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New Mexico Electricity Prices

Average retail price by sector.

Residential
15.06¢ /kWh
▲ 2.6%vs. last year
Commercial
10.82¢ /kWh
▼ 6.0%vs. last year
Industrial
4.62¢ /kWh
▼ 21.7%vs. last year

Data current through June 2026 — the latest available from the U.S. EIA, which publishes monthly figures on a roughly two-month delay.

Average monthly bill

Full bill breakdown →
$98per month▲ 2.7% vs. the year before

15.28¢/kWh × 644 kWh a month. Residential revenue divided by residential customers, averaged over the 12 months to June 2026 — the 51st highest among the 50 states and DC.

Compared with the U.S. and neighboring states

Average monthly residential electricity bill, in US dollars
New Mexico
$98
U.S. average
$156
Texas
$174
Arizona
$161
Oklahoma
$142
Colorado
$110
Utah
$102

New Mexico is $57 a month below (-36.9%) the U.S. average of $156. Average monthly bill, July 2025 – June 2026.

How New Mexico makes its electricity

Fuel mix & 10-year trend →Power plants →
Renewable
53.4%
Carbon-free
53.4%
Largest source
Wind 37%
New Mexico electricity generation by source, July 2025 – June 2026
SourceShareGeneration
Natural gas24.9%10,890 GWh
Coal21.5%9,413 GWh
Nuclear0.0%0 GWh
Wind36.8%16,072 GWh
Solar16.4%7,175 GWh
Hydro0.0%0 GWh
Other0.4%171 GWh

43.7 TWh of net generation over the 12 months to June 2026. Generation, not consumption — power crosses state lines.

New Mexico electricity prices in context

New Mexico's residential electricity rate was 14.12¢/kWh in May 2026, placing it 44th among the 50 states and DC from the most expensive. That is 4.32¢/kWh below the US average of 18.44¢/kWh, a difference of 23.4%. Among bordering states, New Mexico undercuts Texas at 16.44¢/kWh and Colorado at 16.16¢/kWh, sits below Arizona at 15.23¢/kWh, and costs slightly more than Oklahoma at 13.38¢/kWh and Utah at 12.96¢/kWh.

Over five years since May 2021, the rate climbed 7.2% from 13.17¢/kWh. Over twenty years since May 2006, it rose 57.4% from 8.97¢/kWh. Since records began in January 2001, it has increased 76.9% from 7.98¢/kWh. The residential rate reached a high of 16.52¢/kWh in September 2025 and has never fallen below 7.41¢/kWh, which occurred in February 2002. Current year-over-year growth stands at negative 2.6%.

The average residential bill was $98 per month against a national average of $155, reflecting both the lower rate and usage of 642 kWh per month compared with the national average of 871 kWh. Commercial and industrial rates stood at 10.18¢/kWh and 4.45¢/kWh respectively.

Written from the EIA figures on this page, covering data through May 2026.

12-month trend

ResidentialCommercialIndustrial
3.5¢7.0¢10¢14¢17¢Jul '25Oct '25Jan '26Mar '26Jun '26ResidentialCommercialIndustrial

Price history since 2001

ResidentialCommercialIndustrial
2.9¢6.6¢10¢14¢18¢Jan '01May '07Oct '13Feb '20Jun '26ResidentialCommercialIndustrial

Average retail price in all three sectors, every month since January 2001.

Residential

Jan '01
7.98¢
Now
15.06¢
Change
▲ 88.7%
Range
7.41–16.52¢

Recent months

MonthResidentialCommercialIndustrial
June 202615.0610.824.62
May 202614.1210.184.45
April 202615.1511.086.27
March 202614.819.765.84
February 202615.0710.465.65
January 202614.7010.755.72
December 202514.6610.785.13
November 202515.6110.895.37
October 202514.9510.385.53
September 202516.5212.346.31
August 202516.1912.246.42
July 202515.8012.465.74

Prices in ¢/kWh.

Frequently asked questions

›How much does electricity cost in New Mexico?
Residential electricity in New Mexico costs 15.06¢ per kilowatt-hour as of June 2026, the 38th highest rate among the 50 states and DC. Commercial customers pay 10.82¢ and industrial customers 4.62¢ per kilowatt-hour.
›Why is electricity relatively cheap in New Mexico?
New Mexico's residential rate of 15.06¢/kWh is -15.9% versus the U.S. average of 17.92¢/kWh. What a household actually pays also depends on how much it uses: the typical New Mexico home consumes 644 kWh a month against a national average of 870 kWh, which is why its average bill comes to $98.
›Have electricity prices in New Mexico gone up?
Residential electricity in New Mexico has moved +88.7% since 2001, reaching 15.06¢/kWh in June 2026. Over the last year alone the change was +2.6%.
›Is electricity cheaper in states neighboring New Mexico?
Of the states bordering New Mexico, Utah has the lowest average monthly bill at $102 and Texas the highest at $174. New Mexico averages $98 a month, against a U.S. average of $156.