Electricity Rates in Loving, NM
Residents of Loving, NM benefit from relatively low electricity rates, averaging 15.0¢/kWh — 15.6% below the national average. The city is served by 2 electricity providers, with Rio Grande Electric Coop, Inc being the largest.
Electricity Providers in Loving
| Utility | Residential Rate | Commercial Rate | Type |
|---|---|---|---|
| Rio Grande Electric Coop, Inc | 18.0¢/kWh | 19.0¢/kWh | Cooperative |
| Southwestern Public Service Co | 12.0¢/kWh | 8.0¢/kWh | Investor Owned |
Estimated Monthly Electric Bill
Based on the average residential rate of 15.0¢/kWh and typical US household usage of 886 kWh/month:
Solar Savings in Loving
At 15.0¢/kWh, a typical Loving household spends approximately $1594.80/year on electricity. Solar panels could reduce this by 50–90%.
The federal solar tax credit covers 30% of installation costs through 2032.
EV Charging Costs in Loving
Charging an electric vehicle at home in Loving costs approximately $135.00/month at current rates, based on average driving habits (about 30 kWh per charge, charged daily). Compare to public charging prices at ChargeBuddy.ai.
Nearby Cities in New Mexico
Frequently Asked Questions
What is the average electricity rate in Loving, NM?
The average residential electricity rate in Loving, NM is 15.0¢ per kilowatt-hour (kWh) based on 2024 data. This translates to an estimated monthly bill of $132.90 for a typical household.
Who provides electricity in Loving?
Loving is served by 2 electricity providers. Rio Grande Electric Coop, Inc is the largest provider in the area, though rates and availability vary by specific address.
How do Loving electricity rates compare to the rest of New Mexico?
Loving's average rate of 15.0¢/kWh is 6.3% below the New Mexico state average of 16.0¢/kWh. Residents enjoy some of the lower rates in the state.