Responses from a wide range of water market participants have been consolidated into a closing the loop consultation summary report.
This report shows that those who participated were overwhelmingly in favour of greater transparency in certain aspects of water markets with an appropriate level of protection for irrigators’ commercial privacy.
Following consultation, a range of actions to improve transparency:
- Publish the names of companies who own two per cent or more of water in a system on the Victorian Water Register. The government will also pursue legal changes to report the same information for individuals with greater than two per cent
- Report on non-water users in the market by tracking how they use their accounts and pursue legal changes to allow publication of information about allocation accounts with more than 20 trades per year
- Introduce new requirements to provide more clarity on different types of trade, so it’s clear what kind of purchase or transfer has occurred and at what price
- List the names of water brokers who meet Government standards and auditing requirements associated with the use of Victoria’s water broker portal on the Victorian Water Register website.
We invite you to read the closing the loop report by clicking here.
Greater transparency for Victorian water markets
DELWP has been consulting with the community on the aspects of transparency that matter most to them.
Delivering For Irrigators And Protecting The Goulburn
New measures to secure the long-term health of the Goulburn River and provide a level playing field for all water users in northern Victoria will come into effect in December.
Improving the transparency of our water markets
The Victorian irrigation community is being asked to consider how the current water markets can be made more transparent, in a new options paper released today.