Hydro Tasmania will not forego future profits as a result of the termination of the Basslink Service Agreement, the Public Accounts Committee has heard.
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The committee on Friday held a hearing in regards to the termination of the agreement by Hydro Tasmania in February after Basslink Pty Ltd was found to be in breach of key provisions in the agreement.
Hydro Tasmania interim chief executive Ian Brooksbank told the committee the company had not paid money owed to Hydro Tasmania and the government and had failed to meet ongoing operational requirements.
Prior to the termination of the agreement, administrators were appointed by BPL's directors in November.
The termination of the agreement was taken to the Federal Court by BPL.
Mr Brooksbank said a directions hearing over the dispute was to be held on August 1, after which a full timetable for the hearings would be established.
He said the Basslink Operations Agreement remained live and had not been impacted by any recent developments.
He said company administrators had advised of multiple approaches by interested parties who wanted to recapitalise the business.
Renewables, Climate and Future Industries Tasmania chief executive Anton Voss said Basslink was the only non-regulated interconnector in the country and there was an intention for it to become a regulated asset.
"For Basslink to become a regulated asset, its primary source of income would be by way of regulated customer charges," he said.
"It's premature to speculate on the nature of the price outcomes that could be experienced by Tasmanian customers as a result of regulation being approved - if it is approved."
Hydro Tasmania chairman Grant Every-Burns said Hydro remained willing to discuss with receivers an alternate commercial model and ongoing arrangements for Basslink.
As Hydro Tasmania no longer pays any fees under the BSA, it does not benefit from any revenue from Basslink's operation in the National Electricity Market.
Mr Voss said Hydro Tasmania would not forecast revenue projections from Basslink's interaction with the NEM.
He added it would not be correct to say the state-owned company would forego future profits.