 2025 (separate from the 2025 retail-sales price figures above). Renewable sources account for 53.4% of generation.
- Windrenewable35.4%
- Natural Gas26.2%
- Coal20.4%
- Solarrenewable17.3%
- Hydrorenewable0.5%
- Geothermalrenewable0.1%
Who generates New Mexico's electricity
New Mexico has 230 operable generating units on EIA's inventory totalling 17,227 MW of net summer capacity. The largest single plant is SunZia Wind South , a onshore wind turbine station operated by Pattern Operators LP , rated 2,561 MW.
Balancing authorities keep supply and demand matched on the grid; the largest here by capacity are Public Service Company of New Mexico, California Independent System Operator and Southwest Power Pool.
Showing the 16 largest of 167 operable plants in New Mexico by net summer capacity.
| Plant | Operator | Technology | County | MW |
|---|---|---|---|---|
| SunZia Wind South | Pattern Operators LP | Onshore Wind Turbine | – | 2,561 |
| Four Corners | Arizona Public Service Co | Conventional Steam Coal | – | 1,540 |
| SunZia Wind North | Pattern Operators LP | Onshore Wind Turbine | – | 1,089 |
| Hobbs Generating Station | Lea Power Partners LLC | Natural Gas Fired Combined Cycle | – | 578 |
| Luna Energy Facility | Public Service Co of NM | Natural Gas Fired Combined Cycle | – | 559 |
| Sagamore Wind | Southwestern Public Service Co | Onshore Wind Turbine | – | 522 |
| Arroyo Solar Energy Storage Hybrid | Arroyo Solar LLC | Solar Photovoltaic | – | 450 |
| Cunningham | Southwestern Public Service Co | Natural Gas Steam Turbine | – | 390 |
| Red Cloud Wind LLC | Pattern Operators LP | Onshore Wind Turbine | – | 350 |
| Clines Corners Wind Farm LLC | Pattern Operators LP | Onshore Wind Turbine | – | 325 |
| La Joya NM | Avangrid Power LLC | Onshore Wind Turbine | – | 306 |
| Atrisco Energy Storage | Atrisco Energy Storage LLC | Batteries | – | 300 |
| Atrisco Solar LLC | Atrisco Solar LLC | Solar Photovoltaic | – | 300 |
| San Juan Solar I | San Juan Solar I, LLC | Solar Photovoltaic | – | 300 |
| El Cabo Wind | Avangrid Power LLC | Onshore Wind Turbine | – | 298 |
| Tecolote Wind LLC | Pattern Operators LP | Onshore Wind Turbine | – | 272 |
| Operating company | Plants | Net summer MW |
|---|---|---|
| Pattern Operators LP | 9 | 5,247 |
| Arizona Public Service Co | 1 | 1,540 |
| Southwestern Public Service Co | 5 | 1,225 |
| Public Service Co of NM | 7 | 1,208 |
| Avangrid Power LLC | 2 | 604 |
| Lea Power Partners LLC | 1 | 578 |
| Arroyo Solar LLC | 1 | 450 |
| Exus New Mexico | 10 | 388 |
| Leeward Asset Management, LLC | 2 | 335 |
| Atrisco Energy Storage LLC | 1 | 300 |
Operable units only, from EIA's generator inventory as reported for 2026-05. Capacity is net summer rating, which is what a unit can reliably deliver in peak conditions rather than its nameplate figure. Ownership and operatorship can differ; the company shown is the one EIA records as operating the unit.
What New Mexico's Electricity Data Tells Us
Residential customers in New Mexico pay 15.08¢/kWh in 2025, across 925.8K metered households, placing the state 12.8% below the national residential average of 17.30¢/kWh. Commercial rates sit at 11.23¢/kWh while industrial buyers pay 5.90¢/kWh. These sector averages describe recorded revenue per kWh; this dataset alone does not establish why they differ. Annual residential sales total 7.2M MWh on roughly $1.1B in utility revenue. Sales and revenue are reported retail-series measures and should not be treated as a local load forecast.
