The Victorian Government has refined its controls on some of Victoria's allocation trade to protect ongoing allocations to Victorian water entitlement holders.

This removes the need for ad-hoc suspensions which were necessary in the last two autumns, because of high storage levels and high use of carryover.

The new controls apply to trades of water allocation –

from the Goulburn, Campaspe or Loddon systems to either the Victorian River Murray system or to interstate; and

from New South Wales to Victoria (from 10 January 2013).

The controls are necessary to prevent situations where, when a trade occurs, the increased obligation to deliver water to users is not accompanied by storages receiving a matching secure volume of water. If there is no matching volume of water, there is less water available for new allocations.

Further details are available in a fact sheet here and the attached explanatory note.

Read more: Refinement of Victoria's allocation trade

A new carryover calculator tool is now available to help you improve your understanding of how the carryover rules in northern Victoria work in different scenarios

The Minister for Water has announced the outcomes of the 2012 carryover review. To find out more click here.

The Victorian Annual Water Trading Report 2011/12 is now available.

Download PDF Victorian Annual Water Trading Report 2011/12 (PDF - 1,970 KB)

Users are reminded that they can find allocation trade prices here and water share transfer prices here.

Allocation account statements for 2011-12 are now being mailed to Victorian entitlement holders. For more information click here.

The 2012/2013 ballot process for applications affecting the 4% limit on trade out of irrigation areas was completed on 11 July 2012. The current status of the limit can be found here.

The Minister for Water has approved changes to the trading rules to:

  1. Recognise that duties previously undertaken by Northern Victoria Irrigation Renewal Project (NVIRP) will now be done by Goulburn-Murray Water (G-MW) on or about 1 July 2012 2.
  2. Allow exemptions to the 4% limit for certain G-MW water share purchases.

The new exemption requires that:

  1. The water share must have been associated with relevant land for 12 months - to prevent wheeling of a water share from another place in order to gain access to a G-MW sale.
  2. G-MW states that the purchase is needed to reconfigure irrigation infrastructure works and connections to land.

The updated trading rules have been updated and are available below.

Download PDF Trading rules - updated 26 June 2012 (PDF - 114 Kb)

The Minister for Water has recently made a minor amendment to the carryover declaration to simplify the carryover provisions in the Murray, Goulburn and Campaspe systems. A copy of this amendment can be viewed below.

Download PDF Amendment to carryover for water shares in the Murray, Goulburn and Campaspe water systems 2012 (PDF - 536 Kb)

What does this amendment do?

This amendment will simplify how evaporation is accounted for to make the carryover rules easier for water share owners to understand.

From the end of the 2011-12 season the 5% deduction for evaporation that is applied to any unused water that is carried over will be calculated on 30 June, rather than 1 July.

This does not change the amount of water deducted from accounts for evaporation on unused allocation that is carried over.

On the Murray, Goulburn and Campaspe systems, this minor change will help to simplify the carryover rules. It will mean that water users will always have the full volume of the high- and low-reliability water shares linked to their allocation bank account available before any water is quarantined in their spillable account.

On the Loddon, Broken and Bullarook systems, this will not alter how carryover works in water users' accounts.

More information on the carryover rules that apply in your water system are available here

A recent presentation on carryover provided to the annual water trading briefing in Shepparton is available below.

Download PDF Carryover presentation - May 2012 (PDF - 1,766 Kb)

This presentation includes explanations of key aspects of the carryover rules and examples of carryover in practice.

Additional information is now available on the Copy of Record for water shares in the Murray, Goulburn and Campaspe water systems. More information is available in the document below.

Download PDF Updated information on water share Copy of Record - June 2012 (PDF - 707 Kb)

The Minister for Water has approved changes to the trading rules to suspend some allocation trade in order to protect next season's allocations to Victorian water entitlement holders.

The temporary suspension applies to trade of water allocation -

  • from New South Wales to Victoria; and
  • from the Goulburn, Campaspe and Loddon systems to the Victorian River Murray system, or to interstate.

The suspension is the same as for last year. It applies to applications received after close of business on 19 March 2012, and will be in place until 30 June 2012. Further details are available in the attached explanatory note and media release.

Download PDF Temporary trade suspensions - explanatory note (PDF - 112 Kb)

Download PDF Victoria suspends some water allocation trade (PDF - 51 Kb)

An update on the progress of the Carryover Review Committee is available below.

Download PDF Carryover Review Committee - Chair's Message May 2012 (PDF - 1608 Kb)

More information on the review is available here.

From 1 June 2012 additional information will be included on the Copy of Record for Murray, Goulburn and Campaspe water shares to provide better information for buyers on the potential impacts of carryover recorded against a water share. Updated information is now available here

A fact sheet about transferring water with land is now available here.

Download PDF Transferring water entitlements fact sheet (PDF - 398 Kb)

Victorian Water Register fees for some applications will increase on Sunday 1 July 2012. For more information click here.

The Minister for Water has announced that carryover rules will remain the same for the coming 2012-13 season.

Download PDF No change to carryover rules for 2012-13 (PDF - 48 Kb)

A review of carryover provisions is continuing, but any changes out of this process will not come into place until 1 July 2013.

A review of how spillable water account provisions are working on the Murray, Goulburn and Campaspe systems is being carried out. More information is available in the document below.

Download PDF Carryover review in 2012 (PDF - 39 Kb)

A report on water trade in Victoria in 2010/11 is now available here

The Minister for Water has approved changes to the trading rules to allow additional exemptions to the 4% limit for certain Commonwealth purchases. The new exemptions are available to -

  • transfers to the Commonwealth that were refused in the July 2011 ballot due to the 4% limit - these can now be approved if a new application is submitted for the same transfer by 28 February 2012;
  • other transfers to the Commonwealth arising from tenders it conducted in 2010/11 - applications must be submitted by 28 February 2012;
  • transfers to the Goulburn-Broken CMA as part of an expanded on-farm savings program.

These exemptions have been made as part of the Victorian Food Bowl Modernisation Agreement announced on 18 October 2011. They will allow many sellers with Commonwealth contracts to finalise their arrangements. The Trading Rules have been updated and are available here.