G-MW Water Trading Update: G-MW completes processing of all ballot applications
This week Goulburn-Murray Water (G-MW) completed processing all applications received as part of the 2009/10 ballot including the 280 applications retained in anticipation of the 10% limit being repealed. Customers should have received notification of the outcome for their application by letter or through their broker or solicitor.
The Victorian Water Register website also shows that the 4% limit on the volume of water that can be traded out of an Irrigation Area has been reached for all of G-MW irrigation Areas for high-reliability water shares (HRWS) except Woorinen, Nyah and Tresco and for low reliability water shares (LRWS) in the Murray Valley irrigation Area.
G-MW Water Administration Manager Ruth McGrath said G-MW had processed all retained ballot applications as quickly as possibly following the repeal of the 10% limit earlier this month with nearly 70% of the ballot applications approved.
"We recognise customers want answers on their trades as quickly as possible. We have processed more than 1800 water share transfer applications in the past 3 months - that's more than half the number we processed for all of 2008/09," said Ms McGrath.
G-MW has received more than 850 water transfer applications since the ballot including applications to transfer water shares to the Commonwealth Government through its Water Buyback Program.
If an application to sell to the Commonwealth cannot proceed because it would exceed the 4% limit, it is assessed to determine whether it will qualify for an exemption from the limit under the NVIRP criteria.
"Not all applications to sell to the Commonwealth will receive an exemption from the 4% Area limits," explained Ms McGrath.
"We are continuing to receive applications from the Commonwealth and expect they will achieve their 60,000 ML target for this initial round," said Ms McGrath.
G-MW is urging customers to check the Water Register Website (www.waterregister.vic.gov.au) before submitting applications to transfer water shares.
"All applications submitted for processing incur an application processing fee, including applications that cannot be approved because they would cause the limit to be exceeded. For this reason customer should check the status of the limits on the Water Register website before submitting their application," said Ms McGrath.
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Media Contact: Linda Nieuwenhuizen
Position: Manager Stakeholder Relations
Telephone: 03 5833 5776 or 0412 183 792
