Queensland Regional Development and Water Minister Glenn Butcher confirmed that irrigation prices in all Sunwater and Seqwater supply schemes would soon be capped at the Queensland Competition Authority’s assessed cost reflective level, often referred to as the lower bound price.
Through the policy change, where water prices are higher than lower bound prudent and efficient costs, prices will now be reduced to reflect the efficient or actual cost, whichever is lower.
Current water prices that are below cost reflective prices, will continue to transition towards cost reflective prices as per the irrigation price path.
“QFF and its industry members have been advocating for many years on water pricing structures and the inequities this pricing can present for Queensland farmers,” QFF CEO Jo Sheppard said.
“This will include more jobs, more profitability for farming businesses resulting in more expenditure in regional communities, as well as ensuring fresh food is affordable for all Queenslanders.
“QFF welcomed the opportunity to work with the government’s to support this recommendation which will benefit our members and irrigators across Queensland more broadly.”
Mr Butcher said his government’s decision provided for more equitable and consistent irrigation pricing arrangements across all schemes.
“Agriculture is one of the major contributors to Queensland’s economy so it’s absolutely critical that we do whatever we can, to make sure product is making it from paddock to sale in the most efficient way possible,” he said.
“We know this decision will help contribute to more good jobs and the continuation of great services provided by Queensland farmers, which is a priority for the Palaszczuk Government.”
The QCA will now review irrigation water pricing through consultation with irrigators, with the current price path to remain until to 2024-25.
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