Electric Rates

Installing an EV charger allows you to enroll in lower electric rates during key charging hours.

Electric Rates

Installing an EV charger allows you to enroll in lower electric rates during key charging hours.

Whole Home EV Rate

The Whole Home Electric Vehicle (WHEV) Rate Pilot provides a low cost of energy ($0.0315696 per kWh) to qualified and enrolled EV drivers from 10:00 PM-5:00 AM. Customers can apply for rebates today and sign up for the EV TOU rate. 

Time Period WHEV $/kWh
(June, July, Aug) Rate
WHEV $/kWh
(All Other Months) Rate
5:00am - 10:00pm Electricity Usage
Block 1
$0.0748255 / kWh
$0.0748255 / kWh
Block 2
$ 0.1240339 / kWh
$ 0.1070240 / kWh
Block 3
$ 0.1664298 / kWh
$ 0.1408090 / kWh
WHEV Electricity Usage (10:00pm - 5:00am)
$0.0315696 / kWh
$0.0315696 / kWh
Time Period
5:00am - 10:00pm Electricity Usage
Block 1
WHEV $/kWh (June, July, Aug) Rate
$ 0.0748255 / kWh
WHEV $/kWh (All Other Months) Rate
$ 0.0748255 / kWh
Block 2
WHEV $/kWh (June, July, Aug) Rate
$ 0.1240339 / kWh
WHEV $/kWh (All Other Months) Rate
$ 0.1070240 / kWh
Block 3
WHEV $/kWh (June, July, Aug) Rate
$ 0.1664298 / kWh
WHEV $/kWh (All Other Months) Rate
$ 0.1408090 / kWh
Time Period
WHEV Electricity Usage (10:00pm - 5:00am)
WHEV $/kWh (June, July, Aug) Rate
$0.0315696 / kWh
WHEV $/kWh (All Other Months) Rate
$0.0315696 / kWh

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Special consideration should be taken by customers currently participating in PNM’s net metering rates, such as small solar customers.  In order to offer this pilot rate, the overnight hours must be accounted for separately, which means that solar production and home consumption are accounted for only during the time periods in which they occur. Since there is little to no solar production from 10:00 PM to 5:00 AM during most of the year, this means that little to no energy accounted for in the WHEV pilot rate overnight period will be offset by solar production. 

All other consumption and production from 5:00 AM to 10:00 PM will continue to be metered as net metering customers are accustomed to. Adding solar does not offset the cost of charging your EV overnight.

Commercial Charging Station Pilot - Rate Schedule #3F

The non-residential EV charging rate is a separately metered service dedicated solely to EV charging. The volumetric rates have been formulated to encourage use during off-peak hours, as defined in the tariff, with competitive off-peak pricing. As a default, non-residential charging station operators who receive program funds and enroll in the Commercial Charging Station Pilot – Rate Schedule #3F are required to include a price differential to the end-customer at the same ratio as Rate 3F (3:1 in the Summer and 2:1 all other months) as the initial setup.

Customers can apply for rebates today and sign up for the EV TOU rate. 

TOU hours for Rate 3F Proposed Energy Rate
On-peak
Summer
05:00am – 10:00pm, Monday thru Sunday (35 hrs / week)
$0.1865171 / kWh
Non-summer
05:00am – 08:00am and 05:00 – 08:00pm, Monday thru Sunday (42 hrs / week)
$0.1380762 / kWh
Off-peak
Summer
All other hours (133 hours / week)
$0.0642196 / kWh
Non-summer
All other hours (126 hours / week)
$0.0642196 / kWh

TOU hours for Rate 3F

On-peak
Summer
05:00am – 10:00pm, Monday thru Sunday (35 hrs / week)
$0.1865171 / kWh
Non-Summer
05:00am – 08:00am and 05:00 – 08:00pm, Monday thru Sunday (42 hrs / week)
$0.1380762 / kWh
Off-peak
Summer
All other hours (133 hours/ week)
$0.0642196 / kWh
Non-Summer
All other hours (126 hours/ week)
$0.0642196 / kWh
Join PNM's EV Community

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See if your property is right for EV chargers

Complete the form below or call us to get connected with an EV advisor.

Qualified Product List

View a list of qualified EV products available for PNM rebates. 

Policies & Procedures Handbook

Click below to view the program policies and procedures.