TAG
water buybacks
Local faces at water resource conference
Hugh Schuitemaker. Local mayors and a senior irrigation industry figure participated in discussions of how to approach South Australia’s future water use at a major conference ... "A key announcement was that SA Water has committed to cap its reliance on the River Murray at the current level": Riverland Irrigation Trust CEO Rosalie Auricht.
Southern Murray-Darling Basin water entitlement markets lost nearly $2 billion in value over 2023-24, despite Commonwealth buybacks
Today Aither, a Ricardo company, released their eleventh annual Aither Water Markets Report. It summarises water trading activity and trends in the 2023-24 water year and provides insights into the outlook for 2024-25 ... Following a decade of 21 per cent compound annual growth, the Aither Entitlement Index (AEI) has fallen 12 per cent since reaching an all-time high in February 2023 ...
The Menindee compromise released
As the Murray-Darling Basin Authority (MDBA) and the Commonwealth Environmental Water Holder (CEWH) continue to change the rules in their favour, irrigation communities are proposing a dramatic change that aims to benefit food producers and Australia’s largest irrigator, the Commonwealth Environmental Water Holder.
Huge, costly flaw revealed in Labor’s buybacks system leaving local growers hamstrung: Centofanti
Struggling South Australian growers could be forced to wait almost a year for compensation after selling water to the Albanese Labor Government to meet its target of 450GL for the Murray-Darling Basin. Labor has released its Restoring Our Rivers - Trading Strategy which outlines its approach to the destructive water buybacks model over the next year, claiming: “The intent of these rules is to ensure that persons or organisations with prior knowledge of market sensitive information that will be publicly announced, do not have an unfair market advantage over other water market participants”.
Enough is enough says Murrumbidgee Council Mayor
Councillor Ruth McRae OAM, Murrumbidgee Council Mayor. Enough is enough...things you all should know. Crippling water buybacks will see many communities, currently with their back to the wall, disappear, and the shiny trinkets offered by the Federal Government as compensation are $300 million. The Federal Government plans to buy back up to 450GL of water which, at our estimates, will cost them $8 billion. No surprises, there is an undisclosed amount in the Federal Budget to buy water ...
Buybacks begin for political plan
Buybacks have begun as the Federal Government seeks to add to the huge volumes of held environmental water ... The plan appears to have moved past the noble intention of a balanced plan with a triple bottom line. Now fuelled by political motives, the political plan risks the viability of irrigation companies, food-producing industries, and locks many young Australians out of the chance to be an irrigation farmer.
Constraints strategy not feasible but will proceed to business case
Jan Beer. The Feasibility of Relaxing Constraints in Northern Victoria Final Report has been released by Victorian Water Minister Shing. The report recommends proceeding to the next phase of the Constraints Measures Project, which will involve the development of a detailed business case. This will be the third attempt by the Victorian Government to provide a workable business case.
Buybacks to ‘damage’ local communities
Hugh Schuitemaker. Federal Government water buybacks will increase the price of temporary water for Riverland irrigators and the cost of food production, according to senior local politicians ... Chaffey MP Tim Whetstone said Riverland communities and councils were “extremely concerned about what these open slather buybacks will do to their towns, businesses, and local environment.”
Devastating water buybacks on the way for Northern Victoria: Lovell
The Commonwealth government has betrayed Northern Victoria by announcing further water buybacks from irrigation districts that will drive up costs for irrigators and devastate farming communities. Federal Water Minister Tanya Plibersek announced on 4 July that as part of the plan to recover 450GL of water in the Murray-Darling Basin, the Government will put out an open tender to purchase 70GL of water from the southern Basin ... latest plan does not apportion additional recovery fairly between states, but merely seeks to buy the cheapest water wherever it is, which could hurt Victoria further.
Labor’s unfair water buybacks system means South Australia will do the heavy lifting: Centofanti
South Australia is at risk of being taken advantage of as Labor prepares to open tenders for water buybacks to meet the recovery target of 450GL for the Murray-Darling Basin. The Albanese Labor Government has mounted its recovery goal on the destructive model of water buybacks, but there is no fixed volume to be recovered from each state, or each catchment or each water right type, which puts South Australia in the firing line.
