New Mexico
Electricity costs 15.08¢/kWh residential, ranking #22 cheapest in the US. 49.4% renewable energy.
15.08¢
Residential Rate
#22
Price Rank (Cheapest)
49.4%
Renewable Energy
#11
Renewable Rank
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Electricity Rates
| Residential | 15.08¢/kWh |
| Commercial | 11.23¢/kWh |
| Industrial | 5.90¢/kWh |
| National Average | 17.92¢/kWh |
Electricity Generation Mix
Wind
38.1%
Natural Gas
29.3%
Coal
21.2%
Solar
10.8%
Hydro
0.4%
Other
0.1%
Frequently Asked Questions
The residential electricity rate in New Mexico is 15.08¢ per kilowatt-hour, ranking #22 cheapest out of 51 states. The national average is 17.92¢/kWh, making New Mexico 16% below average.
49.4% of New Mexico's electricity comes from renewable sources, ranking #11 among all states. The largest generation source is Wind at 38.1%.
New Mexico's residential rate of 15.08¢/kWh is 16% below the national average of 17.92¢/kWh. Commercial rates are 11.23¢/kWh and industrial rates are 5.90¢/kWh.
Related State Energy Profiles
14.56¢/kWh residential · 52.0% renewable
14.73¢/kWh residential · 12.5% renewable
14.96¢/kWh residential · 7.1% renewable
15.24¢/kWh residential · 8.2% renewable
15.28¢/kWh residential · 11.4% renewable
22.92¢/kWh residential · 99.8% renewable
Electricity rates from EIA retail sales data. Prices in cents per kilowatt-hour. Generation mix from EIA electric power operational data. Rankings based on residential rates.
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.