Southern Rural Water’s second online water allocation

Southern Rural Water’s second online water allocation auction closed with 690 bids for the 400 megalitres on offer.

SRW managing director Clinton Rodda said the auction was for allocation water, available only this season, rather than permanent water shares.

Thirteen lots of water ranging from five to 100ML were offered via an online auction. All were sold, with prices ranging from $170 to $275 per megalitre and an average price of $257 per megalitre.

“This was a significant increase in average price of $157 per megalitre achieved at the auction in November 2015,” Mr Rodda said.

“A total of $102,715 was raised which will be used on modernisation projects to save further water and improve service throughout the district.”

Mr Rodda said the next online allocation auction would begin January 14, when another 250ML will be on offer.