Manx Utilities says it's passing on a £10 million fall in wholesale costs to customers.
Last year, the organisation said it would be putting prices up in April, but earlier this month reversed the decision and said it would drop prices instead.
In the House of Keys this week, Arbory, Castletown and Malew MHK Jason Moorhouse quizzed chairman John Wannenburgh MHK about what had led to the change of heart.
Mr Wannenburgh revealed the price of power had fallen:
New amber warning issued for tonight's storm
Ronaldsway Met Office has upgraded tonight's weather warning from yellow to amber.
Police appeal over theft of building materials
Police in the West are appealing for information about stolen buildings materials.
One of capital's oldest buildings may become housing
One of the oldest buildings in Douglas could become residential accommodation, according to an estate agent.
New NHS safety rule to be brought in on Island
A new NHS rule aimed at stopping conditions being misdiagnosed will be adopted on the Island.
Two city streets to shut for over six months
Two streets in the centre of Douglas will be partly closed for over six months.
Revamp of airport terminal planned, says DOI
The Department of Infrastructure says a series of improvements to the airport terminal have been planned for the next three years.
Four ferries now listed as cancelled today
The Steam Packet says it's cancelled a total of four sailings because of bad weather today, Saturday, April 4.
One weekend sailing cancelled, others at risk because of weather
The Steam Packet says it's cancelled its Saturday afternoon sailing because of bad weather.
