Electricity cost in New Mexico
Electricity in New Mexico costs 14.2 cents per kWh (EIA, 2024), 14% less than the U.S. average. The average home bill is about $93 a month.
New Mexico vs the U.S.
Electricity in New Mexico costs 14% less than the national average of 16.48 cents per kWh. Homes there use 24% less than the national average of 863 kWh a month, so the typical bill of $93 is 35% less than the U.S. typical bill of $142 (our calculation). Prices have kept rising since: the national average reached 18.31 cents in July 2026.
| State | ¢ per kWh | Avg bill / month | Rank |
|---|---|---|---|
| Florida | 14.14 | $156 | 19 |
| Kansas | 14.15 | $124 | 20 |
| New Mexico | 14.20 | $93 | 21 |
| South Carolina | 14.23 | $149 | 22 |
| Virginia | 14.41 | $149 | 23 |
| U.S. average | 16.48 | $142 | - |
Source: U.S. Energy Information Administration, 2024 Average Monthly Bill, Residential (Electric Sales, Revenue, and Average Price, Table 5.a), released Oct 7, 2025. Bills and EV costs are our calculation (price × use; 310 kWh per 1,000 miles from fueleconomy.gov). Your utility's rates and fees may differ.
Ways to use this number
Compare it with the rate on your own bill, check what a new heat pump or furnace would cost to run before an HVAC replacement, or see whether an EV beats gas in New Mexico. For every monthly bill in one place, read our average utility bill guide or grab the free monthly budget planner.
Common questions
How much is electricity in New Mexico?
Homes in New Mexico paid an average of 14.2 cents per kWh in 2024, per the U.S. Energy Information Administration. That ranks 21 of 51 (1 = cheapest).
What is the average electric bill in New Mexico?
With average use of 654 kWh a month, the bill comes to about $93 a month, or $1,114 a year (our calculation from EIA data).
How much does it cost to charge an EV in New Mexico?
About $44 per 1,000 miles charging at home, using 31 kWh per 100 miles (2024 Chevrolet Equinox EV, fueleconomy.gov) and the New Mexico average price (our calculation).