Electricity rates and average bill in New Mexico
In 2025, the average New Mexico household used 638 kWh a month and paid $95, an average price of 14.8¢ per kWh. That is the 31st highest price of the 50 states and DC (U.S.: 17.2¢).
Estimate your bill · Heat pump vs furnace · Water heater cost
Monthly residential electricity price in New Mexico
Source: EIA, average residential price per month (¢/kWh); last 12 months average 15.2¢.
Electric utilities in New Mexico
Average residential price, usage and bill of each utility in 2025 (utilities and providers with at least 1,000 homes). Find yours by ZIP code in the bill calculator.
Utilities
| Name | Homes | ¢/kWh | kWh / mo | Avg. bill |
|---|---|---|---|---|
| Public Service Co of NM Investor-owned utility | 496,914 | 16.4 | 555 | $91 |
| Southwestern Public Service Co Investor-owned utility | 101,203 | 12.9 | 973 | $125 |
| El Paso Electric Co Investor-owned utility | 97,258 | 10.3 | 718 | $74 |
| City of Farmington Municipal utility | 36,031 | 12.9 | 651 | $84 |
| Jemez Mountains Elec Coop, Inc Electric cooperative | 28,185 | 15.8 | 570 | $90 |
| Kit Carson Electric Coop, Inc Electric cooperative | 26,286 | 15.7 | 495 | $78 |
| Continental Divide El Coop Inc Electric cooperative | 20,474 | 16.9 | 592 | $100 |
| Central New Mexico El Coop, Inc Electric cooperative | 19,323 | 17.4 | 580 | $101 |
| Otero County Electric Coop Inc Electric cooperative | 16,517 | 19.6 | 560 | $110 |
| Farmers Electric Coop, Inc Electric cooperative | 10,310 | 13.7 | 819 | $112 |
| Navajo Tribal Utility Authority State | 9,768 | 16.4 | 521 | $86 |
| Los Alamos County Municipal utility | 8,395 | 14.8 | 630 | $93 |
| Lea County Electric Coop, Inc Electric cooperative | 7,292 | 11.0 | 1,076 | $119 |
| Central Valley Elec Coop, Inc Electric cooperative | 6,167 | 9.8 | 1,149 | $112 |
| Roosevelt County Elec Coop Inc Electric cooperative | 3,898 | 13.5 | 1,023 | $139 |
| Sunrun Inc. Behind the Meter | 3,302 | 17.1 | 628 | $107 |
| Springer Electric Coop, Inc Electric cooperative | 2,423 | 22.0 | 491 | $108 |
| Navopache Electric Coop, Inc Electric cooperative | 1,500 | 15.1 | 451 | $68 |
| Southwestern Electric Coop Inc Electric cooperative | 1,435 | 25.3 | 532 | $135 |
Heating: heat pump vs. gas in New Mexico
For a 2,000 sq ft home with average insulation at a typical New Mexico location (4,823 heating degree days, weather station Mountainair), heating with a high-efficiency heat pump costs about $890 a year at the state's average electricity price, compared with $572 for a 92% gas furnace, $1,686 for propane and $1,915 for heating oil. Run it with your ZIP code and your home.
Heating fuel prices
| Natural gas, residential, 2025 | $9.83/Mcf = $0.95/therm |
| Propane, 2025/26 winter average (U.S., no state survey) | $2.55/gal |
| Heating oil, 2025/26 winter average (U.S., no state survey) | $4.01/gal |