Industry pays comparatively more here than households do: New Mexico ranks 51 of 51 on industrial power against 30 on residential, one of only a handful of states where the industrial ranking sits that far above the residential one. No single fuel reaches half of New Mexico's in-state generation. Wind leads at 35.4%, with natural gas at 26.2% close enough behind that the mix reads as a balance rather than a clear lead. It is the leading fuel in 5 states. Renewable fuels (solar, wind, hydro, geothermal and biomass) account for 53.4% of New Mexico's electricity output. These shares describe in-state generation, not a utility-specific customer bill.
Looking back across EIA records, residential prices in New Mexico moved from 12.03¢/kWh in 2016 to 15.08¢/kWh in 2025, a 25.4% shift over that window. States charging a similar rate include South Carolina, Florida, Virginia, a useful peer set for a sanity check. Wind has no fuel bill, so New Mexico's costs sit in transmission and in what fills the hours when the wind is down. That inverts the usual reading: the rate above is less about commodity prices than about how much back-up capacity the state keeps standing. A state average sitting modestly under the national one is the easiest kind to misread, because the spread between utilities inside New Mexico can be wider than the gap to the national figure it is being compared against.
-12.8%
Cheaper vs the US residential average
58%
of states have higher rates — Mid-range cost
53%
Significant renewable — above the 25% US mix
925.8K
residential customers served
Residential Price History
New Mexico residential average revenue per kWh moved from 12.03¢/kWh in 2016 to 15.08¢/kWh in 2025 (25.4% over the window).
- New Mexico residential avg
- 15.08¢/kWh 25.4% since 2016
- 2016 → 2025
- New Mexico residential: 2016, 12¢
- New Mexico residential: 2017, 12.9¢
- New Mexico residential: 2018, 12.7¢
- New Mexico residential: 2019, 12.5¢
- New Mexico residential: 2020, 12.9¢
- New Mexico residential: 2021, 13.5¢
- New Mexico residential: 2022, 13.8¢
- New Mexico residential: 2023, 13.9¢
- New Mexico residential: 2024, 14.2¢
- New Mexico residential: 2025, 15.1¢
Source: U.S. Energy Information Administration, retail-sales API · annual frequency. New Mexico full trend →
New Mexico Average Price by Sector and Year (¢/kWh)
The chart above tracks households only. In 2025, New Mexico households paid 15.08¢/kWh while businesses paid 11.23¢/kWh, a 34.3% residential premium, a wider household-versus-business gap than most states. Every year EIA has published is below, so a single year can be read across all three sectors rather than assembled from three separate EIA queries.
| Year | Residential | Commercial | Industrial |
|---|---|---|---|
| 2025 | 15.08¢/kWh | 11.23¢/kWh | 5.90¢/kWh |
| 2024 | 14.20¢/kWh | 10.54¢/kWh | 5.43¢/kWh |
| 2023 | 13.85¢/kWh | 10.68¢/kWh | 5.75¢/kWh |
| 2022 | 13.84¢/kWh | 11.07¢/kWh | 6.56¢/kWh |
| 2021 | 13.52¢/kWh | 10.80¢/kWh | 6.16¢/kWh |
| 2020 | 12.94¢/kWh | 10.28¢/kWh | 5.58¢/kWh |
| 2019 | 12.51¢/kWh | 9.79¢/kWh | 5.48¢/kWh |
| 2018 | 12.68¢/kWh | 10.02¢/kWh | 5.84¢/kWh |
| 2017 | 12.88¢/kWh | 10.19¢/kWh | 6.15¢/kWh |
| 2016 | 12.03¢/kWh | 9.75¢/kWh | 5.84¢/kWh |
Average revenue per kilowatt-hour, U.S. Energy Information Administration annual-frequency retail-sales series. Revenue per kWh is what customers in each sector actually paid on average, not an advertised tariff rate. Years with no EIA figure for a sector show —.
Where New Mexico's residential rate sits nationally
2025 average revenue per kWh across every reporting state
15.08¢/kWh Top 44% most affordable More affordable than 58% of 50 other states
all reporting states, equal-width bands
Each bar spans 5¢/kWh. Taller bars contain more states; the dashed marker locates this state. Hover, focus or tap a bar for its exact count and share.
