New Mexico Electricity Rates (2026)
15.1¢/kWhstate average
6.9% below national averageUtilities in New Mexico
Individual utility data for New Mexico is coming soon. The state average residential rate is 15.1¢/kWh.
Rate Outlook for New Mexico
New Mexico's average residential electricity rate is currently 15.1 cents/kWh. Under EIA's reference scenario, rates are projected to reach 17.8 cents/kWh by 2031 and 20.2 cents/kWh by 2036, a 34.0% change. Under the high oil price scenario, rates could reach 21.1 cents/kWh.
EIA projections for New Mexico vs. actual observed rates
Projected residential electricity rates for New Mexico (next 10 years)
| Year | Reference (¢/kWh) | High Price | Low Price |
|---|---|---|---|
| 2026 | 16.7 | 16.9 | 16.6 |
| 2027 | 16.1 | 16.3 | 16.1 |
| 2028 | 16.3 | 16.5 | 16.4 |
| 2029 | 16.8 | 16.9 | 16.8 |
| 2030 | 17.2 | 17.4 | 17.4 |
| 2031 | 17.8 | 18.1 | 18.1 |
| 2032 | 18.3 | 18.8 | 18.6 |
| 2033 | 19.1 | 19.6 | 19.2 |
| 2034 | 19.6 | 20.1 | 19.6 |
| 2035 | 20.0 | 20.6 | 19.9 |
| 2036 | 20.2 | 21.1 | 20.3 |
Data Sources: U.S. Energy Information Administration — Annual Energy Outlook (AEO2010, AEO2015, AEO2020, AEO2025) and Monthly Energy Review.
Methodology: State-level projections are derived by applying national rate trends from EIA's Annual Energy Outlook to New Mexico's current observed rate. EIA does not publish state-level projections.
Freshness: This data is checked weekly against EIA's open data APIs. The Monthly Energy Review updates monthly with observed rates. The Annual Energy Outlook publishes new projections annually.