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.

《2014-15年度澳大利亚水市场报告》呈现了2014-15财年澳大利亚水市场的详细信息，涵盖水使用权（water access entitlement）与水配给（water allocation）交易、市场运行情况（交易处理时长）、已发放水权及生态用水相关统计数据。上述统计数据按全国范围、墨累-达令盆地南部（southern Murray-Darling Basin，简称sMDB）以及墨累-达令盆地南部以外地区的所属州分别统计呈现。

本报告附带2007-08至2014-15年度的水交易数据库，以及一份包含所有报告图表及常规需求统计数据原始支撑数据的电子表格。

核心要点

2014-15财年，澳大利亚水使用权交易与水配给交易总量分别达1796 GL与5784 GL。其中水使用权交易量较2013-14财年减少614 GL，降幅达34%，这一变化主要源于澳大利亚联邦政府（Commonwealth）生态水回收量的下降。而水配给交易量则较2013-14财年增加243 GL，增幅为4%。若剔除墨累-达令盆地南部2172 GL的生态调水，墨累-达令盆地的水使用权交易量与水配给交易量分别占全国总量的81%与94%。

2014-15水文年度（water year），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年洪水事件以来的蓄水量持续下降趋势。恶劣的水文条件使得主要水市场的水配给比例在2014-15财年普遍低于2013-14财年，进而推动多数水系统的水配给与水使用权价格上涨。

长期以来，墨累-达令盆地南部主要市场内各区域与交易区间的水交易几乎不受限制，使得区域间水价格保持相对一致。但近年来，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条款重新生效，交易限制的影响愈发显著。

2014-15财年，澳大利亚联邦政府仅回收了52 GL的生态用水，其中绝大多数通过基础设施改造实现。本财年共收购约5 GL的水使用权，收购来源主要为墨累-达令盆地北部。