Electric companies in New Mexico
| Company | Homes served | Avg. bill / month | Avg. rate | Bill covers |
|---|---|---|---|---|
| PNM | 492,945 | $89 | 15.6¢ | Full bill |
| Xcel Energy (Southwestern Public Service) | 100,540 | $119 | 12.0¢ | Full bill |
| El Paso Electric | 94,760 | $75 | 10.2¢ | Full bill |
One regulated utility serves each area
In New Mexico, your electric company is set by where you live. The state regulator approves its rates, so comparing companies here mostly matters when you move.
How we calculated this
Figures come from the U.S. Energy Information Administration, Form EIA-861 (2024 data), for companies with 50,000 or more residential customers. The average bill is residential revenue divided by customers and 12 months; the rate is revenue divided by kilowatt-hours sold. Your own bill depends on your usage, plan and season. More sections for New Mexico (rent, gas and more) are added as each data set goes live.
Source: U.S. EIA, Form EIA-861. Last verified November 2026.