ACCC releases position paper for water market rules
The Australian Competition and Consumer Commission today released its position paper seeking submissions on the development of water market rules.
The water market rules form a key component of the Water Act 2007, which creates new institutional and governance arrangements to address the sustainability and management of water resources in the Murray-Darling Basin.
The rules will ensure that policies or administrative requirements of operators of irrigation infrastructure who hold a group water access entitlement on behalf of their member irrigators do not unreasonably prevent or delay trade.
"The purpose of the water market rules is to free up the trade of water within the Murray-Darling Basin," ACCC Chairman, Mr Graeme Samuel, said today. "A well functioning water market will contribute to improved water use efficiency as well as send clearer signals about efficient investment in water infrastructure assets. Reducing restrictions on the trade of water provides irrigators with greater flexibility in managing their water rights."
Submissions are to be provided to the ACCC by 5 p.m. on Friday 15 August 2008. Details on how to make a submission can be found in the position paper, which is available from the ACCC website: www.accc.gov.au
Media inquiries
Ms Lin Enright, Director, Media Unit, (02) 6243 1108or 0414 613 520
Mr Graeme Samuel, Chairman, 0408 335 555
General inquiries
Infocentre 1300 302 502
Release # NR 193/08
Issued: 7th July 2008
The Water Act 2007, which came into effect on 3 March 2008, creates new functions for the Australian Competition and Consumer Commission. These include the development of water charge rules and water market rules for consideration by the Minister; and for the ACCC to monitor compliance with and to enforce these rules. While not yet asked to provide advice, the Act also allows for the ACCC to advise the new Murray Darling Basin Authority on water trading rules. The ACCC will release in due course position papers in respect of: bulk water charges; charges of irrigation infrastructure operators and charges levied to recover the costs of water planning and management.
