Electricity Rates in New Mexico

Electricity Rates, Plans & Statistics

Electricity Companies & Statistics in New Mexico

  • Population
    see rank
    2,115,877
  • Total Production
    see rank
    40,766,481 MWh / 19.27 MWh per capita
  • Total Consumption
    see rank
    27,668,370 MWh / 13.08 MWh per capita
  • Total Production from Renewable
    see rank
    16,979,121 MWh / 8.02 MWh per capita
  • CO2 Emissions from Consumption
    see rank
    11,810,481,453 kg / 5,581.84 kg per capita
  • Total Production from Non-Renewable
    see rank
    23,787,814 MWh / 11.24 MWh per capita
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Average Residential Electricity Bills & Rates in New Mexico

New Mexico residential electric rates are highest in January and the highest average bill is in May.

Historical Electricity Rates:

Price Per kWhAverage Bill$0.153/kWh$0.119/kWh$137.80/mo.$57.55/mo.
26th14.14¢Average residential price per kWh in the state of New Mexico
2nd$95.79Average residential monthly electricity bill for New Mexico Residents

New Mexico Electricity Fuel Mix

New Mexico's Electricity Prices and Usage

Citizens in New Mexico enjoy a lower residential electricity rate than many people around the country, with an average state electric rate of 14.14 cents per kilowatt hour compared to the US average rate of 15.34 cents. The state has over 30 electric providers, but citizens are usually left with only a couple supplier options due to the fact that New Mexico has a regulated electricity market. Public Service Company of New Mexico sells 9,555,324 megawatt hours in the state a year, which is more than all other vendors. Previously, around 11,160,632.12 megawatt hours were generated in the state from wind energy per year. However, now that total is 14,806,054.73 megawatt hours, a 32.66% rise. The average monthly residential power bill for a consumer in New Mexico is $95.79 per month, while the nationwide average is $137.45. All in all, consumers living in state consume 27,668,370 megawatt hours to meet their electricity needs.

Residential Electricity Providers in New Mexico

ProviderService TypeResidential Rate (¢)Residential Average Bill ($)Residential Sales (MWh)Residential Revenues ($)State Production (MWh)
Public Service Company of New MexicoBUNDLED14.4584.043,381,136488,577,0006,446,566.18
Southwestern Public Service CompanyBUNDLED12.79130.431,216,870155,579,0573,670,647
El Paso Electric CompanyBUNDLED12.1687.05797,99697,034,0001,016,787.01
Farmington ElectricBUNDLED11.7177.36285,02433,382,225613,014.16
Jemez Mountains Electric CooperativeBUNDLED14.1078.93187,50726,446,000
Continental Divide Electric CooperativeBUNDLED14.1088.68156,03421,995,000
Kit Carson Electric CooperativeBUNDLED18.6091.09149,76627,849,500
Central New Mexico Electric CoopBUNDLED17.31107.55124,95021,634,000
Otero County Electrictric CooperativeBUNDLED18.42103.47109,55820,175,700
Farmers Electric Clovis, New MexicoBUNDLED12.2197.696,47611,778,500

Commercial Electricity Providers in New Mexico

ProviderService TypeCommercial Rate (¢)Commercial Average Bill ($)Commercial Sales (MWh)Commercial Revenues ($)State Production (MWh)
Public Service Company of New MexicoBUNDLED11.65624.533,823,390445,241,0006,446,566.18
Southwestern Public Service CompanyBUNDLED9.79736.882,417,111236,606,9353,670,647
El Paso Electric CompanyBUNDLED10.65621.94872,46892,920,0001,016,787.01
Farmington ElectricBUNDLED10.21346.93373,35538,113,593613,014.16
Lea County ElectricBUNDLED8.00528.06307,72924,618,000
City of Gallup UtilitiesBUNDLED11.36737.7157,031.9217,846,381.09
Jemez Mountains Electric CooperativeBUNDLED13.55447.17138,32218,749,000
Continental Divide Electric CooperativeBUNDLED11.54393.4121,99314,082,000
Kit Carson Electric CooperativeBUNDLED17.03334.37107,32118,272,400
Farmers Electric Clovis, New MexicoBUNDLED11.80563.5105,12712,408,300

