The Australian Competition and Consumer Commission today issued its draft water market rules and draft advice to the Minister for Climate Change and Water on the water market rules for public consultation. The Minister has requested final advice from the ACCC by December 2008.
In developing the draft rules, the ACCC has considered:
- stakeholder submissions in response to the water market rules issues paper (April 2008) and water market rules position paper (July 2008), and
- the Murray-Darling Basin water market and trading objectives and principles contained in Schedule 3 of the Water Act 2007.
The water market rules form a key component of the Act, which creates new institutional and governance arrangements to address the sustainability and management of water resources in the Basin. The draft water market rules 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 transformation arrangements including trade.
The ACCC now seeks submissions on the draft water market rules. As part of the consultation process, the ACCC will also hold public forums throughout the Basin.
"Consultation on the draft water market rules, prepared by the ACCC, is a final opportunity for irrigation infrastructure operators and irrigators to contribute to the development of the ACCC's advice to the Minister," ACCC Chairman, Mr Graeme Samuel, said today. "Stakeholders are strongly encouraged to participate in this consultation process.
"The draft water market rules seek to provide irrigators with greater flexibility in managing their water rights while balancing the legitimate restrictions of irrigation infrastructure operators.
"A well functioning water market will contribute to improved water use efficiency and inform efficient investment decisions in water infrastructure assets."
Submissions are to be provided to the ACCC by Monday, 10 November 2008. Details on how to make a submission can be found in the draft rules, which are available from the ACCC website: www.accc.gov.au.