Significant rainfall over the last week has slowed the drain on Hydro Tasmania's water storage levels, while Basslink cable experts continue to search for the exact location of a fault.

The Basslink cable connects Tasmania with Victoria and allows for the import and export of electricity.

Damage to the cable was discovered in December and since then Hydro has been forced to rely heavily on power generated from the dams.

Hydro Tasmania's dams had been dropping at about 1 per cent a week since the cable was damaged, but this week have remained steady at 18.9 per cent capacity.

A specialised ship is at sea with 60 experts on board to dig up the cable and find the damaged section.

Energy Minister Matthew Groom said he had been advised by Basslink they remained on track to fix the problem by mid-March, but the Government was preparing for the worst.

"There are risks," he said.

"This is a complex process that they're undertaking and they are doing it in difficult conditions."

Hydro Tasmania has begun operating the gas-fired Tamar Valley Power Station and spent $2 million securing 24 diesel generators in case of delays.

The containerised generators are costly to run and Mr Groom said they would not be used unless there were further delays to Basslink's repairs.

"They're judgments that have to be made," he said.

"Obviously Hydro Tasmania are the experts in this regard, they're closely monitoring the water storage levels.

"Those final judgements have not been made."

Call for an energy inquiry

The State Opposition has called for an inquiry into the circumstances surrounding the state's energy problems.

Labor spokesman David Llewellyn wants the committee to examine the original decision to sell the Tamar Valley Power Station.

"I think it would investigate issues such as the sale and perhaps pressure from the Government put on the Hydro to maximise dividends," he said.

The sale has now been suspended as the gas-fired station has been restarted up to help meet the state's energy needs.

Mr Groom said there would be a time to reflect on the broader circumstances.

"I think right now the focus is and should be on dealing with the immediate situation. We've got a serious and challenging situation and we need to be carefully monitoring it and planning for contingencies," he said.

The Government is also in talks with wind farm proponents as part of a broader strategy to ensure the state's future energy security.

Rains delay Trevallyn Dam works

Hydro Tasmania has been forced to stop work on a $6 million project replacing three valves at Trevallyn Dam because it is spilling over.

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Last week's heavy rainfall filled the dam in Launceston, causing it to overflow and flood the Cataract Gorge.

Project manager Andrew Rumsby said work would stop for about a week.

"When we saw the flood coming, we simply did what we had to do which was to calmly and sensibly pack up, secure the worksite, clear it out," he said.

"It's certainly an inconvenience, we'd like to be down there getting the job done and finished so that we can get out.

"We'll probably lose about a week, maybe a bit longer because of this flood but it's something we anticipated so we planned for it."

Floodwaters spilling into the gorge have engulfed the area's popular swimming pool forcing its closure.

Mayor Albert Van Zetten told the ABC it could be weeks before it was back in use.

Floodwaters have forced the closure of the Cataract Gorge swimming area. ( ABC News: Lauren Waldhuter )

"The pool now is underwater and we're not sure when it will be suitable again," he said.

"We're obviously encouraging people to not go anywhere near the water."

He said council would need permission from TasWater to fill the pool because of water restrictions in place.

"That's something we'll have to have a discussion about [with TasWater], that'll be a week or two down the track."