New Mexico Utility Cost Calculator

Wind overtook coal

New Mexico’s electricity changed faster than almost any state’s: coal made 63% of in-state generation in 2014 and 21% in 2024, the third-largest decline in the country, while wind rose to 38% — now the largest source — and solar to 11%. The biggest single plant is still Four Corners, a coal station operated by Arizona Public Service. New Mexico generated 40 TWh in 2024 against 30 TWh of sales.

PNM, SPS and El Paso Electric

Public Service Company of New Mexico sold 3.4 TWh to homes in 2024, Southwestern Public Service 1.2 TWh and El Paso Electric 0.8 TWh; all are regulated by the New Mexico Public Regulation Commission. Twenty cooperatives with about 218,000 accounts made 16% of retail sales, and the City of Farmington runs the largest municipal system.

Homes use relatively little electricity — about 648 kWh a month — because 76% heat with natural gas. The summer bill is still about twice the spring one: $151.51 in July 2026 against $73.61 in April 2026. About 61,000 homes had net-metered solar, roughly one in sixteen residential meters, while only 28% of meters were advanced meters.

Inexpensive gas

New Mexico’s 2025 residential gas price of $0.964 per therm was among the five cheapest in the country, and a gas account used about 593 therms in 2024. EIA does not survey heating oil or propane prices in New Mexico; propane users averaged 446 gallons a year in the 2020 survey. The Income Support Division of the New Mexico Health Care Authority handles energy assistance.