Electric Consumer

Editor: Katerine G., Editor & Data Researcher · Research & publishing: Electric Consumer Editorial Team · Data retrieved · Sources named on this page: EIA-861, EIA retail sales, EIA-860/923, Census ACS, NOAA · How we got these numbers · Report an error

Cost to heat a home in New Mexico: electricity vs gas

With electricity at 15.08 cents per kWh and natural gas at $9.83 per Mcf in 2025, one MMBtu of heat costs $9.99 from a gas furnace, $14.73 from a heat pump and $44.20 from resistance heating in New Mexico.

Your New Mexico heating cost

    New Mexico inputs: 15.08 ¢ per kWh, $9.83 per Mcf, fuel only; the need is an illustration. Method.

    The numbers

    Electricity 2025
    15.08 ¢/kWhrank 26 of 45 states by price
    Natural gas 2025
    $9.83 per Mcfrank 42 of 45 states by gas price
    Gas furnace
    $9.99 per MMBtu95% efficiency, rank 42 of 45
    Heat pump
    $14.73 per MMBturank 20 of 45 states, COP 3.0 assumed
    Electric resistance
    $44.20 per MMBtu4.4 times a furnace
    Break-even COP
    4.42a heat pump above it beats gas; rank 39 of 45
    Annual cost at 50 MMBtu
    $737 heat pumpfuel only
    Homes heated by electricity
    23%62% utility gas, 7% propane, 0% oil
    Electricity since 2024
    +6.2%
    Gas since 2024
    +8.6%
    Winter load
    +20% over spring and fallsummer +57%: a summer-peaking state
    Heating degree-days, normal year
    4,8581991 to 2020; 2025 had 3,947, rank 28 of 42 states by normal HDD
    Occupied homes in New Mexico (ACS 2023)
    825,021190,676 electric, 509,079 utility gas, 55,017 propane, 1,419 oil; 5 of 33 counties are over half electric
    Generating capacity in New Mexico
    12,767 MWEIA-860 2025; 4,873 MW under construction

    New Mexico charts

    One MMBtu of heat in New Mexico

    $9.99 gas, $14.73 heat pump, $44.20 resistance.

    $ per MMBtu

    • Electric resistance44.2
    • Heat pump, COP 3.014.7
    • Gas furnace, 95%10.0

    New Mexico, Cost of one MMBtu of heat in New Mexico: EIA retail sales and natural gas prices.

    CSV

    Prices since 2015, New Mexico

    Electricity $44.20 and gas $9 per MMBtu of energy in 2025.

    Fuel cost per MMBtu, New Mexico, 2015 to 2025: 11 rows
    YearNew Mexico electricityNew Mexico gas
    201536.58.3
    201635.37.8
    201737.78.9
    201837.27.6
    201936.76.2
    202037.96.8
    202139.69.4
    202240.612.1
    202340.611.3
    202441.68.7
    202544.29.5

    11 rows from EIA retail sales and natural gas prices.

    CSV

    How New Mexico heats

    23% electric.

    % of homes

    • Electricity23.1
    • Utility gas61.7
    • Propane6.7
    • Fuel oil0.2
    • Wood6.1

    New Mexico, How New Mexico homes are heated: Census ACS 2023, table B25040.

    CSV

    Break-even COP by month, New Mexico

    2.75 to 7.33 across the months shown.

    Break-even COP by month, New Mexico: 12 rows
    Month20252026
    Jan4.23No data
    Feb5.174.63
    Mar4.243.59
    Apr7.33No data
    May4.19No data
    Jun2.88No data
    Jul2.883.51
    Aug2.75No data
    Sep3.22No data
    Oct3.68No data
    Nov4.64No data
    Dec3.81No data

    12 rows from EIA retail sales.

    CSV

    How New Mexico homes heat

    New Mexico main fuelNew Mexico homesNew Mexico shareNew Mexico rank among states
    Electricity190,67623.1%34 of 45
    Utility gas509,07961.7%10 of 45
    Propane55,0176.7%17 of 45
    Fuel oil1,4190.2%30 of 45
    Wood50,0596.1%3 of 45

    New Mexico has 12,767 MW of operable generating capacity (EIA-860, 2025), largest in wind at 4,429 MW; 4,873 MW is under construction and 2,192 MW planned, which matters if heat pumps add winter load.

    11 New Mexico utilities report meters to EIA-861: 28.4% of 971,201 home meters are smart (AMI), 8 offer a home time-of-use rate and 8,061 homes are on dynamic pricing.

    New Mexico counties by electric heating

    Largest electric share first, then the smallest; 19 counties.

    New Mexico countyNew Mexico residentsNew Mexico electric heatNew Mexico utility gasNew Mexico propaneNew Mexico median income
    Eddy County61,11454%41%3%$79,605
    Curry County47,93252%42%3%$56,259
    Chaves County64,44651%42%5%$52,029
    Lea County73,15451%40%6%$68,750
    Luna County25,42047%39%9%$37,917
    Grant County27,85634%41%13%$45,921
    Doña Ana County221,66531%59%6%$55,663
    Otero County68,23524%52%12%$52,717
    Bernalillo County674,35720%74%3%$66,514
    Santa Fe County155,17517%66%8%$74,689
    Lincoln County20,22715%63%6%$51,643
    San Miguel County27,03614%33%21%$47,400
    Sandoval County151,53813%75%5%$84,053
    Valencia County77,38212%68%11%$58,333
    Cibola County27,05912%44%14%$51,765
    San Juan County121,17811%61%12%$53,020
    Taos County34,51610%47%14%$58,908
    McKinley County71,1729%39%7%$44,496
    Rio Arriba County40,1658%61%6%$53,901

