EV Charging Cost in New Mexico: 14.81¢ per kWh

▼ 23% below US average
Residential electricity in New Mexico costs 14.81¢/kWh (March 2026), the 15th cheapest of all 50 states and DC. A full 60 kWh EV charge costs about $8.89 — roughly 24% more than North Dakota, the cheapest state at 11.95¢/kWh.

Latest EIA data: March 2026 Published May 24, 2026 Source: U.S. Energy Information Administration

14.81¢
per kWh ▼ 1.73% MoM
$8.89
Full 60 kWh charge
4.2¢
Cost per mile
$1,172
Annual savings vs gas*

New Mexico Electricity Price Trend (24 Months)

13¢ 15¢ 16¢ 18¢ 20¢ Apr '24Oct '24Apr '25Oct '25Mar '26 14.81¢
New Mexico US average

Charging Cost by Battery Size in New Mexico

Battery Example EV Est. range Full charge (0–100%)
40 kWh Nissan Leaf 140 mi $5.92
60 kWh Typical EV 210 mi $8.89
80 kWh Tesla Model 3 LR 280 mi $11.85
100 kWh Tesla Model S 350 mi $14.81

Estimated range and charge cost assume 3.5 mi/kWh efficiency at New Mexico's 14.81¢/kWh residential rate. *Annual savings assumes 1,000 miles/month vs a 25 MPG gas car at $3.50/gallon.

Over the past year, electricity in New Mexico has increased 0.2%, from 14.78¢ to 14.81¢ per kWh.

Compare New Mexico to Neighboring States

Arizona
15.59¢/kWh
5% more expensive
Colorado
16.74¢/kWh
13% more expensive
Oklahoma
13.56¢/kWh
8% cheaper
Texas
16.39¢/kWh
11% more expensive
Utah
13.17¢/kWh
11% cheaper

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Frequently Asked Questions

How much does electricity cost in New Mexico?

Residential electricity in New Mexico costs 14.81¢/kWh as of March 2026, according to the U.S. Energy Information Administration. That is 23% below the US average of 19.16¢/kWh, ranking New Mexico the 15th cheapest of all 50 states and DC.

How much does it cost to charge an EV in New Mexico?

At 14.81¢/kWh, a full 0–100% charge costs about $5.92 for a 40 kWh battery, $8.89 for a typical 60 kWh EV, and $14.81 for a 100 kWh battery. That works out to roughly 4.2¢ per mile of driving.

Is it cheaper to drive an EV than a gas car in New Mexico?

Yes. Driving 1,000 miles a month on electricity in New Mexico costs about $508 a year, versus roughly $1,680 for a 25 MPG gas car at $3.50/gallon — an annual saving of about $1,172.

Electricity price from the U.S. Energy Information Administration (Form EIA-861), March 2026.