Electricity Rates in New Mexico

Electricity Rates, Plans & Statistics

Electricity Companies & Statistics in New Mexico

  • Population
    see rank
    2,117,522
  • Total Production
    see rank
    39,244,966 MWh / 18.53 MWh per capita
  • Total Consumption
    see rank
    26,837,521 MWh / 12.67 MWh per capita
  • Total Production from Renewable
    see rank
    16,031,951 MWh / 7.57 MWh per capita
  • CO2 Emissions from Consumption
    see rank
    12,432,109,814 kg / 5,871.07 kg per capita
  • Total Production from Non-Renewable
    see rank
    23,213,247 MWh / 10.96 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$0.151/kWh$0.119/kWh$137.53/mo.$57.55/mo.
34th13.86¢Average residential price per kWh in the state of New Mexico
2nd$92.31Average 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 13.86 cents per kilowatt hour compared to the US average rate of 14.46 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. With 541,895 residential customers, Public Service Company of New Mexico is the largest supplier in the state. Consumers in the state have an average monthly residential electricity bill of $92.31 per month. The US average monthly bill is $129.86. The state is the 15th highest generator of electricity per capita, with an average of 18.53 megawatt hours produced per person per year. The state had an increase of 65.54% in the production of electricity via wind and wind generation now makes up 35.31% of the total generation in the state.

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 MexicoBUNDLED14.4383.23,339,140481,677,0006,253,530.03
Southwestern Public Service CompanyBUNDLED11.95119.011,183,616141,450,4233,203,010
El Paso Electric CompanyBUNDLED11.7882.9778,95891,736,0001,013,524.07
Farmington ElectricBUNDLED11.1371.41276,52730,768,179486,801.33
Jemez Mountains Electric CooperativeBUNDLED13.7777.11185,52825,551,400
Continental Divide Electric CooperativeBUNDLED13.7480.02149,70920,571,000
Kit Carson Electric CooperativeBUNDLED18.6188.66143,46126,694,000
Central New Mexico Electric CoopBUNDLED17.32106.3120,65420,901,000
Otero County Electrictric CooperativeBUNDLED18.99110.04112,86721,436,300
Farmers Electric Clovis, New MexicoBUNDLED11.2394.1799,84111,208,800

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 MexicoBUNDLED11.71623.493,786,837443,290,0006,253,530.03
Southwestern Public Service CompanyBUNDLED9.32671.722,306,880215,032,7043,203,010
El Paso Electric CompanyBUNDLED10.14597.99875,19688,711,0001,013,524.07
Farmington ElectricBUNDLED9.75326.83368,03535,899,161486,801.33
Lea County ElectricBUNDLED7.96504.65299,85123,872,000
City of Gallup UtilitiesBUNDLED11.53694.84146,300.1716,867,879.77
Jemez Mountains Electric CooperativeBUNDLED13.33414.35132,01417,601,400
Continental Divide Electric CooperativeBUNDLED11.25360.54120,39913,542,000
Navajo Tribal Utility AuthorityBUNDLED10.551,032.14108,99011,497,000
Farmers Electric Clovis, New MexicoBUNDLED10.82513.28104,55011,314,700

Power Plants in New Mexico

PlantCity/CountyPrimary Fuel TypeProduction (MWh)Emission (KG)Emissions/MWh (KG/MWh)Toxic Chemical ReleaseClosing Date
San Juan County Coal 9,372,7778,930,345,778.21952.812/2031
San Juan County Coal 4,716,074.015,152,917,797.391,092.636/2022
Hobbs Generating StationLea Power Partners LLC (100.00%)
Lea County Natural Gas 3,237,2331,285,351,970397.05
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 2,933,7951,146,061,192.64390.64
Roosevelt County Wind 2,151,620
El Cabo WindAvangrid (100.00%)
Encino Wind 1,128,098
Torrance County Wind 1,094,547
Roosevelt CountyEDF Renewables (100.00%)
Roosevelt County Wind 1,068,748
Grady Wind Energy Center, LLCGrady Wind Energy Center, LLC (100.00%)
Curry County Wind 910,891
Lea County Natural Gas 803,295489,696,841.9609.6112/2040

Quick Facts

The usage of renewable fuels for electricity production in New Mexico rose by 53.93% last year.

Residents of New Mexico use 12.67 megawatt hours per year each, which is 27th in the US in electricity consumption per person.

There was a 3.21% rise in CO2 emissions per capita over the course of the most recent 12 months in the state of New Mexico.

