Development of advice on Water Market Rules
On 23 December 2008, the ACCC provided its final advice on the water market rules to the Minister for Climate Change and Water.
The purpose of the water market rules is to free up the trade of water access rights within the Murray-Darling Basin. The rules allow this by enabling irrigators to 'transform' their share of the water entitlements held on their behalf by operators into separately held entitlements.
Development of advice
The Water Act 2007 provides that the minister may make water market rules.
In December 2007, the minister wrote to the ACCC requesting advice on the water market rules as required under ss.98(1) of the Water Act 2007 by December 2008.
The ACCC provided its advice and recommended water market rules in December 2008.
On 11 February 2009, the minister issued a public notice proposing to make water market rules. The rules were registered by the Minister for Climate Change and Water (the minister) on 22 June 2009 and came into effect on 23 June 2009.
This advice has considered, through the ACCC's extensive consultation, stakeholder submissions responding to an issues paper, a position paper, and draft advice. The ACCC also conducted public forums in regional centres on the draft advice for water market rules and water charge (termination fees) rules. In total the ACCC received 130 submissions.
This advice also took into account the Basin water charging objectives and principles contained in schedule 2 of the Act and water market and trading objectives and principles contained in schedule 3 of the Act.
Copies of the issues paper, the position paper, draft advice and final advice are available below.
For more information
Public Submissions
In total the ACCC received 130 submissions during the development of its advice on the water market rules:
Submissions to issues paper
Submissions to water market rules draft report
Public forums
The ACCC conducted six public forums in regional centres on the draft advice for water market rules. Copies of the ACCC public forum presentation and a summary from each forum are available below.
Public forum summaries
Public forum presentation.pdf (263.8 KB)