Boost for northern Victorian water market

Irrigators and farmers facing continued dry conditions in Northern Victoria will have the option of purchasing additional water, thanks to the Victorian Government.

Victorian Minister for Water Lisa Neville said the government would be making up to 14 GL available after it was identified as no longer required by Connections for irrigation modernisation projects.

The additional water will be offered up for sale on the northern Victorian water market through selected brokers from late March to June 2019.

This is on top of the Northern Victorian Resource Managers recent seasonal determination for Goulburn allocations which have now reached 100 per cent.

Victorian Minister Neville has also required 75 gigalitres owned by Melbourne water corporations to remain in northern Victoria and be made available to irrigators through the water market, as well as a further 10 GL recently identified as available by the Victorian Environmental Water Holder as part of their trade strategy.

All market participants, including water corporations and other government agencies, are subject to the same set of rules and must act with transparency and behave in a way that will not distort the water market for others.

In line with this, the water will be packaged into smaller bundles across multiple brokers so that as many market participants as possible will have the opportunity to purchase the water.

The Victorian Government’s efforts to improve regional water efficiency and productivity are continuing with the landmark $2 billion Connections Project – which is aiming to save 429 GL of water.

The Reset Delivery Plan has the project on track, on budget, and already delivering for local communities – with an estimated 4150km of channel expected to be modernised over the course of the project, including the installation of new water meters.

Source: Vic Government