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
$334highestFebruary
$182March
$143April
$139May
$137lowestJune
$162July
$165August
$165September
$145October
$146November
$179December
$218Carbon Emissions
563 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 22%. Solar provides 17% of the energy in New Mexico. Coal provides 12% of the energy in New Mexico.
49%
Wind
22%
Natural Gas
17%
Solar
12%
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 | |
| Ductless Heat Pump (mini & multi split) Systems | $400-$800 | Public Service Company of New Mexico (PNM) | See Details |
| Room Air Conditioning (purchase) | $25 | Public Service Company of New Mexico (PNM) | See Details |
| Clothes Dryers | $75 | Public Service Company of New Mexico (PNM) | See Details |
| Freezers (purchase) | $50 | 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 |
| Central Air Conditioning - Split Systems | $200-$400 | 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 |
| Smart Thermostats | $50 | Public Service Company of New Mexico (PNM) | See Details |
| Clothes Washers | $75 | Public Service Company of New Mexico (PNM) | See Details |
| Dishwashers | $50 | Public Service Company of New Mexico (PNM) | See Details |
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 |
| Optional Time-Of-Use Residential Service | TOU | 6¢ to 16¢ |
| Residential Service | Fixed | 11¢ to 13¢ |
| Irrigation Power service | Fixed | 16¢ |
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 |
| Time-Of-Use Rate | TOU | 5¢ to 13¢ |
| RESIDENTIAL RATE - GENERAL SERVICE | Fixed | 10¢ |
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 | 13¢ |
| Seasonal (Formerly Recreational) | Fixed | 13¢ |
| Residential High Usage | Fixed | 12¢ |
| Recreational Service | Fixed | 13¢ |
| Residential Rate | Fixed | 13¢ |
| Residential Temporary Service | Fixed | 18¢ |
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 Heating Service | Fixed | 7¢ to 10¢ |
| Residential Service - Alternative TOU | TOU | 10¢ to 28¢ |
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 |
| Seasonal Residential Service | Fixed | 11¢ |
| Residential Service | Fixed | 12¢ |
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¢ |
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¢ |
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¢ |
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 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 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¢ |
| New Time-Of-Use Residential Service | TOU | 5¢ to 16¢ |
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¢ |
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¢ |
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¢ |
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¢ |
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 Service | TOU | 11¢ to 26¢ |
| RS - TOD Voluntary Renewable Energy Rider | TOU | 16¢ to 27¢ |
| RS - TOD Renewable Energy Rate | TOU | 19¢ to 30¢ |
| Residential Service | Fixed | 11¢ to 16¢ |
| RS (Residential Service) Renewable Energy Rate | Fixed | 19¢ to 22¢ |
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¢ |
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-TOU | TOU | 7¢ to 14¢ |
| 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 Electric Water Heating- TOU | Fixed | 10¢ to 16¢ |
| Residential Electric Space Heating & Central Cooling | Fixed | 10¢ to 16¢ |
| Residential Central Cooling | Fixed | 10¢ to 16¢ |
| Residential-General Service | Fixed | 16¢ |
| Residential Electric Water & Space Heating | Fixed | 10¢ to 16¢ |
| Residential Central Cooling & Water Heating | Fixed | 10¢ to 16¢ |
| Residential Electric Space Heating | Fixed | 10¢ to 16¢ |
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 Service - Single Phase | Fixed | 8¢ |
| Cottin Gin Service | Fixed | 8¢ |
| Small Irrigation Service | Fixed | 7¢ |
| Large Irrigation Service | Fixed | 6¢ |
| Residential Service - Three Phase | Fixed | 8¢ |
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¢ |
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 Gallup has several different electricity rates for residential customers, as shown in the table below.
| Rate Name | Rate Type |
| Residential Service Rate | Fixed |
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¢ |
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 Electric Water Heating | Fixed | 9¢ to 10¢ |
| General Service Home Heating | Fixed | 9¢ to 10¢ |
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