Public Service Company of New Mexico (PNM) Rate Selection Guide
Public Service Company of New Mexico (PNM) is the state's largest electricity provider, serving about 550,000 customers. PNM offers online billing with 12 months of history, a daily-granularity My Energy Usage portal, and PNM Profiler hourly/daily interval data for large commercial and industrial customers, with broader AMI smart-meter data access rolling out through 2030.
Public Service Company of New Mexico (PNM) Rate Schedule Comparison
| Schedule | Type | Rate | Best For |
|---|---|---|---|
| Rate 3B - General Power (TOU) | commercial | Customer + demand ($/kW) + TOU energy (see tariff) | General commercial / mid-size power |
| Rate 3C - General Power Low Load Factor (TOU) | commercial | Customer + demand + TOU energy (low load factor) | Low-load-factor general power |
| Rate 4B - Large Power (TOU) | industrial | Customer + demand ($/kW) + TOU energy (see tariff) | Large commercial / industrial |
| Rate 5B / 30B / 35B | industrial | High-voltage demand + TOU energy (see tariff) | Very large / manufacturing loads |
Market Overview
Regulated, bundled service set by the NMPRC. No competitive retail supplier choice in New Mexico; PNM serves all retail load in its territory under approved tariffs.
Need to pull your actual usage data to compare rates? See the Public Service Company of New Mexico (PNM) Data Access Guide →
Current Rate Schedules
PNM's C&I rates are NMPRC-regulated, time-of-use tariffs that combine a customer/service charge, a demand charge ($/kW), and time-differentiated energy charges ($/kWh), plus riders including the Fuel and Purchased Power Cost Adjustment Clause (Rider 23), Energy Transition Charges (Rider 51), and Grid Modernization (Rider 60). Exact per-unit charges are published in each rate schedule on PNM's rates page and change with rate cases and rider updates; we cite the tariff schedules for current figures rather than asserting unverified per-kWh numbers. Verified context: the NMPRC-approved base-rate case (Docket 24-00089-UT) phased in a $105.0M revenue increase, with the second/final phase effective April 1, 2026 (about $6.23/month for an average residential customer; C&I impact varies by schedule). C&I customers should consult the specific schedule (e.g., 3B, 4B) applicable to their voltage and load.
Effective: April 1, 2026 · Full Tariff Book →
| Schedule | Type | Applicability | Structure | Rate |
|---|---|---|---|---|
| Rate 3B - General Power Service (TOU) | commercial | General commercial and mid-size power customers; time-of-use. | Customer charge + demand charge ($/kW) + time-of-use energy charges ($/kWh), plus fuel and other riders. Per-unit figures in the Rate 3B tariff sheet. | — |
| Rate 3C - General Power Service Low Load Factor (TOU) | commercial | General power customers with low load factor; time-of-use. | Customer charge + demand charge + TOU energy charges weighted for low-load-factor usage, plus riders. See Rate 3C tariff sheet. | — |
| Rate 4B - Large Power Service (TOU) | industrial | Large commercial and industrial power customers; time-of-use. | Customer charge + demand charge ($/kW) + TOU energy charges, typically at primary voltage, plus riders. See Rate 4B tariff sheet. | — |
| Rate 5B - Large Service >= 8,000 kW (115/69/34.5 kV) | industrial | Very large customers with >= 8,000 kW minimum served at transmission/subtransmission voltage. | Demand-driven, high-voltage service with customer charge, demand charge, and TOU energy charges, plus riders. See Rate 5B tariff sheet. | — |
| Rate 30B - Large Service for Manufacturing >= 30,000 kW | industrial | Very large manufacturing loads with >= 30,000 kW minimum at distribution voltage. | Large-load demand and TOU energy structure for manufacturing, plus riders and available economic development riders (Rider 45). See Rate 30B tariff sheet. | — |
Rate Recommendations by Use Case
General commercial facility (office, retail, mid-size power)
Most general commercial customers fall on Rate 3B (General Power TOU). If your facility runs at a low load factor, evaluate Rate 3C, which is structured for that profile.
TOU energy pricing and demand charges mean load shape matters; low-load-factor sites may pay less under 3C.
- Pull PNM Profiler or My Energy Usage data to understand your load factor
- Shift discretionary load out of on-peak TOU windows
- Track Rider 23 fuel and Rider 51/60 charges on recent bills
Large industrial / high-demand operation
Large loads should confirm whether Rate 4B (Large Power) or a higher-voltage schedule (5B, 30B, 35B) is optimal; higher-voltage service typically lowers $/kWh.