Power Plants in New Mexico

PlantCity/CountyPrimary Fuel TypeProduction (MWh)Emission (KG)Emissions/MWh (KG/MWh)Toxic Chemical ReleaseClosing Date
San Juan County Coal 9,866,368.19,463,009,849.83959.1212/2031
San Juan County Coal 3,980,059.014,345,079,943.941,091.719/2022
Luna Energy FacilityTucson Electric Power (33.30%)Samchully Power & Utilities 1 LLC (33.40%)Public Service Company of New Mexico (33.30%)
Deming Natural Gas 3,473,8391,341,375,424.06386.14
Hobbs Generating StationLea Power Partners LLC (100.00%)
Lea County Natural Gas 3,415,4131,348,797,987.46394.92
Roosevelt County Wind 2,082,199
Lea County Natural Gas 1,212,467732,178,282.78603.87
El Cabo WindAvangrid (100.00%)
Encino Wind 1,077,951
Red Cloud Wind LLCPattern Operators LP (100.00%)
Torrance County Wind 1,060,402
Roosevelt CountyEDF Renewables (100.00%)
Roosevelt County Wind 1,036,672
Torrance County Wind 1,026,605

Quick Facts

New Mexico had a 29.48% increase over the last year in the use of renewable fuel types for electricity generation.

Electricity use per capita in New Mexico totals 13.08 megawatt hours per year.

New Mexico produces 58.35% of their electricity from non-renewable fuel sources. This equates to 11.24 megawatt hours per resident and ranks New Mexico as the 20th highest state for non-renewable generation per capita a year.

With 12,393,670.1 megawatt hours of electricity produced from coal, New Mexico is 26th in the country for total megawatt hours produced from coal.

The state of New Mexico produces 0.31% of their electricity from hydroelectric power, roughly 127,337.84 megawatt hours per year.

New Mexico consumes around 67.87% of the generation put out by their generating plants.

CountyPopulationProvidersPlantsResidential Rate (¢)Residential Avg. Electric Bill
Bernalillo County674,91961214.60$87.80/mo
Catron County3,5813114.79$73.79/mo
Chaves County65,0147713.88$124.31/mo
Cibola County27,2842514.18$88.15/mo
Colfax County12,4065321.56$114.15/mo
Curry County48,7163712.50$114.01/mo
De Baca County1,8732113.28$99.68/mo
Doña Ana County218,1574812.76$88.35/mo
Eddy County61,0965113.07$130.68/mo
Grant County28,1787314.80$94.92/mo
Guadalupe County4,4653114.99$101.90/mo
Harding County533320.43$119.69/mo
Hidalgo County4,2146316.82$119.26/mo
Lea County72,74341211.63$120.30/mo
Lincoln County20,0847117.85$104.72/mo
Los Alamos County19,1692113.13$77.93/mo
Luna County25,2828616.55$113.54/mo
McKinley County72,9464114.84$86.53/mo
Mora County4,232216.45$78.29/mo
Otero County67,2988417.16$101.75/mo
Quay County8,6754516.48$121.46/mo
Rio Arriba County40,3475615.82$81.44/mo
Roosevelt County19,2234312.40$124.51/mo
San Juan County122,9124414.70$82.97/mo
San Miguel County27,3574415.12$86.84/mo
Sandoval County147,3277414.31$80.88/mo
Santa Fe County153,6327115.72$93.56/mo
Sierra County11,5123317.18$94.60/mo
Socorro County16,605315.76$86.05/mo
Taos County34,3221518.60$91.09/mo
Torrance County15,1502917.12$105.31/mo
Union County4,122223.50$129.27/mo
Valencia County75,9927915.04$85.08/mo

Power Plant Fuel Types, Emissions & Pollution Factors

There are 128 power producing plants in New Mexico, which is the 28th highest number of plants in a state in the country and equates to the 13th highest amount of plants per person. Over 36.32% of electricity in New Mexico comes from generation using Wind. Taken together with Coal (30.40%) and Natural Gas (27.89%), these three fuel sources account for 94.62% of the state's electricity generation. On average, New Mexico citizens emit 5,581.84 kilograms of CO2 emissions from electricity consumption, which is the 17th highest per resident emissions average for a state in the nation. At 5,581.84 kilograms per person and 2,115,877 people in the state, the state emits 11,810,481,452.78 kilograms of CO2 emissions. This is the 37th worst rank in the country for total emissions.

