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.

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

Up to 8,000 ML of water will be made available in northern Victoria via selected brokers over the next few months. 

Denis Flett, VEWH Chairman said the decision to sell was made to manage the VEWH's Water Holdings for maximum environmental benefit across the State.

"Carryover and trade decisions help the VEWH to manage water availability over multiple years to meet environmental needs," Mr Flett said.

"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.

"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 monitoring or technical work to improve the management of the Water Holdings.

A proportion of the VEWH's northern Victorian allocation will also be carried over to support critical and early season watering actions. VEWH carryover and trading activity during 2014-15 will be reported in the VEWH Annual Report 2014-15.