2012/13 Carryover simulators
Download a copy of the 2012/13 season carryover brochure
G-MW has developed an extensive guide to understanding carryover for the Goulburn, Broken, Campaspe, Loddon, Bullarook and Murray regulated river systems. See the information below or download the carryover brochure to help plan your carryover for the 2012/13 season.
Carryover Brochure
Quick Links
1. Goulburn, Murray and Campaspe Systems
2. Broken, Loddon and Bullarook Systems
Some definitions
Allocation is the volume of water available to entitlement holders. It is the total of the water share volume multiplied by the seasonal determination, plus any unused allocation carried over from last season, less usage, plus the net of all allocation trades.
Carryover is an arrangement that allows unused water from one season to be taken into the next season for use or trade.
Allocation bank account (ABA) - Allocations made throughout the season are credited to an allocation bank account. The balance of an allocation bank account is the amount of water available to the owner(s) of the linked water share for the current season.
High-reliability water share (HRWS) is a water share against which seasonal determinations are made as a first priority.
Low-reliability water share (LRWS) is an entitlement to a share of the water in a declared water system. It is called low-reliability because the seasonal determinations are less likely to reach 100% than for high-reliability water shares because high-reliability water shares have a higher priority.
Linked allocation bank account - an allocation bank account linked to a water share, limited term transfer of a water share or supply by agreement. Water that is not in a linked allocation bank account is not eligible for carryover.
Spillable water is additional water above your full entitlement volume. This water cannot be used or traded until the Resource Manager declares a low risk of spill. It is only lost if the dams spill.
Spillable water account (SWA) is a feature of your existing allocation bank account where your spillable water is recorded. It keeps track of casual access to storage space and any water which may be lost if the dams spill.
Low risk of spill declaration is made by the Northern Victorian Resource Manager at a point in the season when it is determined that there is a low risk of the storages spilling. If you have water in your spillable water account, the declaration triggers the transfer of your spillable water account balance into your allocation bank account for use and trade.
Carryover - Goulburn, Murray and Campaspe Systems
End of 2011/12 Season
Is the unused allocation you want to carry over in a linked allocation bank account?
Your unused allocation must be in an allocation bank account linked to a water share, supply by agreement or active limited term transfer of a water share on 1 July to be eligible for carry over. If your unused allocation is not in a linked allocation bank account it will be written off at the end of the season.
It is important to make sure your unused allocation is in the allocation bank account linked to the water shares you want your carryover to be recorded against.
If you are unsure about your options, please seek advice from a professional adviser or broker so that you make the best arrangements for your individual situation.
How much allocation can I carry over?
All the allocation in your linked allocation bank account on 30 June 2012 is eligible for carryover - there is no maximum.
From this season, 5% of your end of 2011/12 season balance will be deducted from the volume of unused allocation to allow for evaporation in storage in 2012/13.
This ensures that allocation up to the full volume of any high and low-reliability water shares linked to your allocation bank account will be available before any volume is quarantined in your spillable water account.
Does selling a water share affect my eligibility for carryover?
If there are no active water entitlements linked to your allocation bank account at 30 June, then you cannot carry over unused allocation into the next season. If you have sold water shares during 2011/12 you should check if your allocation bank account is eligible for carryover.
Start of 2012/13 Season
How much allocation can I trade or use at the start of the season?
From 1 July 2012, you can immediately access any carryover and new season allocation up to your full entitlement volume. This water is recorded in the available balance of your allocation bank account.
Any additional carryover or new season allocations in excess of 100% of your entitlement volume will be quarantined in a spillable water account.
Can I access the allocation in my spillable water account?
The allocation in your spillable water account cannot be used or traded until there is a declaration that there is a low risk of the storage spilling. When the declaration is made, the remaining volume in the spillable water account is added to the available balance of your allocation bank account.
What if I buy additional allocation early in the season?
Any allocation traded into your account after 1 July 2012 will automatically be added to the available balance of your allocation bank account and is available for immediate use.
If I use or sell the allocation early in the season, can I top up my allocation bank account balance from my spillable water account?
No. Until the low risk of spill declaration, you can only use or trade the volume in the available balance of your allocation bank account.
Spills
How much will I lose if the storages spill?
If there is a spill before the low risk of spill declaration is made, you will lose some of the balance recorded in your spillable water account.
All spillable water account balances will be reduced in proportion, in line with the volume of the spill. Deductions are made at each allocation announcement until the declaration. If there is a major spill, it is possible that all spillable accounts may be reduced to zero.
A spill has no impact on the volume available for trade or use in your allocation bank account. Once allocation is recorded as available in your allocation bank account, it stays there until it is used or traded.
A spill at which storage counts as a spill?
• Lake Eppalock for the Campaspe system
• Victoria's share of Dartmouth Dam for the Murray system
• Lake Eildon for the Goulburn system
Spills at other storages in your system have no impact on your spillable water account volume.
If G-MW pre-releases water does this affect my spillable water?
If G-MW has to make pre-releases after 1 July 2012 to slow the rate of filling the storages, the released volume is treated as a spill and is proportionally deducted from your spillable water account balance.
Pre-releases do not affect the volumes available in your allocation bank account.
