Victorian Water Trading 2012-13 Annual Report Authorised and published by the Victorian Government, Department of Environment and Primary Industries, 8 Nicholson Street, East Melbourne, November 2013 © The State of Victoria Department of Environment and Primary Industries 2013 This publication is copyright. No part may be reproduced by any process except in accordance with the provisions of the Copyright Act 1968. 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Victorian Water Trading 2012-13 Annual Report iii > Contents Summary ................................................................................................................................................................. 6 Introduction to Victoria’s Water Trade Framework ..........................................................................................7 Classification of trade regions in Victoria .....................................................................................................7 Declared systems ...............................................................................................................................................7 Trading zones ......................................................................................................................................................7 Water trade types ..............................................................................................................................................7 Water share transfers ..........................................................................................................................................................8 Allocation trade ......................................................................................................................................................................8 Take and use licence transfers .........................................................................................................................................8 Water Trade in Northern Victoria........................................................................................................................ 8 Allocation trade in Northern Victoria ............................................................................................................ 9 Environmental and non-environmental allocation trade ....................................................................................9 Allocation trades in Northern Victoria ..........................................................................................................................9 Allocation trade by trading zone ...................................................................................................................................10 Price of allocation trades .................................................................................................................................................. 14 Result of allocation trade applications ....................................................................................................................... 14 Trade of water shares in Northern Victoria .................................................................................................15 Transfer of ownership of water shares .......................................................................................................................15 Movement of water shares (transfer and variations) ............................................................................................ 18 Limited term transfers of water shares ......................................................................................................................22 Price of water share transfers ........................................................................................................................................22 Result of water share transfer applications .............................................................................................................24 Trade of take and use licences in Northern Victoria ...............................................................................24 Water Trade in Southern Victoria ..................................................................................................................... 25 Allocation trade in Southern Victoria ......................................................................................................... 25 Transfer of allocation by trading zone ........................................................................................................................25 Price of allocation trades ..................................................................................................................................................26 Result of allocation trade applications .......................................................................................................................26 Trade of water shares in Southern Victoria ............................................................................................... 26 Transfer of ownership of water shares ......................................................................................................................26 Movement of water shares (transfer and variations) ............................................................................................27 Limited term transfers of water shares ..................................................................................................................... 28 Price of water share transfers ........................................................................................................................................29 Result of water share transfer applications ............................................................................................................29 Trade of take and use licences in Southern Victoria ............................................................................... 30 Victorian Water Trading 2012-13 Annual Report iv > Contents Water Trade in Western Victoria ........................................................................................................................31 Trade of take and use licences in Western Victoria ..................................................................................31 Processing Applications ..................................................................................................................................... 32 Processing time for allocation trade applications .................................................................................... 32 Processing time for applications to transfer water shares ..................................................................... 32 APPENDICES ....................................................................................................................................................... 33 Appendix 1: Water trading zones for Victorian regulated water systems as at March 2012 ................................. 33 Appendix 2: Comparison of the allocations for high reliability water shares in the Murray system during the 2012/13 and 2011/12 seasons .....................................................................34 Appendix 3: Comparison of the allocations for high reliability water shares in the Goulburn system during the 2012/13 and 2011/12 seasons .................................................................34 Victorian Water Trading 2012-13 Annual Report v List of Tables Table 1: Declared water systems in Northern Victoria .........................................................................................................................................................................7 Table 2: Declared water systems in Southern Victoria .........................................................................................................................................................................7 Table 3: Summary of allocation trades in Northern Victoria for 2012/13 ..................................................................................................................................... 9 Table 4: Summary of allocation trades in Northern Victoria for 2012/13 by environmental trade type .......................................................................... 10 Table 5: Total trade of allocation in Northern Victoria (volume – ML) ..........................................................................................................................................11 Table 6: Non-environmental allocation trades in Northern Victoria (volume – ML) .................................................................................................................12 Table 7: Environmental allocation trades in Northern Victoria (volume –