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