Goulburn-Murray Water (G-MW) has confirmed that G-MW has received nearly a third fewer allocation trades than for the same time last year, but nearly half of these trades have involved allocation moving into G-MW's region - a more than 20-fold increase for the same time last year.
According to G-MW Executive Manager Strategy and Stakeholder Affairs Garry Smith, G-MW is continuing to receive 10-15 water share transfer applications each day, with more than 1,800 transfers processed in the first four months of the 2007/08 season.
"We are currently processing water share transfers within Victoria within 5 business days, and between authority transfers are being processed within 7-10 days. These turn around times clearly reflect the improved processes and our customers growing familiarity in accurately completing their transfer applications," said Mr Smith.
According to the Victorian Water Register, the 4 % limit on net trade out of an irrigation area is yet to be reached in the Shepparton and Murray Valley Areas for high reliability water shares.
G-MW has received just over 2,100 allocation trades this season, compared to 3,000 at the same time last year, with nearly half the trades involving allocation trade into G-MW's region.
"This time last year prices were generally more than $1000/ML and we saw a lot more trade activity - with the majority of trades from our region to SA and lower Murray irrigators. This year prices are around the $400 to $500/ML range and the dynamic has reversed - our customers are buying in allocation," said Mr Smith.
At 1 November last year, the Murray system had a 20% allocation compared with 19% this year. The Goulburn system had a 29% allocation compared to only 14% this year.
"Carryover has also allowed customers to plan for their early season needs, and is another factor impacting on overall trade activity," said Mr Smith.
Murray system customers entered the 2007/08 year with more than 160,000 ML of carryover, equivalent to 12% of allocation. On the Goulburn system customers carried over 96,000 ML, equivalent to approximately 9% of allocation.
Mr Smith also urged all customers to check that the water they purchase can actually be delivered to their property when they need it.
"We encourage all customers to continue to discuss their water plans with their local G-MW team to make sure they receive accurate and up to date information,' said Mr Smith.
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