    New Mexico month by month

    MonthNew Mexico electricity ¢/kWhNew Mexico gas $/McfHeat pump $/MMBtuGas furnace $/MMBtuNew Mexico break-even COP
    Jul 202616.09$13.21$15.7$13.43.51
    Mar 202614.81$11.90$14.5$12.13.59
    Feb 202615.07$9.38$14.7$9.54.63
    Dec 202514.66$11.11$14.3$11.33.81
    Nov 202515.61$9.70$15.2$9.94.64
    Oct 202514.95$11.73$14.6$11.93.68
    Sep 202516.52$14.78$16.1$15.03.22
    Aug 202516.19$16.98$15.8$17.32.75
    Jul 202515.80$15.82$15.4$16.12.88
    Jun 202514.68$14.71$14.3$14.92.88
    May 202514.50$9.99$14.2$10.24.19
    Apr 202514.35$5.65$14.0$5.77.33
    Mar 202514.78$10.05$14.4$10.24.24
    Feb 202514.53$8.10$14.2$8.25.17
    Jan 202513.66$9.32$13.3$9.54.23

    Heating season

    A normal year in New Mexico brings 4,858 heating degree-days and 833 cooling degree-days (1991 to 2020). Months above 300 heating degree-days in a normal year: Jan, Feb, Mar, Apr, Oct, Nov, Dec. 2025 had 3,947, 19% below normal; the highest of 2015 to 2025 was 4,584 in 2022.

    New Mexico degree-days by year

    Heating and cooling degree-days, New Mexico, 2015 to 2025: 11 rows
    New Mexico yearHeating (HDD)Cooling (CDD)Normal HDDNormal CDD
    2015433210644858833
    2016413410674858833
    2017377910304858833
    2018426412144858833
    2019457511204858833
    2020416612614858833
    2021418710734858833
    2022458411744858833
    2023440313094858833
    2024409613014858833
    2025394711454858833

    NOAA nClimDiv degree-days for New Mexico, 2015 to 2025, pulled 2 Oct 2026.

    CSV

    Heating degree-days by month

    Heating degree-days by month, New Mexico: 12 rows
    Month2025Normal
    Jan1038943
    Feb551734
    Mar524628
    Apr319378
    May148157
    Jun1328
    Jul24
    Aug210
    Sep4870
    Oct194316
    Nov467661
    Dec641929

    NOAA nClimDiv degree-days for New Mexico by month, 2025.

    CSV
    New Mexico, 2025 by month: 12 rows
    MonthHDD 2025HDD normalCDD 2025CDD normal
    Jan1,03894300
    Feb55173400
    Mar52462810
    Apr319378105
    May1481575548
    Jun1328277193
    Jul24314275
    Aug210336223
    Sep487012785
    Oct194316244
    Nov46766110
    Dec64192900

    NOAA nClimDiv degree-days for New Mexico, 2025 by month.

    CSV

    Analyst note

    Wood stands out in New Mexico: 50,059 homes, 6.1%, rank 3 of 45. Main heating fuel in New Mexico is utility gas (62% of homes); electricity heats 23% and utility gas 62%. Since 2024 electricity moved +6.2% and gas +8.6%. A COP 3.0 heat pump trails a furnace here by $4.74 per MMBtu; the break-even COP of 4.42 ranks 39 of 45. The most electric counties of New Mexico with 20,000+ residents are led by Eddy County at 54% of homes. A normal New Mexico year has 4,858 heating degree-days, and 2025 had 3,947, so heating demand ran 19% below the 1991 to 2020 normal.

    States with a similar break-even

    State near New MexicoBreak-even COP near New MexicoGas, $ per MMBtuHeat pump, $ per MMBtu
    Idaho4.43$7.81$11.55
    New York4.33$17.86$25.78
    Illinois4.54$11.43$17.28
    California4.26$22.36$31.79
    New Jersey4.59$14.44$22.11
    Montana4.16$9.13$12.68

    Questions on heating in New Mexico

    How many New Mexico homes heat with wood?

    50,059 of 825,021 homes, 6.1%, ranks 3 of 45 states.

    Is a heat pump cheaper than gas in New Mexico?

    No on fuel cost: $14.73 per MMBtu against $9.99 for gas, break-even COP 4.42.

    Which New Mexico county has the most electric heating?

    Eddy County: 54% of 23,245 homes among counties with 20,000+ residents, median income $79,605.

    What share of New Mexico homes heat with electricity?

    23% of 825,021 occupied homes in ACS 2023, against 62% with utility gas.

    Where does New Mexico rank on heat pump cost?

    20 of 45 at $14.73 per MMBtu; North Dakota is lowest at $11.54.

    Is New Mexico a winter or summer electricity state?

    Summer use runs +57% over spring and fall, winter +20%: cooling drives the load.

    Did gas or electricity get more expensive in New Mexico in 2026?

    No monthly gas data.

    How much generating capacity does New Mexico have?

    12,767 MW operable in 2025, 4,873 MW under construction, 2,192 MW planned (EIA-860).

    How many New Mexico homes have smart meters?

    28.4% of 971,201 home meters, 8 of 11 reporting utilities offer time-of-use.

    More on New Mexico

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    With electricity at 15.08 cents per kWh and natural gas at $9.83 per Mcf in 2025, one MMBtu of heat costs $9.99 from a gas furnace, $14.73 from a heat pump and $44.20…