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
$265highestFebruary
$185March
$145April
$142May
$141lowestJune
$169July
$183August
$177September
$142October
$151November
$154December
$191Carbon Emissions
763 lbs CO₂
Monthly Usage
1,129 kWh
New Mexico's energy comes from Wind, Natural Gas, Coal, and Solar. Wind is the largest source of electricity, providing 36% of New Mexico's energy. Natural Gas is the second largest source, making up 23%. Coal provides 21% of the energy in New Mexico. Solar provides 21% of the energy in New Mexico.
36%
Wind
23%
Natural Gas
21%
Coal
21%
Solar
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
$18,197
Average system cost
(after incentives)
6 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 | |
| Room Air Conditioning (purchase) | $25 | Public Service Company of New Mexico (PNM) | See Details |
| Smart Thermostats | $50 | 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 Dryers | $75 | 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 |
| Central Air Conditioning - Single Package | $200-$400 | Public Service Company of New Mexico (PNM) | See Details |
| Refrigerators (purchase) | $125 | Public Service Company of New Mexico (PNM) | See Details |
| Air-Source Heat Pump - Single Package | $200-$400 | Public Service Company of New Mexico (PNM) | See Details |
| Clothes Washers | $75 | Public Service Company of New Mexico (PNM) | See Details |
| Freezers (purchase) | $50 | Public Service Company of New Mexico (PNM) | See Details |
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 |
| New Time-Of-Use Residential Service | TOU | 5¢ to 16¢ |
| Time of Use Residential Service Without Electric Thermal Storage Unit | TOU | 6¢ to 15¢ |
| General Service with electric water heater (rate 22) | Fixed | 6¢ to 13¢ |
| General Service | Fixed | 13¢ |
| Time of Use Residential Service with Electric Thermal Storage units | TOU | 4¢ to 15¢ |
| General Service with electric water heater w/ timer (rate 22T) | Fixed | 5¢ to 13¢ |
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 | 14¢ |
| Residential Service - Time-of-Use | TOU | 8¢ to 17¢ |
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 |
| Residential Service | Fixed | 13¢ |
| Residential Service with ETS | TOU | 9¢ to 16¢ |
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 |
| Residential Service | Fixed | 9¢ to 11¢ |
| Residential Service - Alternative TOU | TOU | 8¢ to 28¢ |
| Residential Heating Service | Fixed | 7¢ to 11¢ |
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 |
| Residential Service | Fixed | 11¢ to 14¢ |
| Optional Time-of-Use Residential Service (Rate No. 17) | TOU | 8¢ to 16¢ |
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 - TOU | TOU | 13¢ to 20¢ |
| Residential Service | Fixed | 16¢ |
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 |
| Residential TIME OF DAY (TOD) | TOU | 11¢ to 24¢ |
| Residential Service | Fixed | 11¢ to 16¢ |
| EXPERIMENTAL ELECTRIC VEHICLE CHARGING RATE (EEVC) | TOU | 6¢ to 40¢ |
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 Optional Time of Use | TOU | 9¢ to 16¢ |
| Residential Service | Fixed | 11¢ to 12¢ |
PNM has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type | Cost Per kWh |
| Residential Service TIME-OF-USE (“TOU”) | TOU | 11¢ to 27¢ |
| Residential Service | Fixed | 12¢ to 23¢ |
| Residential Service TIME-OF-DAY (“TOD”) | TOU | 12¢ to 41¢ |
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¢ |
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 | Fixed | 7¢ |
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¢ |
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 |
| Residential | Fixed | 9¢ to 50¢ |
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 General Service (Schedule GS) | Fixed | 10¢ |
| General Service - Time of Use (Schedule GS-TOU) | TOU | 7¢ 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-4/40 (PRC Rate No. 1) | Fixed | 11¢ |
| Residential Time of Use-14 (PRC Rate No. 14) | TOU | 4¢ to 13¢ |
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 | 11¢ |
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¢ |
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 - General Service | Fixed | 19¢ |
| Residential Central Cooling | Fixed | 14¢ to 19¢ |
| Residential Electric Space Heating | Fixed | 14¢ to 19¢ |
| Residential Electric Space Heating & Central Cooling | Fixed | 14¢ to 19¢ |
| Residential Central Cooling & Water Heating | Fixed | 14¢ to 19¢ |
| Residential Electric Water Heater | Fixed | 14¢ to 19¢ |
| Residential Electric Water & Space Heating | Fixed | 14¢ to 19¢ |
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¢ |
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¢ |
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 |
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 | Fixed | 10¢ |
| General Service Home Heating | Fixed | 9¢ to 10¢ |
| General Service Electric Water Heating | Fixed | 9¢ to 10¢ |
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 |
| Rural Residential Service | Fixed | 7¢ |
| Urban Residential Service | Fixed | 7¢ |
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 | Fixed | 12¢ to 20¢ |
| Residential Temporary Service | Fixed | 17¢ to 25¢ |
| Seasonal Service | Fixed | 12¢ to 19¢ |
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¢ |
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