Chair Update - Murray Irrigation Board Meeting - 27 May 2026

Murray Irrigation Limited (Company) held a Board meeting on Wednesday 27 May. This Board meeting covered a number of important elements including the ongoing implementation of the new Fee Structure, as well as the 2027 budget and Resource Management Strategy.
 
Fee Structure
 
Management provided the Board with an update on the implementation of the new fee structure which will commence from 1 July 2026. This update included the changes that will occur to the Fees and Prices Policy and the Schedule of Charges, including the removal of the fixed Delivery Entitlement fee and the AMRR fee from 1 July 2026.
 
On this subject, I am sure everyone would have seen the 2026-27 indicative 0% opening general security allocation announcement made by the NSW Department of Climate Change, Energy the Environment and Water on 15 May 2026.
 
One of the key principles behind the new fee structure was to algin the Company’s income cycle with our customers’ ability to pay. As a Board, while we always wish for 100% allocation, we are pleased the implementation of the new fee structure prior to the commencement of the new water year will help ease cost pressures from Company charges for the majority of our customers as we enter another low/no allocation season opening.
 
The Fees and Prices Policy and the Schedule of Charges will be issued to customers in June 2026 in line with legislated notice requirements. 

2027 Budget
 
The Board has approved the 2027 Budget.
 
Resource Management Strategy
 
The Board discussed and approved the Resource Management Strategy. As communicated in last month’s Board Update, under the new fee structure:

• Following the commencement of the 2026/27 water year, up to 80GL of Sustainability Product will be available via expression of interest (EOI) as per previous years. Delayed payment options will again be made available to eligible customers who participate in the EOI. Details on the timing of the Sustainability Product release will be made available early in the new water year.
• Following a 1% general security announcement, a 5% Water Users Credit will be applied to every megalitre used on farm through a compliant outlet to eligible water using customers. This credit will be applied to customer water allocation accounts daily, based on imported meter readings.
• There will no longer be any Allocation Advance or Resource Distribution products.

 
Water Solutions
 
Management provided the Board with an update on Water Solutions. It is nearly 12 months since the pilot was launched in July 2025. The Board is very pleased with how Water Solutions has performed over this period, achieving all its financial and operational goals, generating important revenue for the business and covering its own costs (including interest payments) in the first year of operation. Water Solutions is retaining more water within the footprint for productive use by irrigators. We look forward to seeing this product continue to evolve and to retain more productive water in the Company’s footprint and we will provide more information in the Annual Report.
 
Committee updates
 
The Board received updates from three of the Company’s four committees; the Water Risk Committee, the Audit and Risk Management Committee and the Remunerations and Nominations Committee. These committees are an important element of the Company’s governance structure to assist the Company to manage risk and regulatory obligations and continue to bring great value to the Company’s decision-making processes.
 
Director lunches
 
After the positive feedback from last year’s Director lunches, we will be hosting these again in Finley on 25 June from 1:00pm and Wakool on 27 August from 1:00pm. Further details will be provided in Talking Water closer to the date. These informal lunches provide a great opportunity for shareholders to interact with Board Directors in an informal setting.

If shareholders have any questions in the meantime, please contact the Company Secretary on:
 
T. 1300 138 265
E. companysecretary@murrayirrigation.com.au
 
Murray Irrigation Board of Directors
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