ACCC talk water market reform with irrigators, water authorities in visit to MIA

The final report was released on March 26 and included 29 recommendations on how to improve and simplify the water trading system.

One of these recommendations is the creation of an independent "Water Markets Agency" to handle market regulation across the basin.

A crowd of about 40 irrigators, basin authority representatives, water traders, council staff, and politicians attended the public forum at the Griffith Exies Club to discuss the inquiry with the ACCC.

Attendees were generally in support of the recommendations, however there were concerns the Federal Government would not implement them.

ACCC deputy chair Mick Keogh said the discussion was informative.

"Generally, people recognise the frustrations with the complexity of the water market and the poor information that is available," Mr Keogh said.

"Our recommended solution includes a dedicated agency and I think sometimes people are naturally reluctant to create a new agency.

"But without a dedicated agency active in the market overseeing trade, making recommendations and pushing for reforms, what we end up with is almost inertia.

"No one is responsible, so no one decides, so therefore nothing gets fixed."

Leeton Shire Council mayor Paul Maytom attended the meeting, but wanted to know where to from here.

"Obviously it was good to hear a little bit of a rundown, but obviously the concern is where does this report go to and will it be enacted?" he asked.

"The report itself is a good report and it identifies a whole range of areas that need to be improved upon.

"But there needs to be more clarity, especially in conveyance loss and how that is measured and how it affects the cost of water"

"I support the recommendations, but I feel like we have to have assurances that the most relevant and beneficial recommendations are picked out and enacted."

Speaking after the forum, Member for Murray Helen Dalton echoed this sentiment.

"It will be very interesting to see whether the recommendations are taken up by the government," Mrs Dalton said.

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"There's got to be one platform where all trade is done, like the stock exchange. I don't know why at the moment it is just a free for all."

Mrs Dalton added she "couldn't believe" the ACCC inquiry found no clear evidence of market manipulation.

"I don't think they looked very hard," she said.

The report is now in the hands of the federal government who will decide whether or not to implement the recommendations.

The full report is available on the ACCC website.

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