The state of New Mexico produces 0.49% of their electricity from hydroelectric power, roughly 192,791.28 megawatt hours per year.

New Mexico consumes around 68.38% of the electricity that is generated by their power generation plants.

New Mexico generates 6.6 megawatt hours of electricity per capita with coal per year, which is 11th highest in the country.

CountyPopulationProvidersPlantsResidential Rate (¢)Residential Avg. Electric Bill
Bernalillo County676,44461214.47$84.29/mo
Catron County3,5793114.55$73.36/mo
Chaves County65,1577613.39$116.34/mo
Cibola County27,1722513.88$80.35/mo
Colfax County12,3875322.58$116.94/mo
Curry County48,4303711.59$106.59/mo
De Baca County1,6982112.50$96.71/mo
Doña Ana County219,5614812.36$84.93/mo
Eddy County62,3145112.29$119.57/mo
Grant County28,1857314.89$95.87/mo
Guadalupe County4,4523114.57$99.73/mo
Harding County657321.36$122.67/mo
Hidalgo County4,1786317.09$122.25/mo
Lea County74,45541210.85$107.80/mo
Lincoln County20,2697118.18$107.79/mo
Los Alamos County19,4192113.02$76.64/mo
Luna County25,4278616.74$115.83/mo
McKinley County72,902414.29$79.98/mo
Mora County4,189216.98$78.32/mo
Otero County67,8398416.66$102.75/mo
Quay County8,7464416.53$118.60/mo
Rio Arriba County40,3635615.45$79.28/mo
Roosevelt County19,1914311.58$114.50/mo
San Juan County121,6614414.01$78.14/mo
San Miguel County27,2014415.10$85.73/mo
Sandoval County148,8347313.95$78.21/mo
Santa Fe County154,8237115.65$92.32/mo
Sierra County11,5763117.13$98.65/mo
Socorro County16,595316.07$88.49/mo
Taos County34,4891418.61$88.66/mo
Torrance County15,0452917.17$104.36/mo
Union County4,079225.16$134.69/mo
Valencia County76,2057915.23$85.22/mo

Power Plant Fuel Types, Emissions & Pollution Factors

There are 122 power producing plants in New Mexico, which is the 28th highest number of plants in a state in the country and equates to the 12th highest amount of plants per person. Over 35.60% of electricity in New Mexico comes from generation using Coal. Taken together with Wind (35.31%) and Natural Gas (23.48%), these three fuel sources account for 94.39% of the state's electricity generation. On average, New Mexico citizens emit 5,871.07 kilograms of CO2 emissions from electricity consumption, which is the 17th highest per resident emissions average for a state in the nation. At 5,871.07 kilograms per person and 2,117,522 people in the state, the state emits 12,432,109,813.66 kilograms of CO2 emissions. This is the 36th worst rank in the country for total emissions.

COAL
Coal
Coal
Coal
Coal
35.60%
WIND
Wind
Wind
Wind
Wind
35.31%
NATURAL GAS
Natural Gas
Natural Gas
Natural Gas
23.48%
SOLAR
Solar
4.87%
CONVENTIONAL HYDROELECTRIC
Conventional Hydroelectric
0.49%
OTHER
Other
0.25%

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 6.66% of electricity produced. The countrywide average is 2.76%, resulting in New Mexico having a rank of 49th 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 Coal, which makes up 35.60% of the fuel used in the state. In addition, Wind makes up 35.31% and Natural Gas makes up 23.48%.

What is the cheapest electricity company in New Mexico?

Residential Rate RankProviderResidential Rate (¢)State Customers
1Lea County Electric8.6511,156
2Central Valley Elec Coop10.9715,170
3Farmington Electric11.1345,067
4Farmers Electric Clovis, New Mexico11.2313,285
5Roosevelt County Electric Cooperative11.406,114
6Duncan Valley Electric Cooperative11.52341
7El Paso Electric Company11.78104,583
8Southwestern Public Service Company11.95125,861
9City of Gallup Utilities12.2410,592
10Los Alamos Utilities12.288,766

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 $92 so far in 2022, and the countrywide average is $130.

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 13.86 cents per kilowatt hour is a good electricity rate. The rates in the state range from 8.65 cents to 26.24 cents per kilowatt hour, with Lea County Electric currently having the lowest rates.

How many power plants are located in New Mexico?

There are 122 electricity plants located in New Mexico.

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