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PNM electric rates

Updated October 7, 2026 · Source: EIA Form 861 (2024)

Investor-owned utility serving 492,945 homes in New Mexico.

Your rate

15.57¢per kWh, average residential rate 5% lower than the U.S. average (16.4¢)

$89average monthly bill$1,073 a year

574kWh used per month, average home

+11%rate change since 2020U.S. average: +28%

Estimate your bill

Electricity you use each month (kWh)

It's on your bill, usually near the top. Starting at 574 kWh, the average for PNM homes.

kWh

$89 a month

$12 fixed charge + 13.5¢ × 574 kWh

This is an estimate. Uses the EIA average rate with a nominal $12 fixed charge; real tariffs have tiers, time-of-use pricing and riders. Your bill also includes taxes and fuel adjustments that change month to month.

Rate cases

No rate case on file for PNM right now. We check regulator dockets weekly; last check October 7, 2026. Know of one?

Rate history

PNM's average rate is up 11% since 2020, versus +28% for the U.S. average.

Average residential revenue per kWh, EIA-861. Includes delivery and, where the utility sells it, supply.

Rebates for heat pumps, batteries and EV chargers

We haven't found utility-level rebates for PNM yet. Check New Mexico programs or read what's left after the federal credits ended.

About PNM

Legal name: Public Service Co of NM (TXNM Energy)
Ownership: Investor Owned
Homes served: 492,945 residential customers (2024)
Grid operator: PNM
Retail choice: No — one bundled rate
Data: EIA-861 2024, released October 7, 2026; rate cases checked October 7, 2026

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