HomeWattCost

PNM (Public Service Company of New Mexico) rates

PNM has one residential plan modelled here. A typical New Mexico home using 646 kWh a month pays about $111 a month.

Investor-owned 492,945 residential customers (EIA-861, 2024) Tariffs checked September 28, 2026

Typical all-in price1A

01234567890123456789.0123456789¢/kWh
1A$111/mo

Residential plans

PlanTypeFixed/moJuly pricesJanuary pricesJuly weekday windows
1A
Residential Service		 Tiered $12.79 13.7¢ 0–450 kWh · 19.3¢ 450–900 kWh · 24.2¢ over 900 kWh 13.7¢ 0–450 kWh · 17.4¢ 450–900 kWh · 21.3¢ over 900 kWh None

Charging an EV on PNM

1,000 miles a month in a Tesla Model Y Long Range AWD (275 kWh from the wall, EPA 27.5 kWh/100 mi) at 7.2 kW, added to a typical New Mexico home’s use, on each plan’s cheapest start hour versus plugging in at 6 pm. Averaged over the year.

PlanBest startCharging, best startCharging from 6 pmWhole bill with EV
1AAny$52/mo$52/mo$163/mo

With an EV charged at its best hour, the cheapest plan overall is 1A. Compare plans on your own usage.

How PNM’s plans work

1A (Residential Service). In July the first 450 kWh a month cost 13.7¢ each; then 19.3¢ above 450 kWh a month, then 24.2¢ above 900 kWh a month. An average New Mexico home (942 kWh in July) goes past the first tier, so extra load such as an EV is priced higher. Fixed charge: $12.79 a month.

Prices on this page are all-in per kWh, before taxes: the totals recorded in the OpenEI Utility Rate Database, base rates plus the riders and supply charges it includes. Your bill shows them as separate lines, and riders can change between tariff revisions.

As a cross-check, PNM billed its residential customers an average of 15.57¢ per kWh in 2024 (revenue ÷ sales, EIA-861). A plan taken from URDB is shown only if its all-in price is consistent with that figure, adjusted for New Mexico’s price change since.

Sources for each plan

PlanEffectiveSeasonsSolar exportsSource and status
1A
URDB: 1A (Residential Service)		 November 15, 2025 Summer pricing Jun–Aug; winter Sep–May Not recorded in URDB URDB record, not yet checked against the tariff
URDB record · Tariff document

Plans marked “Checked” were transcribed from the utility’s current tariff and rider sheets, all charges included, and are re-checked on the date shown in each file. Other plans come from the OpenEI U.S. Utility Rate Database (CC BY 4.0) and have not yet been checked line by line against the utility’s tariff. Always confirm the current rates on your utility’s website before switching plans.

Run the numbers on PNM

EV charging cost Which plan is cheaper Best time to run things Appliance cost Solar payback Heat pump vs gas