On the back of recent rainfall (providing some much-needed inflows into storages) Southern basin storages observed an uptick of 2% (337 GL) now 62%, again below last year’s 83%, but good to see some improvements.
Allocations
Last Friday, the Bidgee GS received a 6% increase to allocations, bringing the cumulative total to 15%. With carryover included, the average account balance across the system is sitting at around 31%. Also to note; Coly Members (that have taken up the 10% enhancement, should be receiving this now).
Meanwhile, in NSW Murray, General Security accounts received a 1% allocation, moving totals to 2%. With carryover, average account balances here are slightly higher, approximately 33%.
It’s important to note that the latest allocation announcements have been made based on volumes and inflows up to the announcement date.
So, keep an eye on August 15th, which may give a better picture of recent wet conditions, as tributaries continue responding to rainfall.
In Victoria, High Reliability Water Shares saw some improvement:
• Murray HR moved from 40% to 49%,
• Goulburn HR rose from 33% to 38%.
IVT
• The Barmah Choke remains closed.
• In the Murrumbidgee, IVT remains closed for trade from the Murray into the Bidgee. The current balance is 9.9GL.
The trade would only re-open once this rises to 15GL.
On the flip side, there's about 90GL available for trade-out of the Bidgee.
• The Goulburn IVT is also closed, with the next opening scheduled for mid-October,
Temp Prices
Below choke (SA and VIC) we are observing notable demand particularly from table grapes and water users without entitlements, which is keeping the prices firm and a small uptick from last week. Prices are around $265 - $275/ML.
Likewise, Murrumbidgee and NSW Murray are at parity, the opportunity for Murrumbidgee entitlement holders to move water to the Murray is increasing, prices are around $265 - $275/ML.
Above Choke, again we are seeing prices hold firm in VIC and NSW, we suspect the price of fodder and stock (Lamb and Cattle) is keeping the prices here. Currently around $235 - $240/ML.
Finally, in the Goulburn, prices are somewhere between $206 - $215/ML.
Perm Prices
A notable increase in demand and prices has been observed. Particularly for SA Class 3, recent trade occurred at $7,935/ML.
Recent trades for Vic Murray have been from $7,375 - $7,600/ML.
All other entitlements are broadly stable.
Finally, we are still seeing trickle fed agreements and negotiations from the Commonwealth for the Restoring our Rivers Open Tender. Due to the enormity of submissions, this process is taking a lot longer than anticipated and the department are not finished responding to submissions.
As always, if you need advice, we are here to help.
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