Hydro Tasmania is still owed $25.25 million from Basslink as a result of the 2015 cable failure, with Hydro executives questioned about whether the organisation would see the money after Basslink recently entered voluntary administration.
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Basslink has $630 million in debt - 16 per cent of which has been acquired by gas pipeline owner APA - and KPMG has been appointed as the receiver.
In 2020, an arbitrator ordered Basslink to pay the Tasmanian Government and Hydro $70 million as a result of the 2015 cable failure. A standstill agreement expired in October, prior to Basslink entering administration.
Hydro acting chief executive officer Ian Brooksbank faced questioning in the Legislative Council on Thursday about whether Hydro would receive the money given the receivership, expected to last two years.
He said Hydro was owed $25.25 million, and KPMG had given assurances that the cable would continue operating during the receivership period.
"Suffice to say I have been in contact with the receiver on a number of occasions, and outlined both Hydro's position and how I, as the acting CEO, would like to work with KPMG during this receivership process," Mr Brooksbank said.
"As we receive, we will be bound by our agreement with KPMG. Given the timeframe, we will have an annual report that will be published later next year, and within that any flows and updates in respect to Basslink will be disclosed as required by accounting standards and the auditor.
"In the interim, in reality, we're a month or two away from there being progress enough to understand what mechanism the receiver is going to work through."
APA's acquisition of a portion of the debt meant it, in effect, replaced a bank as a financier, but Hydro would continue to go through KPMG.
Resources Minister Guy Barnett said the government had no intention of purchasing the Basslink cable or any of its debt.
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