Source U.S. Energy Information Administration, retail-sales API · 2025 annual frequency
How New Mexico compares
Average revenue per kWh, EIA retail-sales API. Pick a benchmark above to compare New Mexico against the US average or a peer state.
Market Overview
Residential Revenue
$1.1B
Commercial Revenue
$1.0B
Residential Sales
7.2M MWh
Residential Customers
925.8K
Using New Mexico's numbers
Renewables already carry a large share of generation here, so the marginal question in New Mexico has shifted from building supply to firming it. Storage and interconnection are what the next rate moves turn on.
- New Mexico sits 12.8% below the national average, see exactly where it lands among all 50 states. See the rankings
- Check the multi-year trend before you judge the rate, a low price rising fast can cost more over a decade than a steady one. New Mexico price trend
- Compare New Mexico side by side with the US average and peer states using the tool above, then estimate your own bill from your monthly kWh. Cost calculator
Figures are EIA state averages by sector, computed as revenue divided by sales, so delivery and taxes are inside them but not broken out. Your actual rate depends on your utility, plan, and usage, see our disclaimer.
States with Similar Electricity Prices
Other states led by wind
These grids also report wind as their largest generation share in the latest EIA mix — a different peer set from the price neighbors above.
Frequently Asked Questions
How much does electricity cost in New Mexico? ▼
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How much of New Mexico's electricity is renewable? ▼
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Read with New Mexico: cheapest states for electricity
Where New Mexico's figures come from
Every price and generation figure on this page is drawn from the EIA series below, and from nothing else.
- 📊 EIA State Energy Profile, New Mexico State energy database
- ⚡ EIA Electric Power Monthly The monthly and annual price series behind every rate here
- 🌿 EIA generation by source The in-state generation shares quoted above
- 📖 Our methodology Source-to-figure lineage, and further federal energy references
Utilities serving New Mexico
The 24 utilities that reported bundled residential service in New Mexico to EIA Form 861 (2024), largest first. Entity prices below are Form 861 averages for that release, not the same survey as the 2025 retail-sales statewide average above, and not a household tariff. What an individual household pays depends on which of these serves its address.
| Utility | Ownership | Customers | Avg ¢/kWh |
|---|---|---|---|
| Public Service Co of NM | Investor Owned | 492.9K | 15.57¢ |
| Southwestern Public Service Co | Investor Owned | 100.5K | 11.98¢ |
| El Paso Electric Co | Investor Owned | 94.8K | 10.16¢ |
| City of Farmington - (NM) | Municipal | 36.0K | 12.69¢ |
| Jemez Mountains Elec Coop, Inc | Cooperative | 28.1K | 15.36¢ |
| Kit Carson Electric Coop, Inc | Cooperative | 26.1K | 18.18¢ |
| Continental Divide El Coop Inc | Cooperative | 20.4K | 16.02¢ |
| Central New Mexico El Coop, Inc | Cooperative | 19.1K | 17.16¢ |
| Otero County Electric Coop Inc | Cooperative | 16.4K | 17.65¢ |
| Farmers Electric Coop, Inc - (NM) | Cooperative | 10.3K | 12.87¢ |
| Navajo Tribal Utility Authority | State | 9.8K | 16.53¢ |
| Los Alamos County | Municipal | 7.7K | 14.15¢ |
| Lea County Electric Coop, Inc - (NM) | Cooperative | 7.2K | 10.07¢ |
| Central Valley Elec Coop, Inc | Cooperative | 6.2K | 8.91¢ |
| Roosevelt County Elec Coop Inc | Cooperative | 3.9K | 12.07¢ |
Showing the 15 largest of 24 reporting utilities. The 2 serving 100.0K+ residential customers link to a full profile. Presence in EIA Form 861 is not evidence that a utility is available at a given address or that a customer may choose it.
Related
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the U.S. Energy Information Administration (EIA). Consult a qualified professional before making decisions based on this data.
Every figure on RateWatt is rendered directly from official U.S. Energy Information Administration (EIA) data, no number is typed in by an editor. Statewide prices use the EIA retail-sales annual series (2025). Generation mix uses a separate EIA generation series (2025). Utility rows use Form EIA-861 (2024) and are not averaged into the statewide retail-sales figure. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of 2025.