How do New Mexico Electricity Rates Compare?

In 2019 New Mexico adopted the Energy Transition Act which will force utilities to purchase more “renewable” electricity. Government policies like “renewable” mandates raise electricity prices and we expect that between now and 2030 New Mexico’s rates will rise dramatically.

The thing is that New Mexico ALREADY has a 20% mandate. It is no surprise that electricity in New Mexico is more expensive than in most states including our neighbors (we are 34th-most affordable) while states without such mandates (mostly in the South) dominate the low-cost list. The entire Choose Energy site is worth a look, but the interactive map below shows just how NM stacks up.

Below the rate comparison chart is a separate map illustrating which states have “renewable” mandates in place and their details. Of course we (and those who analyze energy costs) expect the Energy Transition Act will dramatically increase electricity rates in New Mexico over the next 10 years. We’ll be watching (and fighting to stop) this costly government regulation.

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One Reply to “How do New Mexico Electricity Rates Compare?”

  1. To repeat what has been stated before, PNM could care less how much it has to pay to generate electricity as all those costs are passed on to its customers who, by statute and regulation, must pay those costs plus a statutorily guaranteed rate of return. As electricity costs rise in NM, private businesses will have another excuse to leave the state or never come here in the first place. The death spiral quickens.

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