The Australian Competition and Consumer Commission today released an issues paper seeking submissions on water trading issues.
The Water Act 2007 requires the Murray-Darling Basin Authority (MDBA) to develop a Basin Plan for the integrated and sustainable management of water resources in the Murray–Darling Basin, including water trading rules, and the MDBA has requested the ACCC's advice.
"Water trading is a crucial tool to enable farmers, who are struggling with the current drought, to manage their water needs," ACCC Chairman, Mr Graeme Samuel said today.
The ACCC will examine how water trading rules in the Basin Plan can contribute towards more efficient water markets throughout the Murray-Darling Basin.
"A well functioning market allows scarce water resources to be transferred to where they have the highest value. As with previous rounds of consultation on water rules, the ACCC is keen to hear all stakeholder views about the issues identified in the paper. These views will help inform the ACCC's advice to the MDBA," Mr Samuel said.
The ACCC is seeking submissions by Friday 1 May 2009. Following this, the ACCC will release a Position Paper for further consultation.
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