Xcel Energy New Mexico (Southwestern Public Service) commercial electricity rates

• Average commercial price, 20258.76¢per kWh, all commercial customers
• vs New Mexico average−20%state commercial average 11.01¢
• Commercial customers26,9182nd largest of 16 in New Mexico
• Average use7,766 kWha month per commercial customer
• Average bill$680a month per commercial customer
• Since 2015+16%from 7.58¢ per kWh
• Outages145 mina year per customer · US average 124

Xcel Energy New Mexico (Southwestern Public Service) is an investor-owned utility serving 6 counties in New Mexico. Among the 16 New Mexico utilities in EIA’s 2025 sales data with 500 or more commercial customers, it is the 2nd largest, with about 18% of the state’s commercial customers. EIA lists it as Southwestern Public Service Co.

Xcel Energy New Mexico commercial electricity prices, 2015 to 2025

In 2015 Xcel Energy New Mexico billed its commercial customers an average of 7.58¢ per kWh. In 2025 the figure was 8.76¢, so it rose 16% over 10 years. The average for all commercial customers in New Mexico rose 6.9% over the same period. The highest year was 2022, at 9.79¢. Between 2024 and 2025 it rose 11%.

Average use and average bill are the utility’s commercial sales and revenue divided by its commercial customers and by twelve. The bill is an all-in figure: energy, delivery, demand and fixed charges together. A few very large customers pull both averages up, so most businesses use and pay less than the average.

Residential, commercial and industrial prices at Xcel Energy New Mexico

In 2025 the average commercial price at Xcel Energy New Mexico was 32% below the residential figure and 73% above the industrial one. Larger customers take power at a higher voltage and use it more steadily, so at most utilities the average falls from residential to commercial to industrial. Which class an account falls in is the utility’s decision, and the line between commercial and industrial is drawn differently from one utility to the next.

How Xcel Energy New Mexico’s commercial rates are set

Xcel Energy New Mexico is investor-owned, so its rates are set in cases before the New Mexico Public Regulation Commission and published in a tariff, which is a public document. A commercial account is billed on a rate schedule, chosen by the size of the account and the voltage it takes power at, and a schedule usually combines a fixed monthly charge, a charge per kWh and, above a certain size, a demand charge on the highest rate of draw in the month. The schedule code is printed on the bill. There is no competitive supply market for ordinary commercial accounts in New Mexico, so the levers are the schedule, the peak and the amount used.

Meters, time-varying rates and net metering at Xcel Energy New Mexico

EIA counts 23,195 commercial meters at Xcel Energy New Mexico in 2025, and 18,792 of them (81%) are advanced meters (AMI), which record use at least hourly and report it to the utility at least daily. Of the rest, 35 are automated-reading (AMR) meters, which send a reading to the utility for billing only, and 4,368 are standard meters. An advanced meter is what makes interval data possible, and interval data is what shows when a building’s peak demand happens.

At Xcel Energy New Mexico, 99 commercial customers were on a time-varying rate in 2025, about 0.4% of its commercial customers. A time-varying rate charges more in some hours than in others, so when a business uses power matters as well as how much. The kinds Xcel Energy New Mexico reports offering commercial customers are time-of-use pricing.

EIA records 167 commercial net-metered generating systems at Xcel Energy New Mexico in 2025, with 9.30 MW of capacity between them: about 6.2 for every 1,000 commercial customers. Net metering credits a customer for power its own system sends to the grid; the terms are in the utility’s tariff.

How reliable is Xcel Energy New Mexico’s electric service?

Xcel Energy New Mexico customers went without power for an average of 145 minutes in 2025, excluding major storms, with about 1.09 interruptions per customer. The average across U.S. utilities reporting the same way is 124 minutes. With major storms counted the figure was 235 minutes. These are averages over every customer of every class, so they describe the system and not any one street.

Where Xcel Energy New Mexico serves

EIA records Xcel Energy New Mexico serving customers in 6 New Mexico counties: Chaves, Curry, Eddy, Lea, Quay, Roosevelt. A county can be shared between utilities, so this does not tell you who serves a given address. The utility that serves an address is the one named on its bill.

EIA lists the Southwest Power Pool as its balancing authority. SPP is one of the organised wholesale markets, which run the grid and the wholesale power market across their area.

Other utilities in New Mexico

The average each billed its commercial customers in 2025. The New Mexico page has the state’s own figures and every utility with 500 or more commercial customers.

• PNM (12.46¢)
• El Paso Electric (8.39¢)

What these figures can and cannot tell you

• They are averages over every commercial customer. A utility whose commercial customers are mostly large averages fewer cents per kWh than one serving mostly small shops, so a lower figure can mean larger customers and not a lower rate.
• They are not a rate schedule. None of these figures is a charge printed in Xcel Energy New Mexico’s tariff, and nothing here works out a bill from one. The tariff index lists the utilities whose filed schedules are quoted on this site.
• They are annual and final. EIA publishes utility figures once a year. The New Mexico page carries the state’s trailing 12 months, which is more recent and still preliminary.

For one building, the cost estimator gives a range by building type, size and state, and price by utility sets every utility side by side. Commercial vs residential vs industrial compares the classes in every state.

Data: every year of these figures, for this utility and every other with a page, is in one CSV, free to use with credit to the U.S. Energy Information Administration and this site. To cite this page: Xcel Energy New Mexico commercial electricity rates, CommercialElectricityRates.com, from EIA Form EIA-861 final 2025 data.

Common questions about Xcel Energy New Mexico

What is the average commercial electricity rate at Xcel Energy New Mexico?

Xcel Energy New Mexico billed its commercial customers in New Mexico an average of 8.76¢ per kWh in 2025, according to the U.S. Energy Information Administration. That is 20% below the New Mexico commercial average of 11.01¢. It is the utility’s commercial revenue divided by its commercial sales, so it describes the whole class and is not the rate on any one schedule.

How much is the average commercial electric bill at Xcel Energy New Mexico?

About $680 a month in 2025, on average use of about 7,766 kWh a month. That is Xcel Energy New Mexico’s commercial revenue divided by its 26,918 commercial customers. A few very large accounts pull the average up, so most businesses pay less than this.

Have Xcel Energy New Mexico’s commercial electricity rates gone up?

The average Xcel Energy New Mexico billed commercial customers rose 16% between 2015 and 2025, from 7.58¢ to 8.76¢ per kWh. The New Mexico commercial average rose 6.9% over the same period.

How reliable is Xcel Energy New Mexico’s electric service?

Xcel Energy New Mexico customers averaged 145 minutes without power in 2025, excluding major storms, against a 124-minute average for U.S. utilities reporting the same way (EIA).

Does Xcel Energy New Mexico use smart meters for businesses?

EIA counts 18,792 advanced (AMI) meters among Xcel Energy New Mexico’s 23,195 commercial meters in 2025, which is 81%. An advanced meter records use at least hourly, which is what makes interval data and time-varying rates possible.

Is this the rate my business will pay Xcel Energy New Mexico?

No. It is an average over every commercial customer, from a corner shop to a campus. What one business pays depends on its rate schedule, how much it uses and how hard it draws at its peak. The schedule code is printed on the bill, and the schedule itself is in Xcel Energy New Mexico’s tariff.