A time of progress for Murray Irrigation

Murray Irrigation is making solid progress in a range of areas, all designed to strengthen the company, both in the immediate future and for future generations.

The company’s focus is firmly on delivering as much water as possible to customers, at the most affordable price. It is also working actively with governments and government departments to limit the impacts in the region from potential water buybacks.

Chair Phil Snowden said over the past 12 months the Board had worked closely with management to deliver results for both customers and shareholders, and he wants to lead further progress this year.

“Our financial strategy is working, with the company announcing a $979,000 profit for the 2022-23 year, a significant improvement on the projected $7.4 million loss," Mr Snowden said.

“Our half year financial results for the 2023-24 year have also validated this strategy.

“We understand the importance of maintaining infrastructure, and have a sound strategy to invest in future infrastructure maintenance and upgrades to ensure we continue to operate one of the best gravity-fed irrigation systems in the world.”

Mr Snowden highlighted the company’s sale of temporary water strategy, which has recently undergone review so it is more efficient, keeps fees and prices as low as possible and continues to distribute water to customers via WaterWell. 

“The strategy ensures the company is financially viable, while continuing to distribute maximum volumes to customers and putting downward pressure on fees and prices. It is important for customers to understand that this sale of temporary water strategy is not taking WaterWell away,” he said. 

Mr Snowden explained, Murray Irrigation has delivered both a three per cent resource distribution and a five per cent water users’ credit for the 2023-24 water season. Including temporary water sales, in gigalitres (GL), Murray Irrigation returned 170GL to the footprint, 70GL of this free of charge. 

Another area of focus for Murray Irrigation has been government relations, in an effort to limit impacts of the Basin Plan, offer alternatives to water buybacks and advocate strongly for irrigators and the region’s communities.

“We are having quarterly meetings with NSW Water Minister Rose Jackson and have had direct contact with Federal Water Minister Tanya Plibersek. Developing relationships of this nature is not easy and we are very pleased with the progress that has been made," he said.

“We are also collaborating with fellow Irrigation Infrastructure Operators in the southern connected basin so we have a united voice to the Ministers and their departments, and this has been recognised in a positive way.

“It is important to have a seat at the table, which provides us with a platform to participate in policy discussions and offer advice in the best interest of our shareholders.

“We also continue to build relationships with agencies including the Murray-Darling Basin Authority and Commonwealth Environmental Water Office. This can deliver tangible results, including through the use of our infrastructure for delivery of environmental water which helps diversify our revenue base and provide a broader distribution of our fixed costs, for the benefit of customers.”

Mr Snowden said Murray Irrigation is continuing to develop and promote Restoring Murray Waterways as a potential SDLAM project. 

“As announced in November, Murray Irrigation has secured $33.5 million in Commonwealth funding for the next stage of this innovative environmental watering initiative,” he said.

The project is focused on reviving the health of, and restoring connection to, the region’s valuable creeks and wetlands. In addition to improved ecological outcomes, it will create local jobs, involve partnerships with First Nations communities and is a potential contributor to the Murray-Darling Basin Plan.

“Another pleasing achievement is the $2.7 million of NSW Government funding to conduct load assessments on public bridges and culverts across its network," Mr Snowden said. 

“I feel honoured to be Chair of an organisation that is making such a positive contribution to our region, and look forward to building on our many recent achievements.”