Electricity rates in 88240 — Hobbs, NM
Homes in ZIP 88240 pay about 12.2¢ per kWh (Southwestern Public Service Co., Jan–Aug 2026). The New Mexico average is 16.5¢ and the U.S. average 18.2¢ (Aug 2026).
What a month of electricity costs
Monthly cost at the average price of 12.2¢ per kWh. Real bills add or subtract fixed charges, tiers, time-of-use and fuel adjustments.
Where ZIP 88240 is
Outlined: ZIP code area · scroll or pinch to zoomUtilities serving 88240
| Utility | Home price | Avg. bill | Customers in NM |
|---|---|---|---|
| Southwestern Public Service Co. Investor Owned | 12.2¢ Jan–Aug 2026 | $119 | 100,540 |
| Lea County Electric Coop, Inc. (NM) Cooperative | 10.1¢ 2024 | $114 | 7,217 |
| Central Valley Elec Coop, Inc. Cooperative | 9.7¢ Jan–Aug 2026 | $105 | 6,150 |
Utilities are matched to this ZIP code by NREL’s ZIP–utility table and the EIA service-territory list for Lea County; county matches may serve only part of the area. Prices are each utility’s average residential revenue per kWh.
New Mexico price trend
Hover or tap the chart for exact monthly values. Source: EIA-861M (monthly, latest months preliminary); forecast: EIA Short-Term Energy Outlook (October 2026) for the Mountain region, which includes Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming.
Averages, not a quote. Prices here are what each utility’s residential customers paid on average (revenue ÷ kWh sold, fixed charges included), as reported to the U.S. Energy Information Administration. Your own rate depends on your plan, season and usage — check your bill or your utility’s tariff.
Questions about 88240
How much does electricity cost in 88240?
About 12.2¢ per kWh for homes (Southwestern Public Service Co., Jan–Aug 2026, EIA). At 900 kWh a month that is roughly $110.
Who is the electric utility for 88240?
Southwestern Public Service Co., with about 100,540 residential customers in New Mexico; 2 other utilities also serve parts of the area.
Is electricity in NM getting more expensive?
The New Mexico residential average was 16.5¢ per kWh in August 2026, up 3.3% from a year earlier; the U.S. average was 18.2¢.