assessments can improve our understanding of the potential impact of climate change on water resources in these systems. Action 9.7 – Develop trading rules in other water systems The Department of Environment, Land, Water and Planning will: continue to refine trading rules and explore opportunities to further develop markets in western Victoria review state-wide unregulated surface water trading rules to improve trading opportunities develop policy to facilitate trade in groundwater systems and investigate the potential for trade where groundwater and surface water is connected. Specific actions will be guided by the relevant recommendations from the review completed as part of Action 9.3. Figure 9.5 – Level of current market development against the elements of effective water markets Caps Entitlements Participants Compliance Information Understand Clearly define Define Ensure Publicly share water entitlements market effective reliable and resources and operation compliance timely and systems associated and trading including information to establish reliability rules to apply monitoring, caps to all metering and participants accounting Northern regulated High High High High Medium surface water Southern regulated surface water High High High High Medium excluding new south central market Western regulated Medium Medium Medium Medium Low surface water Unregulated surface Medium Medium Medium Medium Low water Groundwater Low Medium Medium Low Low
assessments can improve our understanding of the potential impact of climate change on water resources in these systems. Action 9.7 – Develop trading rules in other water systems The Department of Environment, Land, Water and Planning will: continue to refine trading rules and explore opportunities to further develop markets in western Victoria review state-wide unregulated surface water trading rules to improve trading opportunities develop policy to facilitate trade in groundwater systems and investigate the potential for trade where groundwater and surface water is connected. Specific actions will be guided by the relevant recommendations from the review completed as part of Action 9.3. Figure 9.5 – Level of current market development against the elements of effective water markets Caps Entitlements Participants Compliance Information Understand water resources and systems to establish caps Clearly define entitlements and associated reliability Define market operation and trading rules to apply to all participants Ensure effective compliance including monitoring, metering and accounting Publicly share reliable and timely information Northern regulated surface water High High High High Medium Southern regulated surface water excluding new south central market High High High High Medium Western regulated surface water Medium Medium Medium Medium Low Unregulated surface water Medium Medium Medium Medium Low Groundwater Low Medium Medium Low Low
Water-Plan-strategy-accessible.docx