WIND
Wind
Wind
Wind
Wind
36.32%
COAL
Coal
Coal
Coal
Coal
30.40%
NATURAL GAS
Natural Gas
Natural Gas
Natural Gas
27.89%
SOLAR
Solar
4.84%
CONVENTIONAL HYDROELECTRIC
Conventional Hydroelectric
0.31%
OTHER
Other
0.24%

New Mexico Net Metering

New Mexico has 22 out of 29 companies reporting that they offer net metering to residents with personal solar panels. New Mexico has decent regulations in place for consumers who are interested in taking advantage of net metering with personal solar panels.

Energy Loss

There are 14 providers in New Mexico that reported energy loss, including Public Service Company of New Mexico, Farmington Electric, and Jemez Mountains Electric Cooperative. Combined, these 14 electricity providers average a yearly energy loss of 6.60% of electricity produced. The countrywide average is 2.45%, resulting in New Mexico having a rank of 50th best in the United States for energy loss efficiency.

Solar Taxes And Rebates

When it comes to stimulating solar panel installs at private residences, tax and rebate incentives from the government are some of the easiest methods. New Mexico currently does not offer a state tax credit for solar panel installation at a private residence. There are currently no statewide rebates available to consumers who are purchasing solar panels. Fortunately, New Mexico offers a 100% tax exemption to homeowners. at their place of residence. The state offers a 100% sales tax exemption to homeowners who install solar panels. This is a win for those who live in the state.

State Level Initiatives

Statewide legislation plays a big part in determining whether customers who are seeking renewable energy sources can easily find alternatives. States that have Renewable Portfolio Standards (RPS) have requirements in place for electricity providers who operate in the state. These standards require that a percentage of electricity must be produced using renewable energy. The state of New Mexico requires electricity companies to generate at least 25% of their electricity from renewable fuels. Additionally, there are currently no low income solar programs to assist low income families to install solar panels.

Learn about going solar in New Mexico, find out which system size is best for you, compare local installers and see which incentives are available in your area.

FAQ: Common Questions About Electricity in New Mexico

Where does New Mexico get its electricity?

New Mexico's electricity is produced using mainly Wind, which makes up 36.32% of the fuel used in the state. In addition, Coal makes up 30.40% and Natural Gas makes up 27.89%.

What is the cheapest electricity company in New Mexico?

Residential Rate RankProviderResidential Rate (¢)State Customers
1Lea County Electric9.3011,051
2Duncan Valley Electric Cooperative11.23345
3Farmington Electric11.7145,121
4Central Valley Elec Coop11.8115,100
5City of Gallup Utilities12.0710,555
6Roosevelt County Electric Cooperative12.126,131
7Los Alamos Utilities12.158,719
8El Paso Electric Company12.16105,353
9Farmers Electric Clovis, New Mexico12.2113,430
10Southwestern Public Service Company12.79126,307

Does New Mexico have a deregulated electricity market?

No, the state has a regulated market, where citizens' electricity supplier options are often determined by their location or state legislation.

What is the average electric bill in New Mexico?

The New Mexico average electricity bill is $96 so far in 2023, and the countrywide average is $137.

Which electricity company is the largest provider in New Mexico?

By total megawatt hours sold, Public Service Company of New Mexico is the largest electricity supplier in New Mexico.

How many electric companies offer service in New Mexico?

New Mexico is home to 29 electricity companies offering service in the area.

How much does electricity cost in New Mexico?

Anything below the New Mexico average of 14.14 cents per kilowatt hour is a good electricity rate. The rates in the state range from 9.30 cents to 24.32 cents per kilowatt hour, with Lea County Electric currently having the lowest rates.

How many power plants are located in New Mexico?

There are 128 electricity plants located in New Mexico.

Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2022-09-24