Portfolio Management Statement for the Murrumbidgee 2012-13
Commonwealth Environmental Water Office
September 2012
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The following portfolio management statement is intended to provide guidance on the Commonwealth Environmental Water Office's potential approach to portfolio management in the Murrumbidgee catchment in 2012-13.
This statement will be updated during the year as the approach to portfolio management is adjusted in response to actual seasonal conditions. The next routine update is anticipated in November 2012, however further updates may be released in response to a significant change in circumstances.
Murrumbidgee River catchment
Photo by Simon Banks © CEWO
Date issued: 07 September 2012
Recent Water Availability
Total storage levels within the Southern Connected Basin are currently around 92 per cent and water availability is high.
| Entitlement type | Entitlement Held (GL) | Entitlement Held – Long-term Average Annual Yield (GL) | Carryover from 2011-12 (GL) | Water Available (GL) | Forecast Maximum Water Available in 2012-13(GL)1 |
|---|---|---|---|---|---|
| Murrumbidgee (High Security) | 1.6 | 1.5 | 0 | 1.5 | 1.6 |
| Murrumbidgee (General Security) | 167.1 | 107.0 | 41.8 | 145.3 | 166 |
| Murrumbidgee (Supplementary)3 | 20.8 | 2.9 | 0 | - | - |
| Murrumbidgee- Coleambally (conveyance) |
5.7 | 5.4 | 0 | 5.3 | 5.7 |
| Total | 195.2 | 116.8 | 41.8 | 152.1 | 173.3 |
| Total – Southern Connected Basin 2, 3 | 1,000.7 | 827.7 | 249.8 | 944.3 | 1,030 |
Note:
- 1 Total forecast water available in the Southern Connected Basin does not include allocation in spillable water accounts in Victoria.
- 2 Southern Connected Basin includes the following hydrologically connected catchments: Goulburn, Campaspe, Loddon, SA Murray, VIC Murray, NSW Murray, Lower Darling and Murrumbidgee.
- 3 These figures do not include supplementary water in the Murrumbidgee river which is subject to announcement.
Commonwealth environmental water available in 2012-13
As at 1 August 2012, the Commonwealth Environmental Water Office has 152.1 GL of water available in the Murrumbidgee catchment, including 41.8 GL carried over from 2011-12. The total volume that may be available in 2012-13 is estimated at between 170-194 GL.
In addition to water entitlements held within the Murrumbidgee, the Commonwealth is forecast to have between 810 GL and 836 GL of additional water available from entitlements held elsewhere in the Southern Connected Basin. Subject to trading rules and account limits, this additional water may be available in the Murrumbidgee catchment in 2012-13.
These allocations are significantly higher than the longterm average, which means that the Commonwealth Environmental Water Office has, like all other entitlement holders, substantial volumes of water available. Allocation water can be used, traded or carried over to subsequent years depending on the nature of the source entitlement and the legal framework which applies to the management of Commonwealth environmental water.
Water use options in 2012-13
The Commonwealth Environmental Water Office has developed water use options for all water available to it in the Southern Connected Basin, subject to seasonal and operational considerations. Available water may be transferred between catchments within the Southern Connected Basin to meet environmental watering needs.
Further information on environmental water use options is available at Annual Water Use Options 2012-13: Murrumbidgee Catchment. Information on water use will be updated on the website as decisions are made.
Trade in 2012-13
The Water Act 2007 provides for the trade of Commonwealth environmental water (allocations and entitlements) and specifies the conditions under which sales may occur. The Commonwealth Environmental Water Office has no current plans for allocation sales in 2012-13 as available allocations are expected to be required to meet environmental needs. The Commonwealth Environmental Water Office has no current plans for allocation purchases.
Trading opportunities are assessed on an ongoing basis, and allocation trade may be considered if catchment and market conditions change. The Commonwealth Environmental Water Office will provide further information to the water market prior to undertaking any trading action.
Trade of permanent entitlement is not being considered for 2012-13. Please note that the Commonwealth Environmental Water Office is a separate entity from the Commonwealth Government's Restoring the Balance in the Murray-Darling Basin program and as such the preceding statement does not relate to water entitlement purchasing that may be conducted through that program.
Carryover into 2013-14
As noted above, the volume used for environmental watering in 2012-13 will be subject to seasonal and operational considerations. The Commonwealth Environmental Water Office will monitor water use and will develop a carryover strategy for any allocations that are not likely to be used. Unused allocations will be transferred, subject to trading rules, to accounts that provide the most favourable carryover arrangements. The Commonwealth Environmental Water Office will provide more specific guidance on carryover in subsequent portfolio management statements as the year develops and forecasts can be refined.
Further information about carryover of Commonwealth environmental water in the Murrumbidgee can be found Carryover of Commonwealth Water - NSW Murray and Murrumbidgee - Factsheet
Proportion of Murumbidgee irrigation entitlements held by Commonwealth (by total long-term average annual yield)
Carryover of Commonwealth environmental water in the Murrumbidgee as a proportion of major storage capacity
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