Electricity rates › New Mexico
New Mexico electricity rates
Homes in New Mexico pay an average of 14.2¢ per kWh, 14% below the US average, and use 654 kWh a month. New Mexico ranks #31 of 51 for residential electricity prices.
Residential rates by utility in New Mexico
| Utility | ¢/kWh | ZIP codes served |
|---|---|---|
| Public Service Co of NM | 15.2 | 108 |
| Jemez Mountains Elec Coop, Inc | 15.1 | 62 |
| Continental Divide El Coop Inc | 15.7 | 43 |
| Otero County Electric Coop Inc | 19.1 | 42 |
| Kit Carson Electric Coop, Inc | 15.7 | 41 |
| Navajo Tribal Utility Authority | 18.5 | 38 |
| El Paso Electric Co | 9.6 | 37 |
| Central New Mexico El Coop, Inc | 16.6 | 36 |
| Springer Electric Coop, Inc | 19.1 | 31 |
| Farmers Electric Coop, Inc | 12.5 | 29 |
| Southwestern Public Service Co | 11.8 | 25 |
| Roosevelt County Elec Coop Inc | 12.2 | 17 |
Average residential rates for full-service utilities, from NREL’s utility rates by ZIP code (2023). In areas with retail choice, your price depends on the plan you pick.
Is solar worth it in New Mexico?
At 14.2¢ per kWh, every 1,000 kWh your roof makes and you use yourself is worth about $142. A system that covers the average New Mexico home would replace about 7,848 kWh a year, roughly $1,114 of electricity at today’s prices.
Assumes a typical 1,350 kWh per kW of panels a year and $3.00/W installed, before incentives and price increases. Your roof’s direction, pitch and shade change these numbers; the estimator measures them for your address.
Plan solar for your New Mexico home
State figures: EIA Table 5A, 2024 Average Monthly Bill - Residential (forms EIA-861, 861S, 861U).