Utilities listed
20
New Mexico, 2025
Homes counted
946 thousand
Residential customers
Average price
14.85 cents
Per kWh, New Mexico
Average bill
$94.65
Per month
Utilities serving New Mexico homes
| Utility | Type | Homes in NM | Cents per kWh | Monthly bill |
|---|---|---|---|---|
| Public Service Company of New Mexico (PNM) | Investor-owned | 496,914 | 16.35 | $90.82 |
| Southwestern Public Service | Investor-owned | 101,203 | 13.59 | $128.85 |
| El Paso Electric | Investor-owned | 97,258 | 13.01 | $90.18 |
| City of Farmington | Municipal | 36,031 | 12.95 | $84.33 |
| Jemez Mountains Electric Cooperative | Cooperative | 28,185 | 15.76 | $89.84 |
| Kit Carson Electric Cooperative | Cooperative | 26,286 | 15.68 | $77.55 |
| Continental Divide Electric Cooperative | Cooperative | 20,474 | 16.87 | $99.89 |
| Central New Mexico Electric Cooperative | Cooperative | 19,323 | 17.39 | $100.83 |
| Otero County Electric Cooperative | Cooperative | 16,517 | 19.56 | $109.54 |
| Farmers Electric Cooperative | Cooperative | 10,310 | 13.68 | $111.99 |
| Navajo Tribal Utility Authority | State-owned | 9,768 | 16.41 | $82.31 |
| Los Alamos County | Municipal | 8,395 | 14.79 | $93.19 |
| Lea County Electric Cooperative | Cooperative | 7,292 | 10.93 | $121.41 |
| Central Valley Electric Cooperative | Cooperative | 6,167 | 9.79 | $112.39 |
| Roosevelt County Electric Cooperative | Cooperative | 3,898 | 13.54 | $138.60 |
| Springer Electric Cooperative | Cooperative | 2,423 | 21.96 | $107.79 |
| Navopache Electric Cooperative | Cooperative | 1,500 | 13.52 | $80.30 |
| Southwestern Electric Cooperative | Cooperative | 1,435 | 25.26 | $135.26 |
| Rio Grande Electric Cooperative | Cooperative | 232 | 18.29 | $166.72 |
| Tri-County Electric Cooperative | Cooperative | 7 | 15.95 | $111.54 |
Source: U.S. Energy Information Administration, Form EIA-861 (final 2025 data). Homes in NM counts only the customers in this state. Price and bill cover the utility's whole territory and bundled customers only. Delivery only means the utility carries power but does not sell it.
Who owns New Mexico's electric companies
| Type | Utilities | Homes in NM | Share of homes |
|---|---|---|---|
| Investor-owned utility | 3 | 695,375 | 77.8% |
| Municipal utility | 2 | 44,426 | 5.0% |
| Electric cooperative | 14 | 144,049 | 16.1% |
| State-owned utility | 1 | 9,768 | 1.1% |
Each type is run differently. An investor-owned company answers to shareholders and a state commission. A municipal utility answers to a city. A cooperative answers to its members. That is why the same state can have very different prices and service from one address to the next.
What New Mexico utilities charge, by type
| Type | Utilities with a price | Average cents per kWh |
|---|---|---|
| Investor-owned utility | 3 | 14.27 |
| Municipal utility | 2 | 13.29 |
| Electric cooperative | 14 | 15.25 |
| State-owned utility | 1 | 16.41 |
Source: U.S. Energy Information Administration, Form EIA-861 (final 2025 data). Customer-weighted average of the prices utilities report for bundled residential service. It leaves out delivery-only customers and retail providers.
Outside the investor-owned companies, the largest municipal utility is City of Farmington (36,031 homes), and the largest electric cooperative is Jemez Mountains Electric Cooperative (28,185 homes).
Price differences between types come from costs, customer density and the way each type is financed, so a lower average does not decide which is better for your home.
Utilities with full profiles
These New Mexico utilities are among the 600 largest in the country, and each has a profile with its service area, reliability and rate options.
- ProfilePNM497 thousand homes. Investor-owned.Open
- ProfileSouthwestern Public Service325 thousand homes. Investor-owned.Open
- ProfileEl Paso Electric418 thousand homes. Investor-owned.Open
- ProfileCity of Farmington36 thousand homes. Municipal.Open
- ProfileJemez Mountains Electric Cooperative28 thousand homes. Cooperative.Open
- ProfileKit Carson Electric Cooperative26 thousand homes. Cooperative.Open
- ProfileContinental Divide Electric Cooperative20 thousand homes. Cooperative.Open
- ProfileCentral New Mexico Electric Cooperative19 thousand homes. Cooperative.Open
- ProfileNavajo Tribal Utility Authority39 thousand homes. State-owned.Open
How New Mexico compares
The statewide average residential price is 14.85 cents per kWh and the average bill is $94.65 a month. See the full breakdown, rankings and neighbors on the New Mexico electricity rates page. Among utilities with at least 10,000 bundled residential customers, average prices ran from 12.95 cents at City of Farmington to 19.56 cents at Otero County Electric Cooperative.
Can you switch electric companies in New Mexico?
Most households cannot choose. The company that serves your address is set by where you live. Regulation and complaints go through the New Mexico Public Regulation Commission.
Find yours
Not sure which one serves you?
New Mexico electric company questions
Who is the largest electric company in New Mexico?
Public Service Company of New Mexico (PNM) serves the most residential customers in New Mexico, about 497 thousand homes in 2025 (EIA Form EIA-861).
How many electric utilities are there in New Mexico?
EIA lists 20 electric utilities with residential customers in New Mexico for 2025. Most households are served by a handful of the largest ones.
Which New Mexico utility has the lowest average price?
Among New Mexico utilities with at least 10,000 bundled residential customers, City of Farmington had the lowest average residential price in 2025 at 12.95 cents per kWh and Otero County Electric Cooperative had the highest at 19.56 cents. Prices reflect the utility's costs and customer mix, so a lower price does not mean better service.
Can I choose my electric company in New Mexico?
Usually not. Households in New Mexico buy electricity from the utility, municipal system or cooperative that serves their address.