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VEWH to sell water allocation in northern Victoria

The Victorian Environmental Water Holder (VEWH) intends to sell some environmental water allocation in the northern Victorian water market.

Up to 20 GL of water will be made available in northern Victoria via selected brokers over the six month period from December 2016 to May 2017.
 
VEWH Chairman Denis Flett said the decision to sell was made to manage the VEWH's Water Holdings for maximum environmental benefit across the State.
 
"We've considered current and forecast seasonal conditions, and our ability to meet foreseeable priority watering actions not only in this year, but also beyond," Mr Flett said.
 
"We are confident that we can meet all of our planned environmental targets this year and be well prepared for the next.
 
"In deciding to sell water, we have assessed current market conditions and consider that we will not have any significant adverse impacts on the market. We will continue to assess this risk throughout implementation of any trades."
 
Proceeds from the sale will be used for future environmental watering priorities. This may include water purchase to meet shortfalls in any Victorian systems, or investment in structural or technical works to improve the management of the Water Holdings.
 
Mr Flett said a proportion of the VEWH's northern Victorian allocation will also be carried over to support critical and early season watering actions in 2016-17.
 
"The climate is proving to be extremely variable in Victoria. We have moved from one of the driest years on record in 2015-16 to one of the wettest in 2016-17. As water managers, we need to be prepared for all extremes."
 
The VEWH's annual trading strategy provides an overview of potential allocation trading activities that may be undertaken by the VEWH in the southern Murray-Darling Basin throughout 2016-17. It aims to provide the public with a broad understanding of how the VEWH plans to conduct trades throughout the year. 
 
VEWH carryover and trading activity during 2016-17 will be reported in the VEWH annual report. For further information on this and previous VEWH carryover and trade activity call the VEWH on 9637 8951. Environmental watering is carried out in line with the Seasonal Watering Plan 2016-17.

Further Information

For further information please call
03 9637 8951 or email
general.enquiries@vewh.vic.gov.au.

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