Electricity Rates in New Mexico
Electricity rates in New Mexico have risen 9.2% over the past year, reaching an average of 16.0¢/kWh. The state is served by 20 utilities, with rates ranging from 9.0¢ to 27.0¢/kWh. Here's what you need to know about rates in your area.
New Mexico Electricity Rate History
Monthly residential electricity rates in New Mexico over the last 24 months, based on EIA data.
Top Cities in New Mexico
| City | Avg. Rate | Primary Utility | Providers |
|---|---|---|---|
| Albuquerque | 16.0¢/kWh | Public Service Co of NM | 4 |
| Las cruces | 11.0¢/kWh | El Paso Electric Co | 2 |
| Gallup | 16.0¢/kWh | Navajo Tribal Utility Authority | 2 |
| Cochiti pueblo | 15.0¢/kWh | Jemez Mountains Elec Coop, Inc | 3 |
| Farmington | 14.0¢/kWh | City of Farmington - (NM) | 2 |
| Alcalde | 15.0¢/kWh | Jemez Mountains Elec Coop, Inc | 1 |
| Angel fire | 19.0¢/kWh | Kit Carson Electric Coop, Inc | 2 |
| Alamo | 16.0¢/kWh | Continental Divide El Coop Inc | 1 |
| Amistad | 22.0¢/kWh | Southwestern Electric Coop Inc - (NM) | 2 |
| Amalia | 19.0¢/kWh | Kit Carson Electric Coop, Inc | 2 |
| Albert | 19.0¢/kWh | Farmers Electric Coop, Inc - (NM) | 3 |
| Animas | 16.0¢/kWh | Public Service Co of NM | 1 |
| Aragon | 15.0¢/kWh | Navopache Electric Coop, Inc | 1 |
| Arenas valley | 16.0¢/kWh | Public Service Co of NM | 1 |
| Arroyo seco | 18.0¢/kWh | Kit Carson Electric Coop, Inc | 1 |
| Alto | 17.0¢/kWh | Otero County Electric Coop Inc | 2 |
| Arroyo hondo | 18.0¢/kWh | Kit Carson Electric Coop, Inc | 1 |
| Artesia | 14.0¢/kWh | Central Valley Elec Coop, Inc | 4 |
| Aztec | 16.0¢/kWh | Jemez Mountains Elec Coop, Inc | 2 |
| Arrey | 10.0¢/kWh | El Paso Electric Co | 1 |
Utilities in New Mexico
How New Mexico Compares
Frequently Asked Questions
What is the average electricity rate in New Mexico?
The average residential electricity rate in New Mexico is 16.0¢ per kilowatt-hour (kWh) based on 2024 EIA data. Rates range from 9.0¢ to 27.0¢/kWh depending on your utility provider and location within the state.
Who is the cheapest electricity provider in New Mexico?
Electricity rates in New Mexico vary by provider and location. The state has 20 utility companies serving different areas. To find the cheapest rate available to you, enter your ZIP code in our lookup tool above for your specific options.
Is New Mexico a deregulated electricity market?
No, New Mexico has a regulated electricity market. Your electricity provider is determined by your location, and rates are set by the state's public utility commission.
How have electricity rates changed in New Mexico?
Electricity rates in New Mexico have increased 9.2% over the past year. The current average residential rate is 16.0¢/kWh.
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