The company's chief executive Malcolm Eccles said in a statement: "We are pleased that the Basslink Interconnector, with the help from our stakeholders, including Hydro Tasmania, will resume normal operations two weeks earlier than expected.
"This is a credit to our repair team, who continues to work around the clock and has demonstrated their unwavering commitment to get the electricity interconnector back online as soon possible.”
The Interconnector, an undersea data and telecommunications cable that connects Tasmania to the Australian mainland, is comprised of a high-voltage direct current cable, a low-voltage metallic return and a fibre optic cable.
The failure was located in an above-ground section of the cable in the transition station in Gifford, Victoria.
At the time of the incident, Basslink notified the Australian Energy Market Operator that the Interconnector would be offline until mid-October and said it would be undertaking more testing to see if the date for returning to service would change.
The telecommunications cable was not affected and has continued to operate as usual.
Basslink and Hydro Tasmania are locked in a dispute over a previous failure in December 2015. The company issued a notice of dispute to Hydro Tasmania a little over a year ago.
A spokesperson told iTWire that there had been no further development in the matter since then.