How Much Is Electricity 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.
15.08¢
Residential
#22
Price Rank
49.4%
Renewable
| Residential Rate | 15.08¢/kWh |
| Commercial Rate | 11.23¢/kWh |
| Industrial Rate | 5.90¢/kWh |
| US Average (Residential) | 17.92¢/kWh |
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.