Wikipedia
Basslink is a high-voltage direct current (HVDC) cable link crossing Bass Strait, connecting the Loy Yang Power Station, Victoria on the Australian mainland to the George Town substation in northern Tasmania. It can supply some of the peak load capacity to the mainland of Australia and take some of the excess base load capacity off the coal-fired generators on the mainland to supply Tasmania, leading to reduced pollution. Financial benefits from the Basslink investment included reduced or deferred need to invest in further base load generation facilities, and potential to profit from selling peak load power into a market in which prices are generally higher, and because the cable was also used to supply power to Tasmania in times of drought, as the majority of Tasmania's electricity generation is hydroelectricity. However, "Basslink-related costs have been around $130 million ($ nominal) greater than the actual revenue benefits". This was due to drought conditions reducing hydro production