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Energy Profile

Electricity Cost in New Mexico

The residential electricity rate in New Mexico is 15.08¢ per kilowatt-hour (kWh), ranking #22 cheapest among all 51 US states. The national average is 17.92¢/kWh, making New Mexico 16% below average.

Reviewed by EnergyProfile Editorial Team · Updated

15.08¢

Residential

#22

Price Rank

49.4%

Renewable

Residential Rate15.08¢/kWh
Commercial Rate11.23¢/kWh
Industrial Rate5.90¢/kWh
US Average (Residential)17.92¢/kWh
Full New Mexico Energy Profile →Estimate Your Bill

At 15.08¢/kWh, residential electricity in New Mexico is 16% below the U.S. average of 17.92¢/kWh — the 22nd cheapest residential rate among 51 states and territories tracked.

Across rate classes, commercial customers pay 11.23¢/kWh and industrial customers 5.90¢/kWh — a 5.33¢/kWh gap that reflects the volume discounts large industrial loads receive. Renewables account for 49.4% of generation in New Mexico (11th highest nationally). The largest single source is wind at 38.1%, followed by natural gas at 29.3%.

In 2024, New Mexico generated about 39,697 GWh of electricity in total.

Source: U.S. Energy Information Administration, 2026.