Irrigators in the Goulburn-Murray Irrigation District (GMID) will share in further benefits from the sale of water shares thanks to the savings created through the Goulburn-Murray Water (GMW) Connections Project.
The Connections Project was Australia’s largest water savings project, creating 433GL in annual water savings.
In 2022, these savings were passed on to irrigators in the GMID in the form of either water shares or a credit on their fixed charge accounts.
In February 2022, the Minister for Water announced an additional 2GL of water had been recovered through the Connections Project.
A third of these savings will now be passed on to irrigators in the GMID through credits on their accounts following the sale of water shares. The remaining two-thirds, nominally shared between the other original partners in the project – the environment – represented by the Victorian Environmental Water Holder (VEWH) and Melbourne retail water corporations – has been set aside for Traditional Owners in northern Victoria.
The water shares will be listed for sale this month, via a public online auction through RuralCo.
GMW managing director Charmaine Quick said the sales had been timed to provide a positive outcome for all.
“The sale of the shares will be conducted in line with an independently developed trading strategy,” she said.
“The strategy has been designed to maximise returns for beneficiaries while minimising market disruption and ensuring open accessibility to the trade opportunity for all interested parties.”
The water share parcels range in size from 1.4ML to 190.8ML and are available across Goulburn, Murray, Campaspe and Loddon trading zones. Each auction will be open until 1 February 2023.
Financial benefits arising from the water share sale will be distributed as a GMW account credit for all eligible recipients of the irrigators’ share, proportionate to holdings of delivery share on census date (1 October 2021).
For more information head to https://www.g-mwater.com.au/policy-and-projects/irrigators-share-distribution-project