THE state’s water regulator has announced changes to inter-valley trade rules in an attempt to give all water users and traders equal access to the commodity.
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WaterNSW today introduced a one-hour gap between notifying the public when the Murray-Murrumbidgee inter-valley Trade account is open and when it receives trade applications.
The change comes in the wake of last month’s inter-valley trade which saw one water broker successfully transfer the entire available trade limit within minutes.
WaterNSW has also established an online notification service, so registered users can receive email updates on trade account status.
The extended notification period means the WaterNSW website will update the most current inter-valley trade account balance at 9am (NSW time) each day, as per the current practice, but applications cannot be lodged until 10am. Applications received before 10am on that day will not be accepted.
Applications for water will still be processed on a first-come, first-served basis.
WaterNSW spokesperson Tony Webber said the changes followed outcry from last month’s inter-valley trade outcome which left multiple stakeholders questioning if the trading process properly balanced primary producers’ need for water against water traders’ business imperatives.
“While all trade activity last month was completely legitimate and above-board, with consideration of reasons associated with access to technology when the exact moment market data became available, this modification was implemented,” Mr Webber said.
The hour-long extension is effective immediately.
Mr Webber said the extension was the only change planned “in the immediate term”.
The inter-valley trade account balance can be viewed here.
To register for alerts contact the WaterNSW, 1300 662 077.
