Australian water markets report 2014-15

The Australian water markets report 2014-15 presents detailed information on water markets for the 2014-15 financial year, including statistics on water access entitlement and water allocation trade, market performance (trade processing times), entitlements on issue and environmental water. These statistics are presented nationally, for the southern Murray-Darling Basin (sMDB), and by state for systems outside the sMDB. \r\n\r\n Accompanying the report is a database of water trades from 2007-08 to 2014-15, and a spreadsheet containing the data underlying all report figures and commonly requested statistics. \r\n\r\nKey Issues \r\n\r\n In 2014-15, Australian water access entitlement trade and water allocation trade totalled 1796 GL and 5784 GL respectively. For water access entitlement trade, this was a decrease of 614 GL or 34 per cent compared to 2013-14, largely reflecting a decrease in Commonwealth environmental water recovery. For water allocation trade, this was an increase of 243 GL or 4 per cent compared to 2013-14. The Murray-Darling Basin accounted for 81 per cent of national water access entitlement trade and 94 per cent of national water allocation trade, after excluding 2172 GL of environmental transfers in the sMDB. \r\n\r\n The 2014-15 water year was characterised by below-average rainfall, runoff and streamflow in Australia. Storage volumes declined significantly, from 70 per cent to 59 per cent nationally. This continued a trend of declining storage volumes since the flood events of 2011 and 2012. The poor seasonal conditions resulted in water allocation percentages in major water markets being generally lower in 2014-15 than in 2013-14, driving increases in water allocation and entitlement prices in most water systems. \r\n\r\n Historically, there have been few constraints on trade between regions and trading zones within the major sMDB market, leading to fairly consistent water prices between regions. However, in recent seasons, trade restrictions have become more important, with changes in trade flows, the introduction of new limits and the reintroduction of previously suspended limits. \r\n\r\n In 2014-15, just 52 GL of water was recovered by the Commonwealth, predominantly through infrastructure. Around 5 GL of entitlements were purchased in 2014-15, mainly from the northern MDB.

本《2014-15年度澳大利亚水市场报告》详细披露了2014-15财年澳大利亚水市场的相关信息，涵盖水使用权与水配给交易、市场运行表现（交易处理时长）、已发放水权以及生态用水等方面的统计数据。上述统计数据按全国范围、南墨累-达令盆地（southern Murray-Darling Basin, sMDB）范围，以及南墨累-达令盆地以外流域的各州范围分别发布。

本报告附带2007-08至2014-15年度的水交易数据库，以及包含报告所有图表及常见需求统计数据原始来源的电子表格。

关键要点

2014-15财年，澳大利亚水使用权交易与水配给交易总额分别达1796千兆升（GL）与5784千兆升（GL）。其中水使用权交易规模较2013-14财年减少614千兆升，降幅达34%，这主要归因于澳大利亚联邦政府生态水回收量的下降。而水配给交易规模则较2013-14财年增加243千兆升，增幅为4%。若剔除南墨累-达令盆地境内2172千兆升的生态输水，墨累-达令盆地的水使用权交易与水配给交易分别占全国总量的81%与94%。

2014-15水文年度内，澳大利亚整体降雨量、径流量与河道流量均低于平均水平。全国水库蓄水量占比从70%大幅降至59%，延续了2011、2012年洪灾以来水库蓄水量持续下滑的趋势。恶劣的水文条件使得2014-15财年主要水市场的水配给比例普遍低于2013-14财年，进而推动多数水系统的水配给与水权价格上涨。

历史上，南墨累-达令盆地主要水市场内部各区域与交易区间的交易限制极少，因此各区域间水价基本保持一致。但近几个水文年度，随着交易流向发生变化、新交易限制措施出台以及此前暂停的限制措施重新启用，交易限制的影响愈发显著。

2014-15财年，联邦政府仅回收了52千兆升（GL）水资源，其中绝大部分通过基础设施项目完成。同期共收购约5千兆升（GL）水权，主要购自墨累-达令盆地北部地区。