WattBuy’s Guide toElectricity in
Electricity in
New Mexico
Here's the average monthly bill, usage, and carbon footprint of residents in New Mexico
January
$340highestFebruary
$185March
$145April
$141May
$140lowestJune
$165July
$168August
$168September
$148October
$149November
$182December
$222Carbon Emissions
600 lbs CO₂
Monthly Usage
1,204 kWh
New Mexico's energy comes from Wind, Natural Gas, Solar, and Coal. Wind is the largest source of electricity, providing 49% of New Mexico's energy. Natural Gas is the second largest source, making up 23%. Solar provides 16% of the energy in New Mexico. Coal provides 13% of the energy in New Mexico.
49%
Wind
23%
Natural Gas
16%
Solar
13%
Coal
Solar power is on the rise, helping homeowners save on their electricity bills and power their homes sustainably.
1,857 kWh
Energy generated by average sized system
$14,152
Average system cost
(after federal incentive)
10 years
Payback period
Net metering policies in New Mexico can help solar panel owners save money and reduce their carbon footprint. When your solar panels generate more electricity than you use, you can send the excess back to the grid and receive credit on your next bill. Just something to keep in mind when considering solar panels.
| incentive | savings | utility | |
| Air-Source Heat Pump - Single Package | $200-$400 | Public Service Company of New Mexico (PNM) | See Details |
| Dishwashers | $50 | Public Service Company of New Mexico (PNM) | See Details |
| Ductless Heat Pump (mini & multi split) Systems | $400-$800 | Public Service Company of New Mexico (PNM) | See Details |
| Smart Thermostats | $50 | Public Service Company of New Mexico (PNM) | See Details |
| Central Air Conditioning - Single Package | $200-$400 | Public Service Company of New Mexico (PNM) | See Details |
| Freezers (purchase) | $50 | Public Service Company of New Mexico (PNM) | See Details |
| Clothes Dryers | $75 | Public Service Company of New Mexico (PNM) | See Details |
| Central Air Conditioning - Split Systems | $200-$400 | Public Service Company of New Mexico (PNM) | See Details |
| Clothes Washers | $75 | Public Service Company of New Mexico (PNM) | See Details |
| Refrigerators (purchase) | $125 | Public Service Company of New Mexico (PNM) | See Details |
| Room Air Conditioning (purchase) | $25 | Public Service Company of New Mexico (PNM) | See Details |
Roosevelt County Elec Coop Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| General Service Electric Water Heating | Fixed | 9¢ to 10¢ |
| General Service | Fixed | 10¢ |
| General Service Home Heating | Fixed | 9¢ to 10¢ |
Otero County Electric Coop Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Optional - Time of Use Rate | TOU | 9¢ to 27¢ |
| Residential - Regular Rate | Fixed | 14¢ |
Socorro Electric Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| GENERAL SERVICE - SCHEDULE GS | Fixed | 13¢ |
Xcel Energy - New Mexico has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| RS (Residential Service) | Fixed | 11¢ to 13¢ |
| Residential Service - Alternative TOU | TOU | 10¢ to 28¢ |
| Residential Heating Service | Fixed | 7¢ to 10¢ |
Continental Divide El Coop Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| RESIDENTIAL RATE - GENERAL SERVICE | Fixed | 10¢ |
| Time-Of-Use Rate | TOU | 5¢ to 13¢ |
Central Valley Elec Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Rate | Fixed | 8¢ |
Lea County Electric Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Cottin Gin Service | Fixed | 8¢ |
| Residential Service - Single Phase | Fixed | 8¢ |
| Large Irrigation Service | Fixed | 6¢ |
| Small Irrigation Service | Fixed | 7¢ |
| Residential Service - Three Phase | Fixed | 8¢ |
Central New Mexico El Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Time of Use Residential Service Without Electric Thermal Storage Unit | TOU | 6¢ to 15¢ |
| General Service | Fixed | 13¢ |
| General Service with electric water heater w/ timer (rate 22T) | Fixed | 5¢ to 13¢ |
| Time of Use Residential Service with Electric Thermal Storage units | TOU | 4¢ to 15¢ |
| General Service with electric water heater (rate 22) | Fixed | 6¢ to 13¢ |
| New Time-Of-Use Residential Service | TOU | 5¢ to 16¢ |
Los Alamos County has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential | Fixed | 15¢ |
Rio Grande Electric Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Rate | Fixed | 13¢ |
| Residential High Usage | Fixed | 12¢ |
| Recreational Service | Fixed | 13¢ |
| Residential Temporary Service | Fixed | 18¢ |
| Residential | Fixed | 13¢ |
| Seasonal (Formerly Recreational) | Fixed | 13¢ |
Southwestern Electric Coop Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Central Cooling | Fixed | 10¢ to 16¢ |
| Residential Electric Space Heating | Fixed | 10¢ to 16¢ |
| Residential-General Service | Fixed | 16¢ |
| Residential Central Cooling & Water Heating | Fixed | 10¢ to 16¢ |
| Residential Electric Water & Space Heating | Fixed | 10¢ to 16¢ |
| Residential Electric Water Heating- TOU | Fixed | 10¢ to 16¢ |
| Residential Electric Space Heating & Central Cooling | Fixed | 10¢ to 16¢ |
Northern Rio Arriba E Coop Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Time of Use-14 (PRC Rate No. 14) | TOU | 4¢ to 13¢ |
| Residential-4/40 (PRC Rate No. 1) | Fixed | 11¢ |
Mora-San Miguel Elec Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Service | Fixed | 12¢ |
| Seasonal Residential Service | Fixed | 11¢ |
Raton Public Service Company has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Urban Residential Service | Fixed | 7¢ |
| Rural Residential Service | Fixed | 7¢ |
PNM has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Service | Fixed | 12¢ to 21¢ |
| Residential Service Time-Of-Use | TOU | 11¢ to 24¢ |
City of Gallup has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type |
| Residential Service Rate | Fixed |
City of Aztec has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential and Multi-unit Residential. | Fixed | 13¢ to 14¢ |
City of Truth or Consequences has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential | Fixed | 17¢ |
Duncan Valley Elec Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Three Phase (15 kva or less) | Fixed | 7¢ |
| Single Phase ( Greater than 15 KVA) | Fixed | 6¢ |
City of Farmington has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Service | Fixed | 10¢ |
El Paso Electric Company - New Mexico has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| RS - TOD Voluntary Renewable Energy Rider | TOU | 16¢ to 27¢ |
| Residential Service | Fixed | 11¢ to 16¢ |
| RS - TOD Renewable Energy Rate | TOU | 19¢ to 30¢ |
| Residential Service | TOU | 11¢ to 26¢ |
| RS (Residential Service) Renewable Energy Rate | Fixed | 19¢ to 22¢ |
Sierra Electric Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Service | Fixed | 9¢ |
| Residential Service-TOU | TOU | 8¢ to 14¢ |
Farmers' Electric Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Service | Fixed | 8¢ to 11¢ |
Springer Electric Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Service | Fixed | 11¢ |
| Residential Service-TOU | TOU | 7¢ to 14¢ |
Kit Carson Electric Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Irrigation Power service | Fixed | 16¢ |
| Optional Time-Of-Use Residential Service | TOU | 6¢ to 16¢ |
| Residential Service | Fixed | 11¢ to 13¢ |
Jemez Mountains Elec Coop, Inc has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Service | Fixed | 11¢ to 12¢ |
| Residential Optional Time of Use | TOU | 9¢ to 16¢ |
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