Australia's $1.5 billion water market could be set for major reform after a report by the Australian Competition and Consumer Commission found "significant deficiencies" with the trade.by the competition watchdog released by the Treasurer today suggests tighter regulation is needed for market participants, including water brokers and exchange platforms, which it found had been allowed to operate mostly without regulation, allowing "conflicts of interest to arise".
The report also said "rules to guard against the emergence of conduct aimed at manipulating market prices" were "scant" and that there was "no body to monitor trading activities of market participants". The report recommended improving transparency about how water is traded and disallowing zero dollar trades.The ACCC is calling for increased "harmonisation across Basin States registers through consistent terminology and data structure".
so backwards..even so, many developing countries have more desalination plants in their country than Australia. looks like the politicians don't think and always praying to rain gods..lol..hope someone shakes their brain awake.
This is the standard for the Liberal Government. Deficient at regulation and policy!
water traders are manipulating the market Some are foreign owned The tragedy of selling farmland n water rights to foreign entity They choking us as a country