On 7 August 2019 the Government announced that it would direct the ACCC to conduct an inquiry into markets for tradeable water rights in the Murray-Darling Basin. The ACCC will be asked to recommend options to enhance markets for tradeable water rights, including options to enhance their operations, transparency, regulation, competitiveness and efficiency.
The ACCC’s inquiry will consult with a wide range of water market participants and other persons involved in water markets in the Murray-Darling Basin.
The date for the ACCC to provide an interim report on the inquiry has been extended from 31 May 2020 to 30 June 2020. The ACCC must complete the inquiry and provide a report to the Treasurer by 30 November 2020.