Murray Irrigation

Company progress 2022-2031

A snapshot of where we’ve been, where we are, and where we’re going.

From 2022 to today, Murray Irrigation has strengthened our foundations, secured long-term investment pathways, implemented measures to mitigate the impacts of government buybacks, and launched solutions to protect productive water, stabilise fees and safeguard infrastructure.


Looking ahead to 2031, Murray Irrigation is focused on:


  • Water security,
  • Financial stability,
  • Cost certainty for irrigators, and
  • Ensuring a sustainable, resilient irrigation network for generations to come.

Key Deliverables

2022–2023: Strengthening the Foundations

Business Review Completed

  • Comprehensive bottom up business review commenced in 2022, with findings shared across the Murray Irrigation footprint in September 2023.
  • Laid the foundations for long-term strategic planning and investment.
  • Fees capped to CPI only (excluding government pass-through costs) until 2029 to provide certainty.

Commitment to Irrigators

  • $54M over 5 years target for future infrastructure investment (average $10.8M/year).
  • $100M in capital reserves by 2029 to support ongoing renewal of the ageing asset base.
  • Long-term ambition: Build towards $400M (NPV $160M) by 2064 to sustainably maintain $1B in essential water delivery infrastructure.

Investment Strategy Established

  • Review launched following 2022 flood impacts to guide future resilience and infrastructure improvements.

Drainage Review Initiated

2024: Planning, Preparing & Engaging

Asset Renewal Planning

  • Commenced planning for a detailed foundational asset condition assessment to determine future costs, asset life cycles, and long-term reinvestment needs of Murray Irrigation's $1B in irrigation assets.

Restoring Murray Waterways Program 

  • Upgrading existing infrastructure and building new infrastructure in collaboration with Commonwealth and NSW governments to offset further water recovery within the region and utilise already recovered water more efficiently. 
  • View Restoring Murray Waterways

Launch of ICT Reform – Project Streamline

Shareholder Discussion Groups 

  • Purpose: To explore shareholder views on using market-based tools to mitigate the impact of government buybacks by retaining productive water in the footprint.
  • Outcome: The concept achieved strong support, with the condition that Murray Irrigation complete due diligence and run a pilot.
  • Shareholder feedback guided the development of Water Solutions.
  • View Sentiment Report

2025-2026: Delivering Solutions

Water Solutions Pilot Launched

  • Murray Irrigation enters the water market to purchase permanent water entitlements for the purpose of retaining productive water within the local footprint.
  • Designed as a pilot, in line with shareholder feedback.
  • Murray Irrigation will return to shareholders in the second half of 2026 with results from the Water Solutions pilot.

Foundational Asset Condition Project Completed

  • Launched January 2025; all asset inspections completed by June 2025.
  • Provides baseline data to guide cost forecasting and infrastructure renewal priorities.
  • View Project

Asset renewal planning

  • Data obtained from the Foundational Asset Condition Assessment Project has informed future requirements for the ongoing investment in the Company’s assets.

Restoring Murray Waterways Project 

  • Continued target of an average of $10.8M/year in water sales revenue to:
  • Maintain and renew $1B in irrigation assets.
  • Build toward the 2029 capital reserve goal.

Ongoing Investment Funding Requirement

  • Updated organisational direction, outcomes and priorities endorsed by the Board.
  • View Strategic Plan

New Strategic Plan Released (May 2025)

  • Providing allocation certainty to participating customers over a two year period.
  • Product offering exclusive to Murray Irrigation customers.
  • View Forward Allocation Product

Forward Allocation Product (Jan 2026)

  • Simplifying the company’s fee structure by removing fixed Delivery Entitlement fees and introducing increased variable water delivery fees.
  • The new fee structure will come into effect on and from 1 July 2026. It will:
  • Remove fixed fees associated with Delivery Entitlements (DEs),
  • Increase the variable water delivery fee based on volume used, and
  • Align outlet fees to cost recovery 
  • Further information can be found here.

Updated Fee Structure

Present–2031: Looking Ahead

Financial Stability & Irrigator Certainty

  • Target: $100M in capital reserves by 2029.
  • From 1 July 2026, fee increases limited to CPI only (excluding government pass through costs) until 2031.
  • Annual sale of company water (including Forward Allocation Product) of water to:
  • Support ongoing asset investment.
  • Underpin the removal of DE fees.
  • Maintain fees and prices to CPI increases.

Asset renewal planning

  • Continue to appropriately provision to maintain the Company’s $1B+ worth of infrastructure 
  • Continuous improvement to the Company’s Asset Management System

Strengthening Water Security

  • Ongoing sale of temporary water allocations purchased through Water Solutions to support productive use in the footprint.
  • Expansion of environmental watering programs with RMW Stage 5.  Construction commenced in 2026.
  • Water Solutions continues as a long-term tool subject to meeting its objectives.
  • Revenue diversification supports lower long-term costs for irrigators.
  • Continued focus on Board-endorsed strategic priorities, including ICT upgrades, operational efficiency, customer value and long-term sustainability for future generations.

Delivering the Strategic Plan

  • Implementation of recommendations from the Drainage Review.
  • Investment into redesigning flood structures and addressing increased flood risk.
  • View Drainage Review

Drainage & Flood Resilience

  • ICT upgrades and modernisation.
  • Strong advocacy to minimise government-imposed cost pressures.
  • Improved asset management to extend asset life and reduce long-term expenditure.

Cost Management & Efficiency