Allocation accounts of Goulburn and Campaspe irrigators will be bolstered by a decision by the northern Victorian resource manager this week.
Allocations held in the two catchments’ spillable water accounts will return to the allocation accounts due to a risk of spill determination.
Resource manager Mark Bailey said the risk of spill in the Goulburn system is about 15 per cent and for Lake Eppalock, below 10 per cent.
“Despite the risk remaining above the 10 per cent threshold needed for a declaration, entitlement holders need the opportunity to finalise their carryover planning for 2024-25,” Dr Bailey said.
“All of the allocation held in spillable water account will return to entitlement holders as no deductions from spillable water accounts are required.”
The resource manager conducts an assessment about the chances of the storages spilling in these systems on the 10th of each month.
If the chance is less than 10 per cent, a low risk of spill will be declared and the water in the spillable accounts is returned to the allocation accounts.
The spill risk for the two reservoirs has been declining over the last few months, as storage levels have reduced.
Eildon was holding 90 per cent on Tuesday, June 11, and Eppalock 91 per cent.
The risk of spill assessment refers to water accounting only and does not describe the chances of flooding.
The risk of spill in the Murray, Goulburn and Campaspe systems in 2024-25 will be included in the seasonal determination announcement on Monday, July 1.
Trading opportunities
Allocation trade from NSW to Victoria is limited to the lesser of a net annual volume of 200 Gl or a volume that keeps the risk of spill in Victoria’s share of both Hume and Dartmouth reservoirs below 50 per cent.
The 200 Gl of net trade from NSW to Victoria remains available.
The volume available for trade is updated with each risk of spill announcement.