Trades between Victorian Murray and NSW Trades between Victorian Murray and NSW Murray

Trades between Victorian Murray and NSW Murray

(17) A State transfer account is kept at Hume Reservoir to track net transfers of allocation and transfers of entitlement between NSW Murray and Victorian Murray.

(18) The account is kept by RMW. It is based on figures for net transfers of allocation (temporary trade) provided monthly by NSW and Victoria, and on figures for increases of allocation to transferred entitlements (permanent trade) provided as they occur.

(19) The account is adjusted for net transfers of allocation (temporary trade) between NSW and Victoria by the full value of the trade.

(20) In the case of exchange rate trade, each year the account is adjusted for progressive transfers of entitlement (permanent trade) by the increase in allocations made to the high reliability product in the selling valley (see clause 1, Appendix 2 of Schedule D – i.e. a lower reliability product is first converted to high reliability in the selling valley)

(21) In the case of tagged trade, the adjustments are calculated as described in clause 7.2, and applied with the timing described in clause 8.3.

Note that:

• In principle, under tagged trade the net trade in or out of each entitlement product and the usage of each product must be considered and the result amalgamated into an aggregate net use. This means that the net use of each Victorian product traded to NSW must be calculated and subtracted from the net use of each NSW product traded to Victoria.
• There is a small legacy (about 3.6 GL as at May 2006) of exchange rated trade from Victoria to NSW resulting from the Pilot Scheme. There is no way to identify all of the specific individuals who hold this entitlement so actual use cannot be recorded. This will be accounted for in the future as it has been in the past – transfer of the allocations made to the nominal High Reliability volume traded.

(22) The water is delivered by adjusting the water allocated to NSW and Victoria in Lake Hume by the volume remaining in the transfer account on a monthly basis from September to April in proportion to the SA entitlement flow from September to April. Any amounts added to the transfer account in May and June are delivered in those months. The transfer account is reduced by the amounts delivered.