New Mexico electricity and natural gas rates
Electricity
14.12¢
per kWh
Natural gas
$1.15
per therm
Residential sector, US Energy Information Administration, 2026-05. Updated monthly. New Mexico last reported gas in 2026-03, so that figure is older than the electricity one.
How New Mexico compares
At 14.12¢ per kWh, New Mexico is below the national average of 19.41¢, making it the 8th cheapest of the 51 states we track.
What a typical New Mexico household uses
Electricity a month
643 kWh
Bill a month
$98
Households in New Mexico use 25% less electricity than the national average and pay 34% less than average. Light use and a below-average rate together, which is the cheapest position a state can be in. The climate is fairly balanced — 4,200 heating degree days against 1,600 cooling ones — so neither season dominates the bill.
Averaged over twelve months across 929,368 residential accounts in New Mexico. Source: EIA.
What this means for heating
New Mexico sees around 100 freezing nights a year. Whether a heat pump beats a furnace here depends on the gap between those two prices above — not on the equipment.
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