What is the risk of losing my spillable water as a result of a spill?
With storages at, or close to100% capacity, there is a much greater risk of the storages spilling in 2012/13 than was the case last year.
The Resource Manager has developed probability of spill indicators to help you understand the likelihood of spill and make informed decisions about your carryover.
Probability of spill indicators for 2012/13 as at 1 April 2012:
- Murray - Dartmouth Reservoir - High
- Goulburn - Lake Eildon - Very High
- Campaspe - Lake Eppalock - Very High
What happens if the storage spills after the low risk of spill declaration has been made?
Once the Resource Manager has declared a low risk of spill, all of the remaining spillable water account balance is made available in your allocation bank account and your spillable water account balance is reduced to zero. A spill later in the season has no impact on the volume in your allocation bank account.
When will the Resource Manager make the low risk of spill declaration?
On 1 July, the Resource Manager will assess current volumes in store, forecast inflows and expected releases. If the risk of spill is still greater than 10%, no declaration will be made. This process will continue on the 10th of each month (or next business day) until the risk declines to a low level.
The Resource Manager will declare a low risk of spill once it is determined there is a low risk - less than 10% probability - of the storage spilling later in the season. This depends entirely on seasonal conditions.
The Resource Manager will endeavour to make the declaration as early as possible in the season.
Fees and Charges
Will I be charged for the volume held in my spillable water account?
You will only be charged for the volume that is returned from your spillable water account back into your allocation bank account after the low risk of spill declaration is made.
You do not pay charges for any volume that is deducted from your spillable water account due to a spill.
Why do I get charged for extra spillable water?
This charge ensures that water share owners who access more storage than their entitlement volume contribute their fair share of the cost of operating and maintaining the storages. The revenue generated from spillable account fees offsets revenue recovered from annual fixed entitlement storage fees.
Who pays for spillable water charges?
The spillable water account fee is charged to the owner of the water share when the first variable account is issued, not the date the declaration is made. If the ownership of a water share changes before the account is issued, the new owner is responsible for paying the account.
The following fees are an indication of the spillable water account charges you may receive based on proposed 2012/13 rates (subject to approval). These rates are the same as the low-reliability entitlement storage fee.
| |
Murray System
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Goulburn System
|
Campaspe System
|
| $/ML transferred from SWA into ABA |
$4.80
|
$3.70
|
$11.00
|
Accessing your Water
How soon can I have my carryover delivered?
Diverters on all the regulated river systems will be able to access their carryover from July 2012. G-MW will consider requests for the delivery of carryover to customers on the channel network and pumped districts before 15 August 2012 and will endeavour to make deliveries where possible, but cannot guarantee delivery until the system is in operation.
What happens to my allocation, carryover and spillable water if I sell my water shares?
Allocation, carryover and spillable water are all part of the balance in your allocation bank account. Even if you sell your water share, you retain your allocation bank account and any remaining balance in your ownership.
Carryover - Broken, Loddon and Bullarook Systems
Is your allocation in a linked allocation bank account?
To carry over your unused allocation it must be held in an allocation bank account that is linked to a water share, supply by agreement, or an active limited term transfer of a water share on 1 July 2012.
How much allocation can I carry over?
You can carry over a maximum volume equivalent to 50% of your high-reliability water share and 50% of your low-reliability water share.
Remember, the low-reliability and high-reliability water shares must be linked to the same allocation bank account which holds the allocation you want to carry over.
Do I need to apply for carryover?
No, unused 2011/12 allocation in a linked allocation bank account at 30 June 2012 will automatically carry over to the 2012/13 season, as follows:
- Your unused allocation will first be carried over and recorded against any high-reliability water share linked to the allocation bank account - up to 50% of your high-reliability water.
- Any additional unused allocation will then be carried over and recorded against any low reliability water share linked to the allocation account - up to 50% of your low-reliability water share.
- 5% is deducted from each water share for evaporation losses.
I have more allocation than I can carry over, what can I do with it?
If you want to carry over more allocation than the equivalent to 50% of the high-reliability water share and 50% of the low-reliability water share linked to your allocation bank account, you can transfer the extra allocation to another linked allocation account. Or you can use or sell this excess volume before the end of the 2011/12 season.
Unused allocation that is not in a linked allocation bank account will be written off and returned to the pool to meet needs for the 2012/13 season - including new season allocations.
How much allocation can I access at the start of the season?
You can access all water in your allocation bank account from 1 July 2012. This allocation is available for use or trade.
Will my carryover affect new season allocation?
If, during the course of next season, the sum of your high-reliability water share carryover (as at 1 July 2012) and 2012/13 high-reliability allocation reaches 100% of your high-reliability water share volume, you will not receive any further 2012/13 high-reliability allocation.
The point at which you stop receiving further allocation will not change if you sell or use allocation, or sell water shares during the 2012/13 season.
For example, if you carry over the equivalent of 50% of your high-reliability water share, you will start the 2012/13 season with 47.5% after the 5% evaporation allowance is deducted. Once the 2012/13 high-reliability water share allocation reaches 52.5% you will not receive further high-reliability allocation improvements for the remainder of the 2012/13 season. The same principle applies to low-reliability carryover.