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 ferry terminal question to be raised in Tynwald
When will the Island's new ferry terminal finally be ready for the public to use?
Amended planning app for possible place of worship submitted
A church hoping to turn a former shop into a place of worship has submitted amended plans.
Come TORQ this TT
Two charities have teamed-up to create a mental health and wellbeing service for TT riders.
Gas prices will be reviewed twice this year
The Island's utilities regulator says it'll review gas prices twice this year.
Minister says staff changes held-up Transport Strategy
Infrastructure Minister Tim Crookall says staffing changes have held up his department's Transport Strategy.
DfE says TT fireworks aren't made from plastic
The Department for Enterprise says it doesn't fish discarded plastic out of Douglas Bay after the TT fireworks display - because it doesn't use plastic.
Cook with disposable BBQs safely, urges Fire Service
If you're planning to have a barbecue in the sunshine today, ensure you do so safely.
One person from Island on 2024 Sunday Times Rich List
Just one Island resident has made it onto this year's list of Britain's richest people.