Demand charges and service voltage dominate large-industrial bills; taking service at transmission/subtransmission voltage can materially cut cost, and economic development riders may apply.
- Use PNM Profiler hourly data to find and shave coincident peaks
- Evaluate Rider 45 Economic Development eligibility
- Confirm power factor to avoid penalties
Energy-intensive C&I site (>= 1.5M kWh/year)
Sites using 1.5 million kWh/year or more should enroll in PNM's free Strategic Energy Management (SEM) program for monitoring, benchmarking, and analytics support.
SEM provides data tools and technical support at no extra cost and pairs well with demand- and TOU-management strategies.
- Confirm 1.5M+ kWh/year qualification with your Account Manager
- Combine SEM analytics with PNM Profiler interval data
- Use findings to target the largest demand and on-peak reductions
Historical Rate Trends
PNM rates have risen with infrastructure investment, wildfire mitigation, and clean-energy transition costs. The NMPRC approved a base-rate case (Docket 24-00089-UT) in May 2025 authorizing a $105.0 million revenue increase, phased in two steps to soften customer impact.
July 1, 2025
First phase of the NMPRC-approved $105.0M revenue increase (about 50% of the increase) takes effect (~$2.79/month average residential).
phase 1 of approved increaseApril 1, 2026
Second/final phase of the approved increase takes effect (about $6.23/month additional for an average residential customer).
phase 2 of approved increaseOverall trend: Upward, with NMPRC-mandated customer protections (capped service fees, Good Neighbor Fund contribution).
Next expected change: Future resource and rider filings (e.g., grid modernization annual reviews, 2026 resource case 23-00353-UT); possible Green Button / third-party marketplace launch under grid modernization.
Cost Optimization Strategies
Because PNM customers cannot shop for a competitive supplier, C&I savings come from correct schedule selection, time-of-use load shifting, demand management, and use of free programs like SEM.
Right-size your rate schedule
For: All C&I
Match your schedule (3B vs 3C, or 4B/5B/30B) to your voltage, load factor, and size to minimize cost.
Time-of-use load shifting
For: TOU-billed C&I
Move discretionary load out of on-peak TOU windows to cut time-differentiated energy charges.
Peak demand management
For: Demand-metered C&I
Use PNM Profiler hourly/daily interval data to identify and shave coincident peaks that set the demand charge.
Leverage SEM and efficiency programs
For: Large C&I
Enroll large sites (1.5M+ kWh/yr) in free Strategic Energy Management and pursue Business Energy Efficiency rebates.
To implement these strategies, you need your 15-minute interval data. Learn how to download Public Service Company of New Mexico (PNM) interval data →
Frequently Asked Questions
Can PNM C&I customers choose a competitive electricity supplier?▾
No. New Mexico does not have retail electric competition. PNM is a regulated monopoly provider, so commercial and industrial customers buy bundled service from PNM at NMPRC-approved tariff rates and cannot shop for a competitive supplier.
How does a large business get interval (hourly/daily) usage data?▾
Large commercial and industrial customers can request PNM Profiler access through their PNM Account Manager. Profiler provides hourly and daily usage with downloadable spreadsheet export and reports such as Peak Day, 24-Hour Profile, and Load Duration. PNM does not currently offer Green Button.
Which rate schedule applies to my commercial or industrial facility?▾
Most general commercial customers are on Rate 3B (or 3C for low load factor). Large loads use Rate 4B, and very large/high-voltage or manufacturing loads use 5B, 30B, or 35B. The right schedule depends on your peak demand, load factor, and service voltage; consult the tariff sheets on PNM's rates page.
How did the recent PNM rate case affect bills?▾
The NMPRC approved a $105.0 million revenue increase in Docket 24-00089-UT, phased in two steps: about half on July 1, 2025 and the remainder on April 1, 2026 (about $6.23/month additional for an average residential customer). C&I impact varies by schedule; check your specific tariff.
Does PNM offer a free energy management program for large customers?▾
Yes. Strategic Energy Management (SEM) is free for C&I sites using 1.5 million kWh/year or more (funded through the customer's bill) and provides monitoring, reporting tools, benchmarking, and an analytics dashboard. Enroll through your PNM Account Manager.
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