ELDERS LIMITED On 1 July, for the past two water seasons:
- WaterNSW has processed applications to transfer temporary water from 9:00 am.
- Victorian Water Register has processed applications to transfer temporary water from 10:00 am in 2021 and not until 2 July in 2020.
This enabled water holders in New South Wales to move temporary water from accounts 'above to below the Barmah Choke' and virtually shut out those water holders in Victoria.
The volumes transferred in the past two seasons were approximately 20,000ML and 31,000ML respectively. The difference in price of temporary water in the 'Above Choke' and 'Below Choke' market was between $20 to 100 per ML in the same period.
Late last month, the Victorian Water Register announced that applications would be processed from 12:05 am on 1 July, which wrestles back any advantage that NSW water holders had. It's estimated that there will be approximately 40,000ML available to transfer before the limit is reached. Elders Water Trading estimate this limit to be reached within 5 to 10 minutes.
The difference in price may not be as great with storages full and conditions expected to be wet next season, however, it's an illustration of the influences that can be placed within the market.
The Elders Weather outlook forecasts multiple cold fronts across southern and eastern Australia from 28 June to 2 July, with the potential for rain originating from the tropics and moving south from 13 to 22 June. In Western Australia (WA), the strongest cold fronts will start from 21 to 25 June.
Average temporary water price per zone GoulburnData provided by: Waterflo
MurrumbidgeeData provided by: Waterflo
Murray (above choke)Data provided by: Waterflo
Murray (below choke)Data provided by: Waterflo
For assistance with your water needs contact the Elders water trading team on
1300 220 214.
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Disclaimer
Elders Ltd. published this content on 09 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2022 07:11:04 UTC.
