Frequently asked questions
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What is the National Water Market System?
The National Water Market System project is a Council of Australian Governments (COAG) water reform initiative. The Australian Government is investing $56 million in the development of the National Water Market System as part of the Water for the Future initiative.
The National Water Market System will strengthen Australia's water market through efficient management of improved state and territory water registers, water transactions and availability of market information.
The National Water Market System will support water accounting and resource management by providing market information and assisting with the accurate recording of water entitlements and management of transactions.
The objectives of the National Water Market System are to ensure:
- up-to-date information about the water market is easily accessible and readily available, increasing market transparency and allowing for more informed water trading decisions
- that each jurisdiction has a high-performing water register that accurately records water rights and supports water accounting and resource management
- transaction times for trades and other dealings are not limited by water register processes or functions
The National Water Market System project has three elements:
- Development of the National Water Market website (this website)
- Development of high performance state and territory water registers
- Seamless data transfer between water registers (interoperability)
National Water Market website
The first public deliverable of the National Water Market System is development of this website which provides a consolidated and comprehensive online resource of water market information.
The aim of this website is to provide easy access to accurate, comprehensive and timely water market information.
The first stage of this website (released in April 2010) provided information about:
- what makes up the Australian water market
- water trading rules and procedures
- water management
- water allocation announcements
- government support and water programs
- state and territory water registers
The next stage of the website, released in late 2010, included summary water market reports, including volume and price reports for water access entitlement and water allocation trades. This website will be continually improved and enhanced. Over time, the reporting function of the site will be increased to include historical trade data as well as trend and analysis capabilities and user driven reporting capabilities.
High performance state and territory water registers
A major element of the NWMS is development of the Common Registry Solutions (CRS) to replace and standardise existing water registers in New South Wales, Western Australia, South Australia, Tasmania, the Northern Territory and the Australian Capital Territory. The CRS will deliver:
- a new register system
- personal water accounting
- online logging and tracking of water entitlement trade applications.
The existing Victorian and Queensland water registers are not a part of the CRS project as they have already been upgraded. These registers will be further enhanced as part of the broader NWMS project.
Seamless data transfer between water registers (interoperability)
Through the National Water Market System project, the Common Registry Solutions and the enhanced Victorian and Queensland registers will work together so that data can be transferred automatically between each register. The automated exchange of information between state and territory water registers will facilitate efficient interstate trade, particularly in the Murray-Darling Basin. Initially, interoperability will be achieved through the automation of information exchange between existing registers in New South Wales, Victoria and South Australia. In the future, interoperability will be accomplished through implementation of the Common Registry Solutions or other arrangements between connected states and territories.
What is the purpose of the National Water Market System?
The National Water Market System will strengthen Australia's water market through efficient management of improved state and territory water registers, water transactions and availability of market information.
The National Water Market System will support water accounting and resource management by providing market information and assisting with the accurate recording of water entitlements and management of transactions.
How will the National Water Market System make interstate trade quicker and easier?
A major element of the NWMS is development of the Common Registry Solutions (CRS) to replace and standardise existing water registers in New South Wales, Western Australia, South Australia, Tasmania, the Northern Territory and the Australian Capital Territory. The CRS will deliver:
- a new register system
- personal water accounting
- online logging and tracking of water entitlement trade applications.
The existing Victorian and Queensland water registers have already been upgraded and will be further enhanced and made compatible with the CRS.
Through the National Water Market System project, the CRS and the enhanced Victorian and Queensland registers will work together so that data can be transferred automatically between each register. The automated exchange of information between state and territory water registers will facilitate efficient interstate trade, particularly in the Murray-Darling Basin.
How quickly will trades be approved?
In accordance with COAG agreed water market reforms, once the National Water Market System is operational, 90 per cent of all intra and inter state water allocation trades (temporary trades) must be completed within five business days. The Natural Resource Management Ministerial Council agreed service standards for water access entitlement trades (permanent trades) are 20 days for transaction approval and ten days for registration. These service standards will improve trade efficiency and increase confidence and transparency in the water market.
What will be done to improve the quality of water register information?
Once fully operational, the National Water Market System website will provide access to state and territory water register information that is up-to-date, accurate and in a consistent format between registers. Assessing and improving the quality of information is a major consideration for the National Water Market System project.
Why don't you just create a single water register?
States and territories will retain their statutory role for managing water register functions.
A major element of the NWMS is development of the Common Registry Solutions (CRS) to replace and standardise existing water registers in New South Wales, Western Australia, South Australia, Tasmania, the Northern Territory and the Australian Capital Territory. The CRS will deliver:
- a new register system
- personal water accounting
- online logging and tracking of water entitlement trade applications.
The existing Victorian and Queensland water registers are not a part of the CRS project as they have already been upgraded. These registers will be further enhanced as part of the broader NWMS project. The CRS and the enhanced Victorian and Queensland registers will be developed so that data generated will be accurate and consistent and be able to be exchanged between the registers.
How can I be involved in the National Water Market System project?
The National Water Market System Branch within the Department of Sustainability, Environment, Water, Population and Communities welcomes feedback. Feedback can be lodged electronically through the Contact us page on this website or by emailing nwms@environment.gov.au.
What is the National Water Market website?
The first public deliverable of the National Water Market System is development of this website which provides a consolidated and comprehensive online resource of water market information.
The aim of this website is to provide easy access to accurate, comprehensive and timely water market information.
How is the National Water Market website being developed?
This website will be continually improved and enhanced. Over time, the reporting function of the site will be increased to include historical trade data as well as trend and analysis capabilities and user driven reporting capabilities.
Why is the National Water Market website being released in stages?
The National Water Market System website is an evolving resource. It will provide access to reports and projects as soon as they are developed, rather than the release waiting for all information to be available.
When will daily/live water market reports be available?
The National Water Market System project team is working with state and territory governments and the Bureau of Meteorology to ensure that up-to-date and useful information is available on the website.
What will the fully functional National Water Market website provide?
The aim of the website is to provide easy access to accurate, comprehensive and up-to-date water market information.
Who is the National Water Market website for?
The National Water Market website will be useful for anyone interested or involved in the Australian water market. This may include:
- water access entitlement holders
- water users
- government agencies, including trade approval authorities and water managers
- rural water utilities/irrigation infrastructure operators
- water brokers and other trade intermediaries
- environmental interest groups
- researchers.
How can I provide feedback about the National Water Market website?
The National Water Market System Branch within the Department of Sustainability, Environment, Water, Population and Communities welcomes feedback. Feedback can be lodged electronically through the Contact us page on this website or by emailing nwms@environment.gov.au.
How do I find out about National Water Market System tenders?
All NWMS tender information will be made available on the AusTender website .