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Southern Rural Water sold all available water shares at its auction today.

Manager Water Supply East, Terry Clapham, said this year’s auction had a different format.

“Instead of selling high reliability water share and low reliability water shares separately, this year we offered high and low together,” he said.

“Whatever customers purchased in high, they also received in low.”

Terry said 559.9 megalitres (ML) of paired high reliability water shares and low reliability water shares were sold for an average of $1808.51 per ML. The highest price paid per ML was $1900.

This compares to past figures of:
• 2013 – $1582 average price, 592 ML high reliability water shares sold
• 2012 – $1850 average price, 35 ML high reliability water shares sold
• 2011 – $1856 average price, 448 ML high reliability water shares sold
• 2010 – $2286 average price, 750 ML high reliability water shares sold

Another 160.6ML of low reliability water shares only were sold for an average of $80.66 per ML.

“We are extremely pleased that allocation against the high reliability shares (currently 90%) will go into production this season, considering the very dry conditions that the district and our customers are currently facing,” said Terry.

“Importantly, the water will be available immediately after we have received full payment. This will allow those who purchased the high reliability shares to plan for extra irrigations this season.”

The auctioned water shares have come from savings made through automation works in the Macalister Irrigation District funded by Southern Rural Water. The revenue from the auction goes into paying for those works, and for new projects in the MID. This was the last auction of water shares from these works.

The purchasers included existing and new customers, with demand coming from the dairy industry, horticulturalists and domestic and stock users.

For more information visit www.srw.com.au or call Southern Rural Water on 1300 139 510.

ENDS.

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