Is Public Service Co of NM cheaper than El Paso Electric Co?

No — in 2024 Public Service Co of NM customers averaged 15.57 cents/kWh versus 10.16 for El Paso Electric Co (EIA-861). El Paso Electric Co was cheaper by 5.41 cents, about $584 per year at 10,800 kWh.

Can I switch from Public Service Co of NM to El Paso Electric Co?

No — distribution territories are exclusive and set by address; you cannot pick between the two wires companies. New Mexico has no residential supplier shopping either; rates are set in utility-commission proceedings.

Why is Public Service Co of NM more expensive than El Paso Electric Co?

EIA-861 averages reflect everything customers actually paid — supply costs, delivery rates, riders, and surcharges across each territory. Differences in generation mix, grid investment, storm costs, and customer density between Public Service Co of NM and El Paso Electric territory all feed the 5.41-cent gap.

Public Service Co of NM vs El Paso Electric Co: Which Is Cheaper? (New Mexico, 2024)

El Paso Electric Co customers paid less: an average 10.16¢/kWh in 2024 versus 15.57¢/kWh at Public Service Co of NM (EIA-861) — a gap of 5.41¢/kWh, worth about $584 per year at typical usage (10,800 kWh/yr). Their territories meet in 3 NM counties (Dona Ana, Luna, Otero). You cannot switch wires companies — the territory is set by your address.

Side by side (NM, EIA-861)

Public Service Co of NM vs El Paso Electric Co — residential averages from federal EIA-861 filings
Metric	Public Service Co of NM	El Paso Electric Co
2024 average price, ¢/kWh	15.57	10.16
2023 average price, ¢/kWh	15.21	9.61
Annual cost at 10,800 kWh, $/yr	$1,682	$1,097
Residential customers (2024)	492,945	94,760
Ownership	Investor-owned	Investor-owned
Counties served in NM	19	4

Average price = residential revenue ÷ sales (bundled service): the all-in price customers actually paid, including supply, delivery and riders. Profiles: Public Service Co of NM · El Paso Electric Co · New Mexico overview.

Where the territories meet

Both utilities file EIA-861 service territory in: Dona Ana · Luna · Otero counties (NM, 2024).

Adjoining or overlapping territory in a county does not mean households there can pick between the two — service maps are parcel-level and fixed. The county overlap mainly matters when choosing where to live or comparing town-level costs.

Can you actually choose between them?

No — not for delivery. Distribution territories are exclusive and set by address; Public Service Co of NM and El Paso Electric Co do not compete for the same meters. New Mexico is a regulated retail market — there is no residential supplier shopping; rates are set in utility-commission proceedings (nm-prc.org). The price gap above mainly matters when choosing where to live, comparing towns, or benchmarking your bill.

Questions people ask

Is Public Service Co of NM cheaper than El Paso Electric Co?: No — in 2024 Public Service Co of NM customers averaged 15.57 cents/kWh versus 10.16 for El Paso Electric Co (EIA-861). El Paso Electric Co was cheaper by 5.41 cents, about $584 per year at 10,800 kWh.
Can I switch from Public Service Co of NM to El Paso Electric Co?: No — distribution territories are exclusive and set by address; you cannot pick between the two wires companies. New Mexico has no residential supplier shopping either; rates are set in utility-commission proceedings.
Why is Public Service Co of NM more expensive than El Paso Electric Co?: EIA-861 averages reflect everything customers actually paid — supply costs, delivery rates, riders, and surcharges across each territory. Differences in generation mix, grid investment, storm costs, and customer density between Public Service Co of NM and El Paso Electric territory all feed the 5.41-cent gap.

About these numbers. Rates shown are averages computed from federal regulatory filings (EIA Form 861) and public tariff databases — confirm with your utility before making decisions; your actual rate depends on your tariff, usage, and riders. Distribution utility is determined by address and generally cannot be chosen; in retail-choice states you may choose your supplier for the supply portion of the bill. Savings figures use 10,800 kWh/yr (US average residential usage) and are estimates, not quotes. EnergySavings is an independent data project by CertiHomes and is not affiliated with any utility, supplier, or government agency.