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30/07/2009

SA Government increases water trading efficiencies

The Department of Water, Land and Biodiversity Conservation has implemented new water licensing legislation with the aim of making water trading faster, cheaper and more straightforward.

The unbundling of South Australian water licences, which came into effect on 1 July 2009, separates the rights and responsibilities of a single water licence into individual components.

National water broker Waterfind has welcomed this new legislation as a practical and positive step towards achieving market and trading efficiencies in South Australia.

Waterfind CEO Tom Rooney said “with the unbundling system in place, trades will now deal with individual elements of water rights, which is more consistent with Victorian and New South Wales systems and will save growers time and money.”

“South Australian transfers of water allocations or licences have previously required additional processes and assessments, which meant that trades generally took longer to compete than trades between New South Wales and Victorian licences,” he said.

Waterfind is assisting growers to understand the new licensing changes through a free information seminar on the Australian water market and water trading in Berri on 19 August.

Waterfind’s water trading market is now open for the 2009–10 season.

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