The Connections project created 433 gigalitres in annual water savings.
In 2022, these savings were passed on to irrigators in the Goulburn Murray Irrigation District in the form of either water shares or a credit on their fixed charge accounts.
In February 2022, the water minister announced an additional 2 Gl of water had been recovered through the Connections project.
A third of the additional 2 Gl 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.
G-MW 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,” Ms Quick 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 1.4 Ml to 190.8 Ml and are available across Goulburn, Murray, Campaspe and Loddon trading zones. Each auction will be open until February 1.
Financial benefits arising from the water share sale will be distributed as a G-MW 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, visit: https://www.g-mwater.com.au/policy-and-projects/irrigators-share-distribution-project
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