Floods mean surplus environmental water is now available for sale

Especially when the Murray River is flooding, some inland lakes have filled for the first time in many years and almost all the irrigation storages have filled to overflowing.

In terms of irrigation water, the nation has hardly ever been in a better position.

Victoria's Environmental Water Holder says nature has already done much of its job for it.

For instance, GMWater in the west of the state, said inflows to its reservoirs in November was approximately 860 per cent of average.

Its largest reservoir, Rocklands, reached 70 per cent full to trigger the opening of channels to the virtually dry Lake Toolondo.

The VEWH has announced the sale up to 45,000 megalitres of its environmental allocation via temporary trades from the Murray and Goulburn systems between January and June 2023.

Joint VEWH chief executive Beth Ashworth said the VEWH expected all planned environmental watering for northern Victoria would be achieved in 2022-23 and into 2023-24.

"To date, more than 95 per cent of watering actions planned to be delivered in northern Victoria have been achieved through naturally occurring high flows or deliveries of environmental water before floods started," Ms Ashworth said.

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"Environmental water deliveries from July 2022 in northern Victoria were low in response to wet conditions, and during September to November the majority were paused as above average rainfall continued and floods commenced," Ms Ashworth said.

"Our demand and supply assessment confirms the VEWH has sufficient water to deliver priority watering actions for the remainder of 2022-23 and into the following watering year," Ms Ashworth said.

These watering actions may also have a role in helping mitigate flooding impacts and enhancing ecological benefits as flood waters subside.

"A sale will also reduce the risk that water for the environment being carried over into 2023-24 will be lost to spill," Ms Ashworth said.

The VEWH says it takes care to avoid affecting other commercial sellers in the water market.

"We conduct weekly assessments of market activity before releasing water to the market to ensure the VEWH alone does not affect market dynamics and pricing, and the sale of up to 45,000 ML will be staggered to minimise impacts," Ms Ashworth said.

The water allocation will be progressively made available through selected brokers and online exchanges.

The revenue from the sale of water will be used to improve the outcomes of environmental watering in Victoria.