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Buying and selling water in regional Queensland is now easier and more transparent thanks to a new online portal.
Sunwater’s Water Trading Board allows water users and seekers to connect with others looking to trade or purchase water allocations.
Minister for Water Glenn Butcher said the free platform will help improve access to underutilised water across the state.
“It is important we make the most of our natural resources and this intuitive tool will help get water to where it is needed most,” he said.
“Queenslanders can use the tool to place or view ads for water, and these will include information such as volume, location and whether the water is available temporarily or on a permanent basis.
“The trading board ensures more visibility of the current water market, and if an allocation holder is not intending to utilise their water, they can trade it to someone who will put it to productive use.
“It also provides opportunity for irrigators and others to enter the water market through purchasing a permanent water allocation, if and when available.”
The water trading board, which is available via the Sunwater website (sunwater.com.au/water-trading-board), was developed by Sunwater in partnership with the Department of Regional Development, Manufacturing and Water.
While the platform will host ad listings, negotiations on price between buyers and sellers will occur outside the platform. The standard Sunwater process for a water sale or transfer will also remain.
The trading board initiative is part of the Queensland Water Markets Optimisation program, which aims to maximise the value and availability of underutilised water and improve visibility of market information.
In line with this program, Sunwater recently updated the Resource Operations Licenses for its water supply schemes to allow for the publishing of temporary trade price information, including the price paid per megalitre, the volume of water transferred, and where the water was transferred.
Sunwater CEO Glenn Stockton says these improvements to water services are another way that Sunwater is supporting its customer groups and will help increase customer knowledge regarding trades within their relevant water market.
“Customers are the central focus of Sunwater’s business and these additions to our services can help improve the way our customers operate their own businesses,” he said.
“Transparency about trade information and the availability of water is essential for water users and this information will assist in pursuing new business avenues and expanding existing productions.
“We hope this new tool will lead to better utilisation of water throughout the state.”