Both sides back second Bass Strait cable

Experts have given the thumbs up to a proposed second Bass Strait electricity cable that has an estimated price tag of $1 billion.

The feasibility study result means both Labor and the coalition are now backing the Basslink connector, sharing the view its construction will be good for jobs, promote renewable power generation, and the finished product will future-proof Tasmania's energy needs.

"A re-elected Turnbull coalition government commits to supporting the building of a second interconnector, subject to the final business case which we expect to be positive based on the interim report," Environment Minister Greg Hunt said on Tuesday.

It comes less than a week after Opposition Leader Bill Shorten said a Labor administration would stump up $5 million for a business case and thereafter commit to funding $500 million of the construction price.

The proposal has gained traction after Tasmania was recently crippled by a costly energy supply crisis as the existing cable was damaged and inoperable, and record-low rainfall diminished dam levels affecting the ability to produce hydro-electricity.

"A second interconnector would play an important role for Tasmania's long-term energy security and help drive the development of Tasmania's world-class renewable energy resources," Mr Hunt said.

Tasmania's Liberal government welcomed news of the positive recommendations, citing early estimates that a second cable could attract up to $3 billion in renewable energy investment.