Many northern Victorian irrigators are now considering carrying over significant volumes of water, after recent good rains.
Goulburn-Murray Water is encouraging customers to consider their options, as 2022/23 irrigation season draws to a close.
Carryover enables customers to keep some, or all, of their unused water allocation and take it into the next irrigation season.
GMW acting Water Delivery Services general manager Greg Shannon said there had been a drop in the number of water orders for current season, compared with previous years.
"So far GMW has delivered 78,610 orders in the 2022/23 irrigation season," he said.
"At the same time last year, we had delivered 99,940 orders.
"This can be attributed the high rainfall received in October and November 2022."
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GMW Water Delivery Services general manager Warren Blyth said customers considering carrying over unused water entitlements should familiarise themselves with the regulations for their region.
"Carryover is available to water entitlement holders in the Broken, Bullarook, Campaspe, Goulburn, Loddon and Murray systems, however, the rules do vary between systems so please check how they apply to you," Mr Blyth said.
"If customers have unused water they wish to carryover, it's important to link their allocation account to a water share, limited term transfer of a water share, or supply by agreement before June 30, 2023."
Unused allocation will automatically carry over as long as it is held in an allocation bank account (ABA) linked to water shares on June 30, 2023.
H20X Water Markets director Craig Feurherdt said the volume of unused allocation, across the southern Basin, was very high.
"Carryover space is at a premium - $80 plus a megalitre in most systems - and price has been driven by availability," he said.
Entities who had carry space were generally using it for themselves, rather than offerin it to others.
"The dry outlook is on irrigators minds, but the reality is water availability will be excellent next season which will ensure prices remain in an 'affordable' price range," he said.
Waaia dairy farmer Mark Bryant said "when there's plenty of water around, not many people talk about water.
"I would think people are a little bit gunshy, at the moment, because they lost a fair bit last year," he said.
But he said he hadn't started to look at carrying water over.
"You will carry it over, purely because its $10 a megalitre."
Livestock producer Colin Fenton, Boort and Kerang, said so little water had been used, it was unlikely there would be much carryover because dam capacity was limited.
"There was no irrigation in the spring, and very little water used in the autumn, so I don't know where they are going to put it - the storages are full of environmental water," Mr Fenton said.
"The bottom line is nature controls it anyway, last spring got wetter and wetter and the water wasn't used.
"We won't want a wet winter, this year, or we'll flood like you've never seen before."
Skeeter Verhey, Koondrook, milks 380 cows and said he would be carrying over a significant amount of water.
"Due to the price of water, I am carrying over everything - it's cheap water," he said
"It's $7-13/ML in Zone Seven - if it spills, the environment will get it then; it's cheap insurance, there is no other way for it.
'We are an irrigation business and we have just come out of a wet period, so we will take the opportunities while we can get them.
'At $13/ML, its the cheapest water we can ever have."
Steve Snelson runs livestock and crops at Tongala and said while he may lose water, he didn't use anywhere near what he thought he would.
"If the El Nino is right, it would be profitable if you have the opportunity to put it [water] out or sell it," Mr Snelson said.
"It is one of the best autumn starts I've seen - if it's a false promise, and doesn't rain until July, then at least in August you can start watering."
Meanwhile, the Murray-Darling Basin Authority is creating airspace at Hume Dam as irrigation demands decrease and the wetter months approach.
MDBA River Management executive director Andrew Reynolds said water levels in Hume Dam were higher than usual, following widespread flooding last year.
"We have been managing releases at Hume Dam to meet demands downstream, however these demands are reducing as the irrigation season draws to a close and the water level in the dam is beginning to rise."
"This week we will begin generating airspace in the dam ahead of wetter months with initial releases at relatively low rates and well within the channel capacity downstream of the dam.
"Hume Dam is currently at 91per cent capacity and Dartmouth is at 96pc."
Given the relatively high storages at both Hume and Dartmouth dams heading into winter, airspace releases were important to help mitigate the risk of flooding in the weeks and months ahead.