Electricity rates in New Mexico

Updated with EIA data for August 2026

Average rate

16.51¢

August 2026

12-month average

16.51¢

US: 18.16¢

Average bill

$162

983 kWh / month

National rank

#25

1 = most expensive of 51

In August 2026, the average residential electricity rate in New Mexico was 16.51¢ per kilowatt-hour (kWh), 9% lower than the US average of 18.16¢. That makes New Mexico the 25th most expensive of the 50 states and DC. Prices rose 3.3% from August 2025 (15.98¢).

New Mexico electricity rates over time

New Mexico, cents per kWh US average

Average rate, bill and usage by year

Year	Avg rate	Avg monthly bill	Avg monthly use
2026 (4 mo)	15.75¢	$124	787 kWh
2025	14.85¢	$95	638 kWh
2024	14.20¢	$93	654 kWh
2023	13.85¢	$91	659 kWh
2022	13.84¢	$91	659 kWh
2021	13.52¢	$87	646 kWh
2020	12.94¢	$87	670 kWh
2019	12.51¢	$80	640 kWh
2018	12.68¢	$81	639 kWh
2017	12.88¢	$79	615 kWh

Rates are weighted by kWh sold. Bills and usage are averages per residential customer.

Rates by sector (August 2026)

Sector	Rate	A year earlier
Residential	16.51¢	15.98¢
Commercial	12.14¢	12.02¢
Industrial	5.08¢	6.37¢
Transportation	0.00¢	0.00¢
All sectors	10.08¢	10.66¢

How much does electricity cost in New Mexico?

At New Mexico's 12-month average residential rate of 16.51¢ per kWh, here is the energy cost for common monthly usage levels, next to the US average. Fixed customer charges, taxes and fees vary by utility and are not included.

Monthly use	New Mexico	US average
250 kWh	$41.28	$45.40
500 kWh	$82.55	$90.80
750 kWh	$123.83	$136.20
1,000 kWh	$165.10	$181.60
1,500 kWh	$247.65	$272.40
2,000 kWh	$330.20	$363.20

New Mexico electricity prices month by month

Over the last 12 months, the average residential rate ranged from 14.12¢ (May 2026) to 16.51¢ (August 2026), and homes used the most electricity in August 2026 (983 kWh on average).

Month	Avg rate	Avg bill	Avg use
August 2026	16.51¢	$162	983 kWh
July 2026	16.09¢	$152	942 kWh
June 2026	15.06¢	$121	— kWh
May 2026	14.12¢	$82	— kWh
April 2026	15.15¢	$74	— kWh
March 2026	14.81¢	$75	— kWh
February 2026	15.07¢	$83	548 kWh
January 2026	14.70¢	$99	673 kWh
December 2025	14.47¢	$88	608 kWh
November 2025	15.38¢	$76	495 kWh
October 2025	14.72¢	$81	551 kWh
September 2025	16.26¢	$107	656 kWh

New Mexico vs neighboring states

New Mexico's 12-month average rate is higher than 4 of its 5 neighbors.

State	12-mo avg rate	Avg monthly bill	Rank
New Mexico	16.51¢	$162	#23
Arizona	15.39¢	$162	#31
Colorado	17.17¢	$167	#20
Oklahoma	13.81¢	$149	#43
Texas	15.98¢	$178	#26
Utah	13.26¢	$104	#47

What appliances cost to run in New Mexico

Appliance	Typical wattage	Cost per hour
Space heater	750–1,500 W	$0.12–$0.25
Refrigerator	725 W	$0.12
Clothes dryer	1,800–5,000 W	$0.30–$0.83
Washing machine	350–500 W	$0.06–$0.08
Dishwasher	1,200–2,400 W	$0.20–$0.40
Electric water heater	4,500–5,500 W	$0.74–$0.91
Microwave	750–1,100 W	$0.12–$0.18
Window fan	55–250 W	$0.01–$0.04

All appliance costs · Appliance cost calculator for New Mexico

Can you choose your electricity provider in New Mexico?

In New Mexico, most households buy electricity from their local utility at regulated rates, so shopping for a different supplier is usually not an option. The best ways to lower your bill are to reduce usage and check whether your utility offers time-of-use or other rate plans.

Solar snapshot

Each kW of solar panels in Albuquerque produces about 1,779 kWh a year (NREL PVWatts). Sized for an average New Mexico home, a 6.8 kW system would cost about $17,476 before any incentives and pay for itself in about 9.0 years. See the full New Mexico solar estimate.

Guides for New Mexico

Electric Bills

Why Electricity Prices Differ So Much by State

Electricity costs several times more per kWh in some states than others. EIA data shows how fuel mix, grid costs, regulation and climate drive the gap.

Nov 8, 2026 · 5 min read

Saving Energy

How to Lower Your Electric Bill: 12 Practical, Sourced Ways

Practical ways to lower your electric bill, from free thermostat and standby-power fixes to LEDs, insulation and rate plans, each backed by DOE, EPA or EIA guidance.

Nov 9, 2026 · 5 min read

Solar

Is Solar Worth It in 2026? What Changed After the Federal Tax Credit Ended

The 25D federal credit ended for systems installed after 2025. Here is what now decides whether solar pays off, and how to estimate your own payback.

Nov 9, 2026 · 6 min read

New Mexico electricity calculators

Frequently asked questions

What is the average electricity rate in New Mexico?

The average residential electricity rate in New Mexico was 16.51¢ per kWh in August 2026. Over the past 12 months it averaged 16.51¢ per kWh.

What is the average electric bill in New Mexico?

The average residential customer in New Mexico paid $162 for 983 kWh in August 2026, based on EIA revenue, sales and customer counts.

Is electricity in New Mexico more expensive than the national average?

In August 2026, New Mexico's average rate of 16.51¢ was 9% lower than the US average of 18.16¢.

Can I choose my electricity provider in New Mexico?

Generally no. Most New Mexico households buy electricity from their local utility at regulated rates.

Source: U.S. Energy Information Administration (EIA), Form EIA-861M monthly sales and revenue data. Latest month: August 2026. Recent months may be preliminary and revised by EIA. See how we calculate.