12:1 At that time you will say: “I praise you, O Lord, for even though you were angry with me, your anger subsided, and you consoled me.

Chapter 12 is the fifth and final Book of Immanuel (Isaiah 7-12). "At this time" refers to the Millennial Kingdom. After the Great Tribulation, the Jews will sing praises to Jehovah.

After the first Exodus under Moses, the Jewish people sang a hymn. After this second and final Exodus under Immanuel, Israel will once again sing a hymn. Chapter 12 records the song that the Jewish Remnant will sing at the end of the Great Tribulation and before they enter into the Millennial Kingdom.

The Jewish Remnant will praise Immanuel for ending His anger against Israel.

12:2 Look, God is my deliverer! I will trust in him and not fear. For the Lord gives me strength and protects me; he has become my deliverer.”

The Hebrew word for “God is my deliverer” is אֵ֧ל יְשׁוּעָתִ֛י (El Yeshuati), meaning "God is my salvation." This is also the Hebrew name of Jesus. God has become the “Jesus” of Israel. Israel now trusts in Jesus for salvation. In Hebrew, this verse literally reads, "Look, God is my Jesus." Israel is praising Immanuel for delivering them out of the Great Tribulation. Immanuel is Jesus.

12:3 Joyfully you will draw water from the springs of deliverance.

The waters of salvation is a common picture of the Holy Spirit (John 7:37-39). This Jewish Remnant has received their salvation from Immanuel. They received the Holy Spirit at salvation. They receive the waters of salvation freely.

12:4 At that time you will say: “Praise the Lord! Ask him for help! Publicize his mighty acts among the nations! Make it known that he is unique!

The Jews will make the name of Immanuel to be known among the Gentiles.

12:5 Sing to the Lord, for he has done magnificent things, let this be known throughout the earth!

All of the Gentiles should sing songs which praise Immanuel, because He has done great things for them.

12:6 Cry out and shout for joy, O citizens of Zion, for the Holy One of Israel acts mightily among you!”

The citizens of Zion are the Jewish messianic believers who will live in Jerusalem during the Millennial Kingdom. They will sing the good news of Immanuel to the Gentile nations. The Holy One is Immanuel. Immanuel is Jesus. During the Millennial Kingdom, Immanuel will be living in Jerusalem.