New Mexico electricity rates and average bill
In August 2026, the average residential price in New Mexico was 16.51¢ per kWh, higher than a year earlier (15.98¢).
Source: EIA Table 5.6.A (August 2026, preliminary) and EIA 2024 averages. Checked 2026-10-29.
New Mexico electricity prices, month by month
Show the data table
| Month | New Mexico (¢/kWh) | U.S. average (¢/kWh) |
|---|---|---|
| September 2024 | 15.04 | 16.82 |
| October 2024 | 14.08 | 17.09 |
| November 2024 | 13.98 | 16.85 |
| December 2024 | 14.30 | 16.27 |
| January 2025 | 13.65 | 15.92 |
| February 2025 | 13.98 | 16.40 |
| March 2025 | 14.38 | 17.03 |
| April 2025 | 14.14 | 17.20 |
| May 2025 | 14.28 | 17.33 |
| June 2025 | 14.50 | 17.44 |
| July 2025 | 15.61 | 17.39 |
| August 2025 | 15.98 | 17.57 |
| September 2025 | 16.26 | 18.05 |
| October 2025 | 14.72 | 17.95 |
| November 2025 | 15.38 | 17.77 |
| December 2025 | 14.47 | 17.11 |
| January 2026 | 14.70 | 17.45 |
| February 2026 | 15.07 | 17.65 |
| March 2026 | 14.81 | 18.60 |
| April 2026 | 15.15 | 18.86 |
| May 2026 | 14.12 | 18.44 |
| June 2026 | 15.06 | 18.35 |
| July 2026 | 16.09 | 18.31 |
| August 2026 | 16.51 | 18.16 |
So far in 2026 (8 months), New Mexico has averaged 15.19¢ per kWh, +4.3% compared with the same months of 2025 (14.57¢). Over the last 12 months the price was highest in August 2026 (16.51¢) and lowest in May 2026 (14.12¢).
Why is my electric bill so high in New Mexico?
- Price: New Mexico homes paid 16.51¢ per kWh in August 2026, +3.3% from August 2025 (+4.3% for 2026 so far). The U.S. average changed +3.4%.
- Season: the price itself moves through the year, from 14.12¢ in May to 16.51¢ in August, on top of the extra heating or cooling you use.
- Use: a typical New Mexico home uses about 654 kWh a month (2024). Compare your bill with that, and with the same month last year rather than last month.
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Average electric bill in New Mexico
A typical New Mexico home used 654 kWh a month in 2024 (U.S.: 863 kWh). At the August 2026 price that is about $108 a month, compared with $105 at the August 2025 price, an increase of $3 for the same use. EIA's actual 2024 average bill was $92.88.
What common appliances cost to run in New Mexico
At 16.51¢ per kWh. Wattages are typical values from the U.S. Department of Energy.
| Appliance | Watts | Hours/day | Per month |
|---|---|---|---|
| Portable space heater | 1,500 | 8 | $59.44 |
| Dehumidifier | 785 | 12 | $46.66 |
| Clothes dryer | 3,400 | 1 | $16.84 |
| Electric blanket (double) | 100 | 8 | $3.96 |
| Ceiling fan | 120 | 8 | $4.75 |
| Hair dryer | 1,500 | 0.25 | $1.86 |
Calculate any appliance · Space heater cost in New Mexico
Heating costs in New Mexico: heat pump vs gas, propane and oil
The typical gas-heated New Mexico home needs about 33 million Btu of heat a year. At current prices the cheapest way to provide it is a natural gas furnace, at about $364 a year. A heat pump (HSPF2 7.8) beats a 95% gas furnace here when electricity costs less than 8.62¢ per kWh; the 12-month average in New Mexico is 15.20¢.
| System | Fuel price | Per year |
|---|---|---|
| Natural gas furnace | $1.05/therm | $364 |
| Heat pump | 15.20¢/kWh | $641 |
| Propane furnace | $3.03/gal (Gulf Coast average) | $1,146 |
| Electric furnace or baseboard | 15.20¢/kWh | $1,465 |
| Heating oil furnace | $6.23/gal (U.S. average) | $1,742 |
Compare with your own fuel use and prices →