VEWH entering the northern Victorian water market

The Victorian Environmental Water Holder (VEWH) has announced it intends to sell a small amount of water allocation in the northern Victorian water market over the coming months.

The Victorian Environmental Water Holder (VEWH) has announced it intends to sell a small amount of water allocation in the northern Victorian water market over the coming months.

Denis Flett, VEWH Chairman said trading gives the VEWH the opportunity to manage its Water Holdings to maximise environmental benefits, in line with its Seasonal Watering Plan 2011-12.

"We are intending to progressively sell a small amount of water from our Holdings in the coming months.  This decision has been made in light of seasonal conditions and our ability to meet foreseeable priority watering actions," Mr Flett said.

"When undertaking the trades, we will assess the market conditions and plan our trades to avoid any significant adverse impacts on the market."

"Proceeds from the trade will be used for future environmental watering priorities.  This may include funding the delivery of environmental watering actions, purchasing allocation at a different time, or funding works and measures to improve water use efficiency," he said

The VEWH operates under the same water market rules as any other private entitlement holder.

All trading activity conducted by the VEWH will be recorded on the Victorian Water Register (www.waterregister.vic.gov.au) and reported in the VEWH annual report.