Public Service Co of NM electricity rates

It is the dominant supplier in New Mexico, serving 492,945 residential customers, so its pricing effectively sets what the state average looks like. Its 15.57¢ per kilowatt-hour runs 10.3% above the New Mexico average of 14.12¢.

Its customers use very little electricity by national standards, 574 kilowatt-hours a month against 871 nationally. Dense housing, a mild climate or heating that runs on gas rather than electricity all push consumption down, and any of them can leave a household with a modest bill despite a high rate.

A shareholder-owned company whose rates are set by the state regulator, including an approved return on the capital it has invested. That matters because a bill is not only the cost of generating electricity: it also carries the cost of the network, and who owns that network changes how it is paid for.

In 2024 the average Public Service Co of NM customer went 279 minutes without electricity across 1.28 interruptions. The median across the 941 utilities that report this is 185 minutes.

That is worse than typical. Overhead lines through wooded or storm-exposed terrain are the usual explanation, and the fix is vegetation management and circuit automation, both of which are recovered through rates.

Public Service Co of NM offers time-of-use pricing to residential customers. 2,651 households were enrolled, about 0.5% of its residential base.

These plans are opt-in almost everywhere. They reward households that can move laundry, dishwashing, water heating or electric vehicle charging out of the late-afternoon peak, and they cost more than the standard rate for households that cannot. How to tell which group you are in.

44,953 residential customers had net-metered solar in 2024, totalling 281.1 megawatts. That works out to 91.2 installations per thousand customers, against a median of 8 across the utilities reporting it.

Adoption here is exceptionally high. That usually means some combination of a high retail rate worth displacing, strong sunshine and favourable export rules, and it tends to bring its own regulatory argument about who covers the fixed cost of the network. What exports are actually worth.