Portfolio Management Statement for the Northern Victorian Rivers 2012-13

Commonwealth Environmental Water Office
Update prepared: 14 March 2013

Download

Photo of Murrumbidgee River catchment

Goulburn-Broken catchment

Photo by Simon Banks © CEWO

This portfolio management statement outlines the Commonwealth Environmental Water Office's (CEWO) current approach to the use, carryover and trade of Commonwealth environmental water in the Northern Victorian Rivers for the remainder of the 2012-13 water year. The Northern Victorian Rivers are defined in this statement as the Goulburn, Campaspe, Loddon, Broken, Ovens and Wimmera-Mallee catchments.

This statement will continue to be updated as the approach to portfolio management is adjusted in response to actual seasonal conditions. The next routine update is anticipated around June/July 2013, however further updates may be released in response to a significant change in circumstances.

Recent Water Availability

Water availability in the Northern Victorian Rivers has been high. Allocations to High Reliability Water Shares are at 100%. No allocations have been made to Low Reliability Water Shares, except for those in the Campaspe and Broken, which are at 100%. Current capacity in key storages is approximately: Lake Eildon 77%, Waranga Basin 41%, Lake Eppalock 82% and Cairn Curran Reservoir 75%.

Commonwealth environmental water at 28 February 20131
Entitlement type Entitlement Held (GL) Carryover from 2011-12 (GL) New allocations in 2012-13 (GL) Allocation transferred for delivery in 2012-13 (GL) Current Commonwealth allocations (GL) Anticipated carryover to 2013-14 (GL)
Loddon (High Reliability) 2.8 0.0 2.7 2.7 0.0 0.0
Loddon (Low Reliability) 0.5 0.0 0.0 0.0 0.0 0.0
Campaspe
(High Reliability)		 6.5 0.0 6.4 6.4 0.0 0.0
Campaspe
(Low Reliability)		 0.4 0.0 0.4 0.4 0.0 0.0
Goulburn-Broken
(High Reliability)		 203.7 0.1 191.4 84.7 106.7 0.0 - 20.0
Goulburn-Broken
(Low Reliability)		 11.4 10.1 0.0 0.2 10.0
Ovens (High Reliability) 0.1 0.0 0.1 0.0 0.1 0.0
Wimmera-Mallee (Headworks Water Allowance) 28.0 0.0 0.0 0.0 0.0 0.0
Total – Northern Victorian Rivers 253.4 10.2 200.6 94.4 116.8 0.0 - 20.0
Total – Southern Connected Basin2 1077.5 232.1 917.4 - 937.7 721.6 445.7 - 465.9 0.0 - 250.0

Note:

  1. Slight discrepancies may exist due to rounding.
  2. Southern Connected Basin includes the following hydrologically connected catchments: Goulburn, Campaspe, Loddon, Murray (Vic, SA and NSW), Lower Darling and Murrumbidgee.

Commonwealth environmental water availablity and use in 2012-13 (up to 28 February 2013)

211 GL of carryover and new allocations have been credited to CEWO accounts in the Northern Victorian Rivers in 2012-13.

Approximately 94 GL of allocation from Northern Victorian Rivers entitlements was used for environmental watering within the Northern Victorian Rivers to support the protection and restoration of water dependant ecosystems; breeding and recruitment of native fish; the maintenance of riparian vegetation communities; and to support connectivity between the Northern Victorian tributaries and the Murray River.

On 7 December 2012, the Commonwealth secured the purchase of 28 GL of Headworks Water Allowance by entering into a deed of supply by agreement with Grampians Wimmera Mallee Water Corporation. No allocations are currently available against this entitlement. CEWO is in discussions with stakeholders on the most effective use of these holdings to deliver environmental outcomes within the Wimmera catchment.

Anticipated future water availability and use in remainder of 2012-13 (post 28 February 2013)

117 GL of Commonwealth environmental water is currently held in the Northern Victorian Rivers.

The Commonwealth environmental water holdings are managed on a system-wide basis and available water may be transferred between catchments in the Southern Connected Basin to meet environmental needs. Currently the CEWO has at least 329 GL of water available in 2012-13 from entitlements held elsewhere in the Southern Connected Basin. If required, a percentage of this water may be utilised in the Northern Victorian Rivers in 2012-13 (subject to trading rules and account limits).

CEWO expects to use the majority of allocations held within the Northern Victorian Rivers, and some allocations from the Mid-Murray, to undertake environmental watering within the region over the next three months, subject to seasonal and operational considerations. This water will be used to continue to support the protection and restoration of water dependant ecosystems, breeding and recruitment of native fish; the maintenance of riparian vegetation communities; and to support connectivity between the Northern Victorian tributaries and the Murray River.

Additional information on environmental water use in the Southern Connected Basin is available at Southern catchments.

Trade in 2012-13

The Commonwealth Water Act 2007 provides for the trade of Commonwealth environmental water (allocations and entitlements) and specifies the conditions under which trade may occur. No Commonwealth environmental water has been traded this year in the Northern Victorian Rivers. Trade of allocations by other water users has been most active in the Goulburn region, with no trading activity in the Broken region. The volume and price of allocation traded by other water users throughout the Southern Connected Basin has trended up across the water year, with the total value of trade reaching a peak in January.

CEWO is not intending to trade allocations or permanent entitlement in the Northern Victorian Rivers over the remainder of 2012-13. Further, CEWO does not intend to trade anywhere until it has addressed matters arising from the making of the Basin Plan and issues that were raised in recent consultation with industry groups. These include implementing protocols to address concerns about the potential for insider trading.

All intentions are largely unchanged from those expressed in the Statement released in December 2012 and further information would be made widely available should they change.

Carryover of Commonwealth environmental water into 2013-14

Based on currently available water and anticipated use, and taking into account State rules on transferring water, CEWO estimates that it will carryover up to 250 GL in the Southern Connected Basin, of which up to 20 GL might be in Northern Victorian Rivers accounts. The quantity actually carried over will largely depend on the volume of environmental watering that occurs in the remainder of 2012-13, which is subject to seasonal and operational considerations.

Carryover can be used to implement environmental water options from early 2013-14. Further information about carryover of Commonwealth environmental water can be found here: Information on carryover.

Pie chart shows as at 28 February 2013, the Commonwealth held 13% of the Northern Victorian Rivers irrigation entitlements, measured in terms of long-term average annual yield. The remaining 87% were held by other entities.

Proportion of Northern Victorian Rivers irrigation entitlements held by Commonwealth (by total long-term average annual yield)

Pie chart shows that as at 28 February 2013, Commonwealth regulated allocations were approximately 3% of the Northern Victorian Rivers's total storage volume.

Regulated Commonwealth allocations in the Northern Victorian Rivers as a proportion of major storage capacity

Cover of Portfolio Management Statement for the Northern Victorian Rivers 2012-13

Before you download

Some documents are available as PDF files. You will need a PDF reader to view PDF files.
List of PDF readers 

If you are unable to access a publication, please contact us to organise a suitable alternative format.