Southwestern Public Service Company (an Xcel Energy company)

SPS has no EV-specific residential rate. Its New Mexico filing says residential customers can stay on the standard Residential Service or Residential Heating Service rate, or choose an optional whole-home Time of Use rate that is not specific to EVs. Because no EV-only overnight rate exists, the savings for EV owners here come from the rebate and managed-charging programs rather than a special charging rate.

In New Mexico, the rebates and the managed-charging programs are designed to work together. The EV Charger and Wiring Rebate offsets the cost of a Level 2 charger and the 240-volt circuit it needs, with a higher amount for income-qualified households, and it requires participating in one of Xcel's programs, such as Optimize Your Charge or a time-of-use rate. Customers can pair that with Charging Perks, a managed program that pays a sign-on credit plus an annual credit for charging when cleaner energy is on the grid, or choose Optimize Your Charge, which pays a smaller annual credit for charging in a set off-peak window. The commercial and multifamily program is separate, structured as per-port rebates for Level 2 and DC fast charging.

The most important territory caveat is the New Mexico versus Texas split. SPS files its EV programs separately by state, and the charger rebate and managed-charging offerings come from a New Mexico Transportation Electrification Plan; Xcel's New Mexico program materials do not extend them to the Texas Panhandle. Texas Panhandle customers of SPS should not assume the New Mexico rebates apply to them. Confirm current program availability for your service address before purchasing equipment.