HomeCouncilTemporary transfer of water allocation auction now open

Temporary transfer of water allocation auction now open

temporary transfer
An auction for temporary transfer of medium priority water allocations is now open

Following requests from local farmers, Bundaberg Regional Council has made a water allocation, which is surplus to the community’s needs, available for temporary transfer through sale by auction.

The temporary transfer of medium priority water allocations was approved in the July 31 Ordinary Meeting of Council.

“In response to those requests, Council has identified that its water allocation of 1,000ML … purchased to ensure future water supply, is surplus to Council’s needs for this water year (ending 30 June 2022),” the meeting agenda report said.

“The announced allocation for medium priority water in the Bundaberg Scheme is currently 22% meaning Council has 220ML available for temporary transfer.”

Ruralco Water Brokers has been engaged to undertake the auction.

“By using a water broker and auction process, Council is removed from the process ensuring that it is an open and transparent temporary transfer that is available to all interested parties,” the report said.

“It is further suggested to allow more than one entity to benefit from the water that it be split into the following lots:

1. 4 x 50ML; and

2. 1 x 20ML.”

Ruralco will be conducting the auction online. Any bids in the last minute of the auction add an additional three minutes to the countdown until the ‘room is silent’.

The auction for temporary transfer of medium priority water allocations is now open and the five components of the auction will close on Friday 24 September as follows:

10am – 20ML – view auction details and bid here
11am – 50ML – view auction details and bid here
1pm – 50ML – view auction details and bid here
2pm – 50ML – view auction details and bid here
3pm – 50ML – view auction details and bid here

For more information about how to participate in the auction, contact Lincoln Parr at Ruralco Water Brokers on 0419 473 153.

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