Basslink is expected to return to service two weeks ahead of schedule.
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In a statement, Basslink said the interconnector is expected to back up and running on September 30.
Previously, the return to service date was mid-October.
A failure in the low voltage cable caused the system to trip on August 24, 2019.
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The identified failure was located in an above ground section of the cable in the transition station in Gifford, Victoria.
Basslink's telecom's cable which provides broadband services to internet providers was not impacted by the outage.
Basslink chief executive Malcolm Eccles said he was pleased the interconnector will resume normal operations two weeks earlier than expected.
"This is a credit to our repair team, who continue to work around the clock and have demonstrated their unwavering commitment to get the electricity interconnector back online as soon as possible," Mr Eccles said.
The latest outage has again prompted concern as to the viability of the cable.
In the twelve months to June, the interconnector had a total of six outages, four of which were unplanned.
An outage in December 2015 took six months to repair and contributed to the state experiencing an energy crisis.
Addressing the most recent outage last month, Energy Minister Guy Barnett said the state's energy position was secure with Tasmania's hydro storages at 45.5 per cent.