Carryover 2010/11
What is carryover?
Carryover allows you to carryover your allocations and
water purchases from one season for use in the next season.
Why do we need carryover?
It allows you to manage risks for your business
and plan with certainty - you know you will have water for use* or trade
at the
start of the next season
Will carryover rules be different for 2010/11 season?
Goulburn, Murray and Campaspe
regulated systems:
Carryover rules will change for the 2010/11 season.
>More
Information
Ovens, King, Broken, Loddon and Bullarook regulated
systems:
Carryover rules will remain the same for the 2010/11 season.
>More Information
Groundwater
Carryover rules are being
established for a small number of groundwater management Areas. The
rules will
be communicated to these customers before the end of the season.
Carryover Goulburn,
Murray and Campaspe Irrigators
How has carryover improved for Goulburn, Murray and Campaspe Irrigators?
- All water
in your Allocation Bank Account (ABA) linked to water shares on 30 June
will automatically carryover
- You can
chose to start the season with the equivalent of a 100% allocation on
your
high and low reliability water shares - to trade or use*.
- There are
some new concepts
- Spillable Water Account (SWA)- If you carryover
allocation equivalent to more than 100% of your high and low
reliability
water shares, the extra water is quarantined in a SWA until the
declaration is made or the storage spills. If the storages fill
completely, water in SWAs will be the first water to spill - this
protects the existing entitlements
- Declaration - A declaration
is made by the Water Resource Manager when there is a low risk of this
spill happening.
- If your ABA is linked
to low and high reliability water shares, your carryover is recorded
against your low then high reliability shares
* trading rules and/or system operations permitting
When can I access my carryover?
From the start of next season you can access water in your ABA
equivalent to
100% of the high and low reliability shares linked to your ABA. If you
carryover more than this, the water above 100% is quarantined in an SWA
and is not
be available for trade or use until the Water Resource Manager (G-MW)
makes the
declaration. Once a declaration is made your SWA balance will be
available in
your ABA for trade or use*
When will G-MW make the declaration?
Seasonal conditions will determine when G-MW can make the
declaration. In dry years the declaration could be made as early as 1
July, in
wet years it may take until the end of the peak inflow period in
November.
What happens to my carryover when the storage
physically spills?
There is no impact on the water in your ABA. If the storage
spills then everyone ‘loses' the same proportion from their SWA and any
remaining water will be made available in your ABA for use.
What dam if they spill, will affect the water in my
SWA?
Goulburn system - Lake Eildon,
Campaspe system - Lake Eppalock, Murray system - Dartmouth Dam
If I buy water at the start of next season will
this impact on my carryover?
No - the carryover rules only apply to the allocation in
your ABA as at 30 June and allocation you receive in the 2010/11 season.
Can l trade or use water in my SWA?
No - water in your SWA cannot be used or traded until it
becomes available in your ABA after the declaration or spill.
Will there be a fee for SWA?
Yes, a fee will apply to each ML transferred from your SWA
back into your ABA. G-MW has proposed the following fees to the
Essential Services
Commission for 2010/11
|
System
|
Goulburn
|
Campaspe
|
Murray
|
|
$/ML transferred
from SWA into ABA
|
$2.87
|
$8.83
|
$3.25
|
Things to do before 30 June
Do I need to apply for
carryover?
No but you need to ensure the water you want to carryover
is in an ABA linked to a water share. If you have allocation in an ABA
which is not
linked to a water share it will be lost on 30 June 2010.
If you intend to carryover water
- Ensure the
water you want to carryover is in the correct linked ABA - if not
you will need to submit an application to transfer the allocation
before 18 June 2010.
- Since
carryover for Goulburn. Campaspe and Murray regulated system customers
will record against low then high you should check the water shares you
have attached to your ABA(s)
- We encourage you to seek professional advice on
your water plans from an experienced broker or adviser