Noosa News
ACCC calls for major overhaul of ‘outdated’ Murray-Darling Basin water markets
Australia’s $2 billion water market needs a major overhaul, according to the Australian Competition and Consumer Commission.
Key points:
- The ACCC has made 29 recommendations to overhaul the water market
- It recommends a new, dedicated regulator
- The Water Minister won’t commit to a timeline for implementation
An 18-month study by the competition watchdog found it was not illegal to manipulate the Murray-Darling Basin’s water markets, but recommended water deals be subjected to greater scrutiny and transparency.
The ACCC said the market had evolved as a by-product of decades of reform aimed at recovering water from the environment and was now in desperate need of its own dedicated set of reforms.
It found a lack of attention by federal and…
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