Goulburn-Murray Water today confirmed water trading limits have now been reached in 6 of 8 irrigation areas as more than 600 of the 877 ballot applications received in this year's ballot have now been processed.
G-MW Managing Director David Stewart confirmed 4% water trading limits on high-reliability water shares out of the Pyramid-Boort, Murray Valley and Shepparton irrigation areas had now been reached.
"In addition to the 4% limits that G-MW announced had been reached in the Torrumbarry, Central Goulburn and Rochester irrigation areas, we confirm today the 4% limit on the trade of high reliability water shares out of the Pyramid-Boort, Murray Valley and Shepparton irrigation areas has now also been reached. The 4% limit is yet to be reached in Campaspe and Nyah/Tresco/Woorinen irrigation areas," Mr Stewart said.
"We will continue processing all remaining applications, but if the volume of the application will cause the 4% limit to be exceeded we must refuse it," said Mr Stewart.
"For this reason small available volumes may remain in some of the irrigation area 4% limits. This means that some applications for very small volumes further down the queue can still be approved if opportunity remains under the limit when the application is processed," Mr Stewart said.
"G-MW have processed more than 600 applications to date representing a volume of around 80,000 ML of water," Mr Stewart added.
Of the 877 applications, 791 were for high-reliability water shares and the remaining 86 for low-reliability water shares.
G-MW expects it will take another three weeks to complete processing of high reliability ballot applications and will then move on to processing the low reliability ballot. Applicants will be advised of the outcome of their application as it is processed.
"Further opportunity to trade out of irrigation areas may arise throughout the season if water shares are re-associated to land in the area," Mr Stewart said.
"Updates on water trading around the 4% limit are available from the Victorian Water Register. Information is updated live as applications are processed by G-MW and interested parties should refer to the current status of the limits prior to lodging applications which affect the caps," Mr Stewart said.
For further information on ballot and water trading information visit www.g-mwater.com.au/customerservices/water-trading
For further information on the current status of the 4% limit, go to www.waterregister.vic.gov.au/Public/Reports/WaterTradeFourPercent.aspx
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