Power to an industrial estate employing 1,600 people in Neath Port Talbot will stay on while a court considers the future of its energy supply.
Baglan Energy Park’s on-site power station was due to be switched off at 20:00 GMT on Friday, months before an alternative connection was in place.
The Welsh government has asked a court to intervene.
The Official Receiver said it had agreed to “temporarily maintain power supply” while legal action continues.
A further hearing is likely to take place next week.
Operations at Baglan Power Station are being wound down after the operators went bust last year.
The Official Receiver had set a deadline of 14 January to end its private electricity supply.
The Welsh government has agreed to fund a new electricity supply, after a private line collapsed in March, but that may not be ready for another six months.
Businesses had warned that switching off the power could have a “catastrophic” impact, while backup generators have been installed in recent days as a contingency plan.
Generators have also been installed at sewage pumps on the industrial estate, with warnings that a loss of power could cause flooding to nearby homes.
The Welsh government, along with Neath Port Talbot council, Dwr Cymru/Welsh Water and a paper mill based at the plant, have jointly applied for an injunction to prevent power being disconnected.