New Mexico Electricity Prices

Relatively, yes — 14.12¢ per kilowatt-hour in May 2026, 8th-cheapest of 51 and 27.3% below the national benchmark.

At New Mexico's May 2026 average of 14.12¢/kWh, 10,500 kWh of annual use works out to $1,483 a year — around $124 a month. Running the same 10,500 kWh calculation at the May 2026 national benchmark rate gives $2,039 — a $556 gap between the two published averages, less for New Mexico, not a bill either way.

Over the full EIA series the New Mexico jurisdiction average has risen 77% since January 2001, from 7.98¢ to 14.12¢ in May 2026 — a compound 2.3% per year. Month-to-month movement has been about typical for a reporting jurisdiction.

September 2025, at 16.52¢ per kilowatt-hour. The May 2026 reading of 14.12¢ sits 14.5% below that peak. The lowest monthly average on record was 7.41¢ in February 2002.

August. Measured over the 25 complete calendar years the EIA series covers for New Mexico, 2001 through 2025, August runs highest relative to its own year and January runs lowest — a swing of roughly 13.0 percentage points.

Among New Mexico and its land-border neighbours in May 2026, Oklahoma posts the lowest average at 13.38¢ and Texas the highest at 16.44¢. New Mexico ranks 2nd of 5 in the group, at 14.12¢.

Almost certainly not exactly, and this is the one caveat that governs every figure on this page. The published value is the EIA residential average across every utility and residential rate class in New Mexico for May 2026 — a benchmark, never a billed amount. Even the jurisdiction figure is not one number — across the trailing year it moved between 14.12¢ in May 2026 and 16.52¢ in September 2025. Your own rate depends on your utility, tariff, usage tier, time-of-use schedule, and fixed monthly charges, none of which this index models. Read your bill for the rate that applies to you.