Is electricity expensive in New Mexico?

New Mexico's residential average of 15.1¢/kWh is 18% below the U.S. average of 18.3¢/kWh, ranking 14 of 51 jurisdictions (1 = cheapest).

What's the cheapest electric water heater to run in New Mexico?

Among currently certified models, the Eco-Logical OMNI-50HP1-1A costs the least at about $103 a year at New Mexico rates (681 kWh/yr).

How does New Mexico compare with other states?

The same median electric water heater costs $159 a year in Nevada (the cheapest state) and $638 in Hawaii (the priciest). New Mexico sits at $182.

Data through June 2026

Cost to run · New Mexico · 15.1¢/kWh residential average

How much does it cost to run an electric water heater in New Mexico?

$182/yr · median certified model

New Mexico's 15.1¢/kWh rate undercuts the national average by 18%, so the typical certified electric water heater costs roughly $182 a year here instead of $222.

New Mexico ranks 14 of 51 jurisdictions for electric water heater running costs — solidly mid-table. Model choice matters as much as geography: at New Mexico rates the most efficient certified model (Eco-Logical OMNI-50HP1-1A) costs $103 a year while the most power-hungry (Smart Solar SSG2-ES 120) costs $262 — a spread of $160 every year. For reference, the national extremes are Nevada (13.1¢/kWh) and Hawaii (52.7¢/kWh); the same median electric water heater would cost $159 and $638 a year there.

New Mexico

$182

US average

$222

Nevada

$159

Hawaii

$638

Median certified electric water heater (1,210 kWh/yr) per year, at each rate

The cheapest water heaters (electric) to run at New Mexico rates

Top 10 by certified kWh, priced at 15.1¢/kWh
#	Model	kWh/yr	$/yr in NM
1	Eco-Logical OMNI-50HP1-1A	681	$103
2	GE Profile PF40S10FPY01	724	$109
3	Eco-Logical OMNI-50HP2-1A	769	$116
4	GE Profile PH40S10BPY01	773	$116
5	Friedrich PROH40 T0 FD120-M	780	$117
6	Friedrich PROH40 T0 FD120-MSO	780	$117
7	Rheem PROPH40 T0 RH120-M	780	$117
8	Rheem PROPH40 T0 RH120-MSO	780	$117
9	Rheem XE40T10HM00U0	780	$117
10	Rheem XE40T10HMS00U0	780	$117

Price any model at New Mexico rates

Your rate, your numbers

Annual use (kWh)

Electricity rate

Per day: 50¢
Per month: $15.19
Per year: $182

1,210 kWh/yr × 15.1¢/kWh = $182/yr

Prefilled with the median certified electric water heater (1,210 kWh/yr). Every model page on this site carries its exact certified figure.

Questions, answered with the data

How much does it cost to run an electric water heater in New Mexico?: About $182 a year for the median ENERGY STAR certified electric water heater, at New Mexico's average residential rate of 15.1¢/kWh — that's $15.19 a month.
Is electricity expensive in New Mexico?: New Mexico's residential average of 15.1¢/kWh is 18% below the U.S. average of 18.3¢/kWh, ranking 14 of 51 jurisdictions (1 = cheapest).
What's the cheapest electric water heater to run in New Mexico?: Among currently certified models, the Eco-Logical OMNI-50HP1-1A costs the least at about $103 a year at New Mexico rates (681 kWh/yr).
How does New Mexico compare with other states?: The same median electric water heater costs $159 a year in Nevada (the cheapest state) and $638 in Hawaii (the priciest). New Mexico sits at $182.

Keep digging

Rate source: US EIA, average residential price of electricity, see methodology.