Water market set for shake-up as ACCC ordered to investigate if trade is fair

Who buys and sells Australia's water will be the focus of a new study by the Australian Competition and Consumer Commission .It will investigate who owns and trades water throughout the Murray-Darling Basin, including the role of investment funds and other"significant traders"

The ACCC will have 15 months to report to the Federal Government on the role that water brokers, exchanges, investment funds and"significant traders" are having across the Murray-Darling Basin.subsequently driving up the price consumers must pay for their produce. "As with any market it is important to take a look at how it is performing, whether it is operating as intended and to the benefit of communities who rely on the basin," Mr Frydenberg said.and dams are managed and how water can be transferred between valleys and irrigation districts.

"It is important the market is operating as intended, our regional communities depend on it," Mr Littleproud said.

Wow, took their time. Only about three years too late.

Any resource (electricity grid, rivers etc) that cross state boundaries MUST be controlled by one body which should be randomly audited by external experts, any less invites corruption

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