POWERING YOUR VISION
New Mexico is often recognized for more affordable energy costs and for being a leader in renewable energy technology.
Public Service Company of New Mexico (PNM), an investor-owned electric utility, provides electricity to the majority of Greater Albuquerque. PNM serves about 100 communities in New Mexico and offers some of the lowest industrial electricity rates in the western U.S. PNM also is able to maintain an excellent reliability record. Over the past ten years, they have maintained an average reliability rating of 99.99%.
Rural communities in our four-county region are served by Central New Mexico Electric Cooperative (CNMEC), a member-owned cooperative. CNMEC serves 11 counties in New Mexico and over 13,000 members.
New Mexico has an abundant supply of electricity from a combination of coal, nuclear, natural gas, and renewable resources. Recent state legislation has catalyzed further investments in renewable energy production and exploration.
New Mexico Gas Company (NMGCO) is the sole provider of natural gas in Greater Albuquerque. NMGCO offers large gas users the option to purchase gas from a third party and transport it over NMGCO lines.
Since New Mexico is the fourth largest gas producer and has the second largest gas reserves in the United States, our four-county region has an abundance of natural gas at costs among the lowest in the nation. Indeed, September 2023 industrial and commercial natural gas prices in New Mexico averaged $4.30 per thousand cubic feet compared to $7.38 per thousand cubic feet across the country.
The Albuquerque/Bernalillo County Water Utility Authority (ABCWUA), serving over 650,000 water users in Greater Albuquerque, initiated and executed the San Juan-Chama Drinking Water Project to preserve and replenish the Santa Fe Group aquifer system. In fact, since 2008, monitoring wells throughout the City are demonstrating recovery of the aquifer by a range of 15 to 30 feet. ABCWUA’s sustainable use of both surface and groundwater, coupled with ambitious conservation efforts, ensures new and existing industries have reliable access to water for generations to come.
Customers in Sandoval, Torrance, and Valencia counties are primarily served by municipal water authorities as well as smaller, private companies, such as New Mexico Water.
The Greater Albuquerque region benefits from the presence of telecommunications and information technology companies, like CenturyLink, Comcast Business, Plateau Communications, Sparklight Business, Unite Private Networks, Verizon, and, new to the market in 2023, Vexus Fiber.
Recent developments include Vexus Fiber’s license agreement with the City of Albuquerque to provide city-wide fiber-optic access by 2028 and Plateau Communications’ $49 million federal award in 2023 to provide broadband access to rural communities in NM, including Belen, Los Lunas, and Moriarity.
Greater Albuquerque has also emerged as a competitive data center market because of its protection from natural disasters and relatively low electricity rates when compared to coastal markets. There are also numerous data colocation facilities throughout the region.