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The Intermountain Rural Electric Association will return $8.4 million to customers after its wholesale power costs this year came in lower than projected.

The rare rebates, which work out to an average of $41 per residential customer, will show up next month as a bill credit.

“We have never gotten a credit this large. Our board felt strongly that the money should go back to customers. It was a one-time thing,” said Josh Liss, corporate affairs manager at the power distribution cooperative based in Sedalia.

Intermountain Rural counts more than 150,000 customers in 10 counties on the southern tier of the metro area, including residents of Centennial, Parker and Castle Rock.

Xcel Energy, which supplies electricity to the company, was able to secure power at a lower than expected cost, which generated the savings that are being passed on.

The electricity rate rebate is separate from a capital contribution credit of around $13 million the utility issued in the spring.

Of the state’s 26 distribution cooperatives, four obtain their power from Xcel Energy, the state’s largest utility, and the rest through Tri-State Generation & Transmission.

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