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:
Planning application for onshore wind farm still being developed
Motorcyclist suffered fatal chest injuries in crash
Trial for trio accused of producing Class A drugs to Island
Too early for 'direct action' over cost-of-living concerns says chief minister
Government gives assurance as inflation soars