New Mexico households paid an average of 16.51¢ per kWh in August 2026, 9% below the US average and +3.3% on a year earlier. That ranks #25 of 51, most expensive first.
Source EIA, residential retail priceLatest month August 2026
Average residential priceNM
16.51¢/kWh
Typical bill
$99/mo
Average use
648kWh
EV, 1,000 mi
$42/mo
Thirteen months of prices
Average residential price by month, ¢/kWh (EIA). Highest 16.51¢ in August 2026, lowest 14.12¢ in May 2026. Download the data (CSV)
Utilities and rate plans
Each utility’s current residential tariffs, transcribed from its tariff sheets, with periods, tiers, fixed charge and a typical bill. Customer counts from EIA-861 (2025).
Each row prices a utility’s standard plan for a typical home. The New Mexico average of 15.31¢/kWh (EIA, 12 months) is what every household in the state actually paid, including utilities not modeled here and discounted low-income bills, so it can sit below every row.
New Mexico service area only (Doña Ana, Sierra, Otero and Luna counties); El Paso Electric's Texas customers have different tariffs.
Against the national average and states with similar prices
Average residential ¢/kWh, August 2026 (EIA).
New Mexico16.51¢
United States18.16¢
Alabama16.33¢
West Virginia16.31¢
Missouri16.02¢
Indiana17.02¢
Charging an electric car in New Mexico
Driving a Tesla Model Y Long Range AWD 1,000 miles a month takes 275 kWh from the wall (EPA 27.5 kWh/100 mi), about $42 at the state average. A 25.5 mpg gasoline car covering the same distance at $3.81 a gallon (Gulf Coast (PADD 3) average, October 2026) costs about $149.
On a time-of-use plan, charging in the cheapest hours beats the flat average. The table shows, for each utility, the plan with the lowest total bill for a typical New Mexico home that adds 1,000 EV miles a month, averaged over the year, and what plugging in at 6 pm would cost instead.
Over the last 12 months the average price was 15.31¢ per kWh and the average home used 648 kWh a month, so a typical New Mexico household spent about $99 a month on electricity, or $1,191 a year. Use is 26% below the US average of 875 kWh a month, peaking in August at 983 kWh.
The state average hides the real spread. Utilities in the same state charge different prices, and on a time-of-use plan the same kWh costs more in the peak hours than off-peak; each utility page shows by how much. Open PNM’s page to see its plans, prices by hour and fixed charge, or run the calculators below with New Mexico preloaded.
Natural gas for homes averaged $0.99 per therm over the 12 months to December 2025 (EIA, all charges included), and a typical gas-heated home uses about 439 therms a year for heating. The heat pump calculator compares that with electric heating on your plan.
A south-facing, 20° rooftop array in New Mexico produces about 1,801 kWh per installed kW a year (NREL PVWatts at the state’s population center). What that is worth depends on your utility’s export rule, shown on each utility’s page.
New Mexico electricity: common questions
How much does electricity cost in New Mexico?
Homes in New Mexico paid an average of 16.51¢ per kWh in August 2026, against 18.16¢ for the US, which ranks the state #25 of 51 from most expensive. Over the last 12 months the average was 15.31¢. These are EIA averages of what households actually paid, fixed charges included; your utility and plan set your own price.
What is the average electric bill in New Mexico?
About $99 a month ($1,191 a year): the average New Mexico home used 648 kWh a month over the last 12 months at an average 15.31¢/kWh. Use peaks in August, at 983 kWh.
Are electricity prices going up in New Mexico?
New Mexico's average residential price was 16.51¢/kWh in August 2026, 3.3% higher than a year earlier. Over the last ten years the 12-month average has changed by +2.5% a year, against +3.7% a year for the US.
How much does it cost to charge an electric car in New Mexico?
Driving 1,000 miles a month in a Tesla Model Y Long Range AWD takes 275 kWh from the wall, about $42 at the state's average home price, against about $149 of gasoline for a 25.5 mpg car. On a time-of-use plan, charging overnight can cost less than that.
Do New Mexico utilities offer time-of-use plans?
Yes. El Paso Electric offers Rate 01 TOD (peak 3 pm–7 pm on summer weekdays). Each utility's page shows every period and price.