Public Service Company of New Mexico (PNM) is an electric utility that provides power to over 500,000 customers in New Mexico. The company has been serving customers in the state for over 100 years and has a diverse portfolio of energy resources that includes coal, natural gas, nuclear, wind, and solar. PNM operates 10 power plants in New Mexico and has over 3,000 miles of transmission lines and 18,000 miles of distribution lines. In addition to providing power, the company is committed to supporting the communities it serves through various initiatives, including energy efficiency programs, renewable energy development, and charitable giving. PNM is regulated by the New Mexico Public Regulation Commission and is committed to providing reliable and affordable power to its customers.
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PNM's energy comes from wind, coal, solar, and natural gas. Wind is the largest source of electricity, providing 48% of PNM's energy. Coal is the second largest source, making up 41%. Solar provides 7% of PNM's electricity. Natural Gas provides 4% of PNM's electricity.
48%
Wind
41%
Coal
7%
Solar
4%
Natural Gas
The average electricity rate for PNM customers is 14.51 cents/kWh. 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¢ |
In 2021, the average PNM customer lost electricity one time for a duration of 119 minutes. In total, the average PNM customer had their electricity out for about 98 minutes during the whole year.
PNM can help you upgrade appliances and smart devices in your home.
| incentive | savings | utility | |
| 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 |
| Dishwashers | $50 | 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 |
| Central Air Conditioning - Split Systems | $200-$400 | 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 - 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 |
| Ductless Heat Pump (mini & multi split) Systems | $400-$800 | Public Service Company of New Mexico (PNM) | See Details |
| Freezers (purchase) | $50 | Public Service Company of New Mexico (PNM) | See Details |
Either credited to customer's next bill at avoided cost rate or excess kWh generated are credited to the account and rolled over indefinitely (equivalent to retail rate) (e.g., available to PNM customers). If customer leaves the utility, unused credits are paid out at the avoided cost rate.
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