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New Mexico Electricity Prices

Average retail price by sector. Latest data: May 2026.

Residential
14.12¢ /kWh
▼ 2.6%vs. last year
Commercial
10.18¢ /kWh
▼ 6.2%vs. last year
Industrial
4.45¢ /kWh
▼ 25.8%vs. last year

Average monthly bill

Full bill breakdown →
$98per month▲ 2.4% vs. the year before

15.24¢/kWh × 642 kWh a month. Residential revenue divided by residential customers, averaged over the 12 months to May 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
$155
Texas
$173
Arizona
$160
Oklahoma
$141
Colorado
$109
Utah
$102

New Mexico is $58 a month below (-37.0%) the U.S. average of $155. Average monthly bill, June 2025 – May 2026.

How New Mexico makes its electricity

Fuel mix & 10-year trend →Power plants →
Renewable
52.7%
Carbon-free
52.7%
Largest source
Wind 36%
New Mexico electricity generation by source, June 2025 – May 2026
SourceShareGeneration
Natural gas25.2%10,758 GWh
Coal21.9%9,355 GWh
Nuclear0.0%0 GWh
Wind36.3%15,511 GWh
Solar16.2%6,933 GWh
Hydro0.0%0 GWh
Other0.4%173 GWh

42.7 TWh of net generation over the 12 months to May 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¢Jun '25Sep '25Dec '25Feb '26May '26ResidentialCommercialIndustrial

Residential history since 2001

6.7¢9.3¢12¢15¢17¢Jan '01May '07Sep '13Jan '20May '26
Jan '01
7.98¢
Now
14.12¢
Change
▲ 76.9%
Range
7.41–16.52¢

Recent months

MonthResidentialCommercialIndustrial
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
June 202514.6811.515.90

Prices in ¢/kWh.

Frequently asked questions

›How much does electricity cost in New Mexico?
Residential electricity in New Mexico costs 14.12¢ per kilowatt-hour as of May 2026, the 44th highest rate among the 50 states and DC. Commercial customers pay 10.18¢ and industrial customers 4.45¢ per kilowatt-hour.
›Why is electricity relatively cheap in New Mexico?
New Mexico's residential rate of 14.12¢/kWh is -20.8% versus the U.S. average of 17.84¢/kWh. What a household actually pays also depends on how much it uses: the typical New Mexico home consumes 642 kWh a month against a national average of 871 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 +76.9% since 2001, reaching 14.12¢/kWh in May 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 $173. New Mexico averages $98 a month, against a U.S. average of $155.