“Water level management operations resumed at Lake Eildon and Lake Eppalock with the rain,” Dr Bailey said.
“The releases continued until late January and will cause deductions from the spillable water accounts in the Goulburn and Campaspe systems.
“The volume and percentage deduction will be confirmed in the February 15 seasonal determination assessment.”
Dr Bailey said high storage levels at Lake Eildon and Lake Eppalock meant a declaration of a low risk of spill in each system may not occur before June 2024.
“Right now, the risk of spill at Lake Eildon and Lake Eppalock before the end of the 2023-24 water year is greater than 10 per cent,” he said.
“Level management may still be necessary at each storage and could impact spillable water accounts.
“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.
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.
Next announcement
The risk of spill in the Goulburn and Campaspe systems in 2023-24 will be updated on Monday, March 11.
For information about the resource manager’s regulated water systems, including seasonal determinations and resource availability, visit: https://nvrm.net.au/
For information about Victorian shares of Murray storages, go to the MDBA website at: https://www.mdba.gov.au/water-use/allocations/special-accounting-water-sharing-dry-times
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