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
$314highestFebruary
$171March
$152April
$131May
$129lowestJune
$152July
$155August
$155September
$137October
$138November
$168December
$205Carbon Emissions
622 lbs CO₂
Monthly Usage
1,215 kWh
New Mexico's energy comes from Wind, Natural Gas, Solar, Coal, and Hydroelectric. Wind is the largest source of electricity, providing 43% of New Mexico's energy. Natural Gas is the second largest source, making up 34%. Solar provides 14% of the energy in New Mexico. Coal provides 9% of the energy in New Mexico. Hydroelectric provides 1% of the energy in New Mexico.
43%
Wind
34%
Natural Gas
14%
Solar
9%
Coal
1%
Hydroelectric
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 |
| 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 |
| Dishwashers | $50 | Public Service Company of New Mexico (PNM) | See Details |
| Smart Thermostats | $50 | Public Service Company of New Mexico (PNM) | See Details |
| Room Air Conditioning (purchase) | $25 | 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 |
| Refrigerators (purchase) | $125 | Public Service Company of New Mexico (PNM) | See Details |
| Clothes Dryers | $75 | 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 |
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 Rate | Fixed | 8¢ |
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¢ |
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¢ |
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¢ |
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 High Usage | Fixed | 12¢ |
| Residential Temporary Service | Fixed | 18¢ |
| Seasonal (Formerly Recreational) | Fixed | 13¢ |
| Recreational Service | Fixed | 13¢ |
| Residential | Fixed | 13¢ |
| Residential Rate | Fixed | 13¢ |
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¢ |
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 |
| Small Irrigation Service | Fixed | 7¢ |
| Cottin Gin Service | Fixed | 8¢ |
| Residential Service - Three Phase | Fixed | 8¢ |
| Residential Service - Single Phase | Fixed | 8¢ |
| Large Irrigation Service | Fixed | 6¢ |
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¢ |
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¢ |
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¢ |
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¢ |
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 & Space Heating | Fixed | 10¢ to 16¢ |
| Residential-General Service | Fixed | 16¢ |
| Residential Electric Space Heating & Central Cooling | Fixed | 10¢ to 16¢ |
| Residential Central Cooling | Fixed | 10¢ to 16¢ |
| Residential Electric Water Heating- TOU | Fixed | 10¢ to 16¢ |
| Residential Electric Space Heating | Fixed | 10¢ to 16¢ |
| Residential Central Cooling & Water Heating | Fixed | 10¢ to 16¢ |
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¢ |
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¢ |
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¢ |
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¢ |
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¢ |
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¢ |
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¢ |
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¢ |
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 |
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¢ |
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¢ |
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 with Electric Thermal Storage units | TOU | 4¢ to 15¢ |
| General Service | Fixed | 13¢ |
| General Service with electric water heater (rate 22) | Fixed | 6¢ to 13¢ |
| General Service with electric water heater w/ timer (rate 22T) | Fixed | 5¢ to 13¢ |
| New Time-Of-Use Residential Service | TOU | 5¢ to 16¢ |
| Time of Use Residential Service Without Electric Thermal Storage Unit | TOU | 6¢ to 15¢ |
Enter your address and WattBuy's proprietary energy estimation model will find the best electricity options for your home