Friday 1 July 2022 marks the beginning of the 2022/2023 water season, and with-it water allocations are reset and revised based upon, storage levels, weather and stream flow outlooks and usage / requirements. Waterfind has analysed and summarised the announcements of the major regions below.
New South Wales
The total volume of water held in major NSW storages has increased from an average of about 62% this time last year, to be now about 97% of full capacity. Good rainfalls resulted in the maximum allocation to many licence types in regulated rivers.
In the NSW Murray High security licence holders have received their full (97%) opening allocation, whilst General Security licence holders are commencing the 2022/23 water year with a 43% allocation. There was also an estimated 838GL of water carried over on Murray GS Licenses. Compared to the previous season opening water allocations in the Murray were 97% and 3% for HS and GS license holders respectively.
In the Murrumbidgee High security licence holders have received 95% opening allocation, whilst General Security licence holders are starting the 2022/23 water year with a 35% allocation. There was also an estimated 680GL of water carried over on Murrumbidgee GS Licenses. In comparison to the 2021/22 season HS entitlement holders received 95%, whilst GS entitlement holders received 30%.
The NSW Barmah-Millewa Allowance will be fully available on 1 July 2022. The current balance is approximately 198 GL. (Note that there is no outstanding borrow, with general security > 30%). The Barmah Choke trade balance will be re-set on 1 July and will reflect the volume of annual Snowy Savings below the choke that will not need to be delivered downstream. The balance of the Barmah Choke was quickly filled and closed early this morning.
Table 1: NSW Opening Allocations of Major Markets
|Region||Opening Allocation (%)|
|General Security Entitlement||43%|
|High Security Entitlement||97%|
|General Security Entitlement||35%|
|High Security Entitlement||95%|
To view the opening allocations for all other regulated rivers in NSW click here.
All groundwater resources in NSW were allocated 100% allocation, besides Namoi Zone 1 Groundwater, which was allocated 270% allocation. To read the full announcement click here.
Victorian Murray Allocations
In the Victorian Murray High Reliability licence holders have received a higher than expected 94% opening seasonal determination, this is the highest opening seasonal determination in 20 years. Low reliability entitlements received 0%, however given the nature of the market it could be expected to rise again at some point during the season. The risk of spill in the Murray is very high and based on last season’s experience some spill should be expected. In comparison to the 2021/22 season HR entitlement holders received only 21% opening allocation.
Goulburn High Reliability licence holders received 66% opening seasonal determination, the highest since the 2017/18 season. Low reliability entitlements once again received 0% determination. The risk of spill in the Goulburn is approximately 80%. At the start of the 2021/22 season Goulburn HR entitlement holders received 33% allocation.
In the Murray there was 389,862 ML carried over and 627,840 ML carried over on Goulburn accounts.
Table 2: Vic Opening Allocations of Major Markets
|Region||Opening Determination (%)|
|Low Reliability Entitlement||0%|
|High Reliability Entitlement||94%|
|Low Reliability Entitlement||0%|
|High Reliability Entitlement||66%|
To view the opening allocations for all other regulated rivers in Victoria click here.
South Australian Murray Allocations
SA Class 3 entitlement holders received their full (100%) allocation to start with, for the 2nd consecutive year.
With the opening 2022/23 allocations being very high due to the wet to very wet weather forecasts and high volumes in storages, now is the right time to start considering how to maximise the potential of your water entitlement, not only for this season.
To discuss this option, or any other option regarding the water market, opening allocations please contact your Local Water Account Manager on 1800 890 285. If you would like to view the Live water market, click here.