Dr Bailey said while storage levels were gradually falling at both Lake Eildon and Lake Eppalock, the spill risk for the 2023-24 irrigation season remains above the threshold needed for a declaration in each system.
“Water levels are reducing at both Lake Eildon and Lake Eppalock as water is released to meet downstream demands, though not enough to significantly change the spill risk,” he said on March 12.
“The Goulburn system risk of spill before the end of 2023-24 remains around 60 per cent and the Campaspe system falls slightly to 45 per cent.”
Dr Bailey reaffirmed that high storage levels at Lake Eildon and Lake Eppalock meant a low risk of spill declaration in each system may not occur before June.
“Water level management and reductions to spillable water account balances may still be necessary in the coming months in the Goulburn and Campaspe systems.
“Any deductions needed before the end of the water year will be finalised on June 10.
“The allocation remaining in spillable water accounts on that date will return to allocation accounts for entitlement holders to factor into their carryover planning for 2024-25.”
Dr Bailey reiterated the risk of spill assessment referred to water accounting only and did not describe the chances of flooding.
The risk of spill in the Goulburn and Campaspe systems will be updated on Wednesday, April 10.
Trading opportunities
Allocation trade from NSW to Victoria is limited to the lesser of a net annual volume of 200 Gl or a volume that keeps the risk of spill in the Victoria’s share of both Hume and Dartmouth reservoirs below 50 per cent.
The 200 Gl of net trade from NSW to Victoria remains available. The volume available for trade is updated with each risk of spill announcement.
For information about the resource manager’s regulated water systems, including seasonal determinations and resource availability, visit: https://www.nvrm.net.au
Visit the Murray-Darling Basin Authority website for Victorian shares of Murray storages.
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