Irrigators in the north get another round of water savings

The Connections Project was Australia's largest water savings project, creating 433GL in annual water savings.

Last year the savings were passed on to GMID irrigators in the form of either water shares or a credit on their fixed charge accounts.

Read more:

In February 2022, the Water Minister announced an additional 2GL of water had been recovered through the Connections Project.

A third of the additional 2GL savings will now be passed on to irrigators in the GMID through credits on their accounts following the sale of water shares.

The remaining two-thirds, nominally shared between the other original partners in the project - the environment (represented by the Victorian Environmental Water Holder) and Melbourne retail water corporations - has been set aside for Traditional Owners in northern Victoria.

The water shares will be listed for sale this month, via a public online auction through RuralCo Water.

GMW managing director Charmaine Quick said the sales had been timed to provide a positive outcome for all.

"The sale of the shares will be conducted in line with an independently developed trading strategy," she said.

"The strategy has been designed to maximise returns for beneficiaries while minimising market disruption and ensuring open accessibility to the trade opportunity for all interested parties."

The water share parcels range in size from 1.4ML to 190.8ML and are available across Goulburn, Murray, Campaspe and Loddon trading zones.

Each auction will be open until February 1, 2023.

Financial benefits arising from the water share sale will be distributed as a GMW account credit for all eligible recipients of the irrigators' share, proportionate to holdings of delivery share on census date ( October 1, 2021).

For more information head to https://www.g-mwater.com.au/policy-and-projects/irrigators-share-distribution-project