New Mexico electricity rates
90 residential tariffs from 29 utilities. Across the 10 filed since 2020, the median costs $0.1337 per kWh at 1,000 kWh a month once fixed charges are included — the cheapest $0.0782, the most expensive $0.2020.
$0.1337median $/kWh
29utilities
90tariffs on file
36%time-of-use
12%filed since 2020
Rate structures in New Mexico
| Structure | Tariffs |
|---|---|
| Flat | 40 |
| Time-of-use | 20 |
| Tiered | 13 |
| Time-of-use + tiered | 12 |
| Unclassified | 5 |
Lowest effective rates at 1,000 kWh/month
Ranked across the 10 tariffs filed since 2020 — 12% of those on file here. Older filings are excluded because they are systematically below what utilities now charge; see methodology. Effective rate includes fixed charges, and availability restrictions may apply.
| Utility | Tariff | Structure | Filed | $/kWh | Annual |
|---|---|---|---|---|---|
| El Paso Electric Co (New Mexico) | RS - TOD | Time-of-use | 2024 | $0.0782 | $938.56 |
| Southwestern Public Service Co | Residential Heating Service - Rate 39 | Time-of-use | 2026 | $0.0998 | $1,197.72 |
| Southwestern Public Service Co | R (Residential Service) - Rate 1 | Time-of-use | 2026 | $0.1150 | $1,379.56 |
| Southwestern Public Service Co | Residential Heating Service TOU - Rate 39 | Time-of-use | 2026 | $0.1283 | $1,539.21 |
| El Paso Electric Co | Residential Service - TOU (Alternative) | Time-of-use | 2025 | $0.1336 | $1,603.18 |
| El Paso Electric Co | Residential Service Low Income | Time-of-use + tiered | 2025 | $0.1339 | $1,606.36 |
| El Paso Electric Co | Residential Service | Time-of-use + tiered | 2025 | $0.1346 | $1,615.39 |
| Public Service Co of NM | 1A (Residential Whole House Electric Vehicle Rate Pilot) | Time-of-use + tiered | 2025 | $0.1438 | $1,725.57 |
| Public Service Co of NM | 1A (Residential Service) | Time-of-use + tiered | 2025 | $0.1768 | $2,121.38 |
| Public Service Co of NM | 1B (Residential Service Time-Of-Use) | Time-of-use | 2025 | $0.2020 | $2,424.51 |