A cash injection to the Manx Electricity Authority, halting price rises over the next two years, aims to keep businesses in the Island.
This week's announcement by the Council of Ministers of a £14.5 million support package for the MEA is a direct response to concerns raised by the commercial sector over rising bills.
Without it, ministers feared some firms would leave the Island if the cost of electricity made them uncompetitive.
The price freeze will also help domestic consumers.
Minister for Education and Children, former MEA chairman, Eddie Teare says they had to act to protect the manufacturing industry:
Report warns future flooding could lead to £3bn in economic damage
Ramsey Commissioners to stop using AI images on website and social media
Have your say about Isle of Man Post
Wildlife park animals to get extra treats on Christmas Day
