APA Group (ASX: APA) has received the Australian Energy Regulator’s (AER) final determination on its Basslink revenue proposal, marking a key update in APA Group news. The decision grants total revenue of $459.5 million over four years, from 1 Jul 2026 to 30 Jun 2030.
  
Figure 1: APA Group corporate branding highlighting its role as Australia’s energy infrastructure partner [APA Group]
This outcome is a major milestone for APA energy infrastructure. Basslink remains the only electricity interconnector linking Tasmania and Victoria. With regulatory clarity now in place, the asset transitions from a market operator to a fully regulated entity.
APA Basslink Announcement: A New Operating Model Takes Shape
Under the APA Basslink announcement, APA Group will cease trading Basslink as a Market Network Service Provider on 30 Jun 2026. From 1 Jul 2026, the asset will operate as a regulated Transmission Network Services Provider.
This structural shift moves Basslink into a more predictable revenue framework. It reduces exposure to market volatility and supports more stable long-term returns for APA energy infrastructure investors.
A Multi-Year Journey to Final Approval
APA Group first submitted its Basslink revenue proposal in September 2023. The Company made further revisions in August 2025 following an extensive stakeholder consultation process that involved energy consumers, regulators and market participants.
Figure 2: APA Group energy infrastructure assets, including gas-powered generation and transmission facilities [APA Group]
After receiving the AER’s draft determination in September 2025, the Company submitted a revised proposal focused on delivering reliable and efficient operation of the interconnector. That objective has now been achieved. The APA Basslink announcement on 27 Feb 2026 marks the formal close of a two-and-a-half-year regulatory process.
APA Group CEO Adam Watson on the Basslink Revenue Outcome
Adam Watson, CEO and Managing Director of APA Group, welcomed the outcome warmly. He noted the decision delivers long-term certainty for energy consumers and provides clarity for APA investors planning around the Company’s asset base.
Figure 3: APA Group CEO Adam Watson, who welcomed the Basslink revenue determination outcome [Australian Financial Review]
Adam Watson emphasised that Basslink plays a central role in supporting energy security across both Tasmania and Victoria. He confirmed the Company is well-prepared for the 1 Jul 2026 transition to a regulated Transmission Network Services Provider, describing the outcome as a positive step for all stakeholders involved.
Share Price Performance
APA Group shares are currently trading at $9.175 per share. The Company carries a market capitalisation of $11.91 billion, reflecting its scale as one of Australia’s largest listed energy infrastructure businesses.
Figure 4: One-year share price performance of APA Group (ASX: APA) showing recovery in investor sentiment [ASX]
The 52-week range sits at $7.300 to $9.490 per share. That range tells an interesting story. The stock has moved 26% from its 52-week low, signalling a meaningful recovery in investor sentiment over the past year.
The current price of $9.175 sits close to the 52-week high of $9.490. That proximity suggests the market is pricing in improving fundamentals for APA energy infrastructure, including the regulatory certainty now delivered by the Basslink revenue determination.
Investor Outlook
The AER’s final determination removes a key area of regulatory uncertainty for APA Group. A defined four-year revenue pathway of $459.5 million provides clearer visibility on earnings contribution from the Basslink asset, supporting more confident long-term planning for both the Company and its investors.
For investors tracking APA Group news, the transition to regulated status is a structural positive. It firmly aligns Basslink with APA’s broader model of owning and operating long-life, regulated energy infrastructure across Australia, a model that has consistently supported reliable cash flows and investor returns over the long term.3;2
About APA Group
APA Group is a leading ASX-listed energy infrastructure business and one of Australia’s most significant owners and operators of energy assets. The Company’s portfolio is valued at more than $20 billion and spans gas transmission, processing, compression and storage infrastructure across the country.
Through its gas-powered and renewable energy assets, APA Group generates electricity that powers Australian communities. The Company also owns and operates battery storage and electricity transmission infrastructure, including the Basslink interconnector between Tasmania and Victoria.
Figure 5: APA Group construction and energy infrastructure development activity across Australia [APA Group]
APA Group delivers around half of Australia’s domestic gas through more than 15,000 kilometres of gas pipelines that the Company owns, operates and maintains. This extensive network positions APA energy infrastructure as a foundational part of the nation’s energy supply chain.
APA Infrastructure Limited, a wholly owned subsidiary of APA Infrastructure Trust, serves as the borrowing entity of APA Group.
FAQ
Q1. What is the Basslink revenue determination?
Ans. The AER approved total revenue of $459.5 million for Basslink over four years, from 1 Jul 2026 to 30 Jun 2030.
Q2. What changes for Basslink from 1 July 2026?
Ans. Basslink transitions from a Market Network Service Provider to a regulated Transmission Network Services Provider.
Q3. Why does this matter for APA Group?
Ans. The APA Basslink announcement provides long-term revenue certainty and supports stable returns for investors in APA energy infrastructure.
Q4. When did APA first submit the revenue proposal?
Ans. APA Group submitted its initial revenue proposal in September 2023, with updates made in August 2025.
