Irrigation customers paid an average of $282.29 per megalitre for water in Southern Rural Water’s online auction on 20 December.
Acting Manager Water Supply East, Gavin Prior, said the unreserved auction was for a total 134 ML of 2018-19 season water. The water has been saved through modernisation projects.
Ten lots of water, ranging from 5ML to 20ML, were offered via SRW’s WaterBid auction program.
“All lots offered for sale sold, with prices ranging from $251 to $310 per ML, providing guidance to the market for those considering trading in the current weather conditions and allocations,” said Mr Prior.
“A total of $38,050 was raised, which will be used on modernisation projects to save further water and improve service throughout the district.
“Getting water into production is our key objective. Releasing it to the market without reserve is the fairest way to achieve this goal.”
A further online auction is planned for January and there will be a permanent water share auction in February.
For more information, contact Southern Rural Water on 1300 139 510