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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Determine excess water available at the end of water year
   • Confirm entitlement and current water holding account
   • Determine regulatory limits on amount of water that can be carried over
   • Determine quantities of water to carryover, sell or park
2. Consider options for water that may be sold or carried over or parked
   • Monitor long term weather and water allocation announcements, and other announcements that may affect water trading decisions
   • Research storage facilities where carryover or continuous accounting water may be stored
   • Research trading zones where water may be sold prior to end of water year
   • Research regulations and rules that apply to storing and/or selling carryover or continuous accounting water
   • Determine costs of storing water
   • Undertake cost benefit analysis and risk analysis related to selling, buying or retaining water as carryover or continuous accounting
   • Identify water loss risks associated with having water in account that is not carried over, sold or parked at end of water year
   • Decide quantity of water to store as carryover or continuous accounting water
3. Find external space to park carryover water
   • Identify platforms, water brokers and other trading options to facilitate the holding of water as carryover or continuous accounting
   • Select person or organisation that has capacity to hold water as carryover or continuous accounting, negotiate and agree costs of storage and retrieval of water
   • Select water trading platform and/or engage water broker to facilitate carryover water transaction if required
   • Check and confirm terms and conditions of carryover water or continuous accounting contract.
   • Commit to carryover water or continuous accounting transaction and complete transaction using appropriate water broker, trading platform or other method
   • Undertake ongoing requirements that apply to transaction, if required
4. Rent out unoccupied storage space for parking water
   • Assess parking space available as part of water entitlement and potential risks of leasing the parking space
   • Research market and determine pricing of parking space
   • Check formal and informal leasing opportunities
   • Negotiate rental or lease of space and complete documentation
   • Identify ongoing compliance requirements of agreement

Performance Evidence

An individual demonstrating competency must satisfy all of the elements and performance criteria in this unit.

There must be evidence that the individual has undertaken the processes to complete at least two different carryover or continuous accounting water transactions. One transaction is to be for an average year, and the other for either a dry or wet year. For each transaction, the individual must have:

determined carryover or continuous accounting water requirement for the upcoming water year

identified water for retention and water proposed for sale

confirmed regulatory requirements and rules related to proposed transactions

completed a cost benefit analysis for water transaction

purchased more carryover or continuous accounting space

used digital technologies to research water products

produced a report for each water transaction that includes:

determination of carryover or continuous accounting quantity and type proposed for transaction

cost benefit analysis

risk analysis

key sources of information for water products

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Knowledge Evidence

An individual must be able to demonstrate the knowledge required to perform the tasks outlined in the elements and performance criteria of this unit. This includes knowledge of:

key features of regulations that apply to carryover or continuous accounting within a water market

functions and compliance powers of water authorities that apply to carryover or continuous accounting within a water market

limitations of licence types related to carryover or continuous accounting within a water market

water use licences and water trade restrictions that apply to local area

key features of water entitlements and water allocations, including seasonal variations

key principles of carry over water or continuous accounting

types and classes of water available in local and other markets applicable to carryover or continuous accounting

features and benefits of carryover or continuous accounting

key considerations when undertaking cost benefit analysis for carryover or continuous accounting

risk analysis related to carryover or continuous accounting including long range weather forecast, soil carbon, and long-term water allocation

water trading rules and guidelines related to carryover or continuous accounting for a specific property

key sources of current information on allocation, allocation announcements, water products and market opportunities

common digital technologies used to research water market products, including accessing websites using personal computers and mobile devices

historical data and analysis on long-term reliability of different entitlement types or water products

considerations when developing a strategy for carryover water or continuous accounting options, including:

total volume

timing and/or sequencing water sale

legal advice

securing water for following season

financing options

water allocation seasonal forecasts

carryover access conditions or scheme rules as determined by legislation

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