Commonwealth Environmental Water Holder to sell water allocations in the Peel Valley

Media release

Tuesday 11 March 2014


The Commonwealth Environmental Water Holder David Papps today announced that up to 400 megalitres of water allocations will be available for sale in the Peel Valley.

The Commonwealth Environmental Water Holder is selling annual allocations; it is not selling permanent entitlements.

Potential buyers are invited to submit an Expression of Interest between 10.00 am Thursday 13 March 2014 and 3.00 pm Friday 14 March 2014 (AEDT). Mr Papps said the Expression of Interest is intended to be a simple process.

“Potential buyers will nominate the volume of water they would be interested in buying and the price per megalitre they would be willing to pay. If there are suitable offers, we will work with the buyers offering the best prices to complete trades.”

Mr Papps said that decisions to sell water are based on environmental needs.

“There is no carryover available with these entitlements. The water is not required to meet environmental needs. The environmental benefit in using the 400 megalitres at this time of year under current conditions is relatively low”.

The Commonwealth Environmental Water Holder will use the proceeds of sale in the interests of maximising the environmental outcomes in the Murray Darling Basin.

Background

The Commonwealth Environmental Water Holder (CEWH) has legislated responsibility under the Water Act 2007 (Water Act) for decisions relating to Commonwealth environmental water, including the management of the portfolio so that it maximises environmental outcomes across the Murray-Darling Basin over time. Information about how the water portfolio is managed is available at www.environment.gov.au/topics/water/commonwealth-environmental-water-office/about-office. For information on trade please refer to www.environment.gov.au/topics/water/commonwealth-environmental-water-office/trade