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 | |
| Clothes Washers | $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 |
| 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 |
| 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 |
| Freezers (purchase) | $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 |
| Clothes Dryers | $75 | Public Service Company of New Mexico (PNM) | See Details |
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 Electric Water & Space Heating | Fixed | 10¢ to 16¢ |
| Residential-General Service | Fixed | 16¢ |
| Residential Central Cooling & Water Heating | Fixed | 10¢ to 16¢ |
| Residential Electric Space Heating | Fixed | 10¢ to 16¢ |
| Residential 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-4/40 (PRC Rate No. 1) | Fixed | 11¢ |
| Residential Time of Use-14 (PRC Rate No. 14) | TOU | 4¢ to 13¢ |
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¢ |
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 Renewable Energy Rate | TOU | 19¢ to 30¢ |
| Residential Service | TOU | 11¢ to 26¢ |
| RS (Residential Service) Renewable Energy Rate | Fixed | 19¢ to 22¢ |
| Residential Service | Fixed | 11¢ to 16¢ |
| RS - TOD Voluntary Renewable Energy Rider | TOU | 16¢ to 27¢ |
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¢ |
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 |
| Single Phase ( Greater than 15 KVA) | Fixed | 6¢ |
| Three Phase (15 kva or less) | Fixed | 7¢ |
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 13¢ |
| Optional Time-Of-Use Residential Service | TOU | 6¢ to 16¢ |
| Irrigation Power service | Fixed | 16¢ |
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¢ |
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 Home Heating | Fixed | 9¢ to 10¢ |
| General Service | Fixed | 10¢ |
| General Service Electric Water Heating | Fixed | 9¢ to 10¢ |
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¢ |
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-TOU | TOU | 7¢ to 14¢ |
| Residential Service | Fixed | 11¢ |
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¢ |
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 |
| Large Irrigation Service | Fixed | 6¢ |
| Small Irrigation Service | Fixed | 7¢ |
| Residential Service - Three Phase | Fixed | 8¢ |
| Cottin Gin Service | Fixed | 8¢ |
| Residential Service - Single 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 |
| General Service with electric water heater (rate 22) | Fixed | 6¢ to 13¢ |
| Time of Use Residential Service with Electric Thermal Storage units | TOU | 4¢ to 15¢ |
| New Time-Of-Use Residential Service | TOU | 5¢ to 16¢ |
| General Service with electric water heater w/ timer (rate 22T) | Fixed | 5¢ to 13¢ |
| Time of Use Residential Service Without Electric Thermal Storage Unit | TOU | 6¢ to 15¢ |
| General Service | 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 |
| Residential Service - Alternative TOU | TOU | 10¢ to 28¢ |
| Residential Heating Service | Fixed | 7¢ to 10¢ |
| RS (Residential Service) | Fixed | 11¢ to 13¢ |
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¢ |
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 - Regular Rate | Fixed | 14¢ |
| Residential Optional - Time of Use Rate | TOU | 9¢ to 27¢ |
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¢ |
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 |
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 | 11¢ to 24¢ |
| Residential Service | Fixed | 12¢ to 21¢ |
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 |
| Seasonal (Formerly Recreational) | Fixed | 13¢ |
| Recreational Service | Fixed | 13¢ |
| Residential High Usage | Fixed | 12¢ |
| Residential | Fixed | 13¢ |
| Residential Temporary Service | Fixed | 18¢ |
| Residential Rate | Fixed | 13¢ |
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¢ |
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¢ |
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