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 children's soft-play coming to tearooms in Laxey
A soft play area has been approved for a tea room in Laxey.
More dates added to food hygiene training
The Department of Environment, Food and Agriculture says high demand means it's added two more dates to a training scheme for food and drink businesses.
Peel Secret Santa scheme brings hope to Island families this Christmas
A Secret Santa scheme for struggling Island families has received an overwhelming response from people wanting to make Christmas brighter for those who need it most.
Own Homes approaches 1,000 pre-registrations on the Isle of Man
A new rent-to-buy scheme has attracted almost 1,000 pre-registrations ahead of its launch in early November.
Timpson applies for key-cutting kiosk at Tesco
You could soon get your key cut after your food shop, if planners give the green light to new proposals.
Post Office suspends deliveries of goods to the EU
The Post Office has halted deliveries of goods to the European Union.
Rob Callister confident in election result despite legal challenge
A winning candidate in last month's general election says he's confident in the result, after a former MHK who lost her seat launched a legal challenge.
Illegal immigrant turned back at Manx border can't stay in UK
An illegal immigrant who applied for asylum in the UK but later came to the Isle of Man has been told he can't stay in either country.
