Basslink Failure Cost $560m and rising
Source: The Age, 2 June 2016
The economic cost of the failure of the Basslink power cable is more than $560 million and still rising, but the remedy to avoid a repetition of the scenario doesn't lie in an expensive second cable.
The sudden breakdown of the cable on December 20 cut the only high-voltage electricity transmission cable between the mainland and Tasmania, sending wholesale power prices up by more than 350 per cent in the March quarter.
Wholesale power prices in Tasmania averaged $176.92 per megawatt-hour in the March quarter, including surges to as high as $257.35/MWh. The state's power crisis has since been alleviated by rains which helped restore depleted water levels at Hydro Tasmania's hydroelectric dams.
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