Water Market Brownbag Lunch Discussions
Interstate Commission on the Potomac River Basin
Water markets are a promising tool for managing water scarcity. Water trading systems are developing and expanding throughout the world, especially in areas which have recently suffered serious drought. Though the eastern United States is fortunate to have relatively ample water supplies much of the time, severe droughts have occurred in the past and can be expected to occur in the future. Population growth and potential impacts of climate change may exacerbate water shortages in future droughts.
Conditions in the upper Potomac River basin, that is, the portion of the watershed upstream of Little Falls dam near Washington, D.C., are such that a water market may be feasible and may contribute to a more efficient use of regional resources. Potential problems in future water availability have been established and stakeholders are searching for solutions. Regulatory drivers are already in place which require certain water users to secure water storage to mitigate consumptive use of water. A nascent market for water storage is already evident.
Beginning in November 2015, the Interstate Commission on the Potomac River Basin (ICPRB) held a series of brown bag lunchtime meetings focused on water markets beginning. The schedule for the meetings, as well as links to any reading materials, is below.
Provide an informal venue for participants to:
- Learn about existing water and environmental markets, including institutional and regulatory support and technical support tools
- Discuss the potential role of water markets in assuring the adequacy of water supplies and stream flows
- Discuss ways in which ICPRB and others could facilitate the development of a water market in the upper Potomac basin
|Nov. 4, 2015||Scope and Background||Cherie Schultz, ICPRB|
|Dec. 9, 2015||Overview of Water Markets in California||Susan Burke & Paul Leonard, Cardno|
|Jan. 7, 2016||Water Markets in California: Case Studies||Susan Burke, Cardno|
|Feb. 3, 2016||Nutrient Trading in the Chesapeake Bay Watershed||Mindy Selman, Office of Environmental Markets, USDA|
|Mar. 2, 2016||DC’s Stormwater Retention Credit Trading Program||Evan Branosky, Stormwater Management Division, DOEE|
|Apr. 7, 2016||Groundwater Trading in Virginia||Kurt Stephenson, Department of Agricultural and Applied Economics, Virginia Tech|
|May 26, 2016||Water Trading in Australia||Mike Young, research chair in water and environmental policy, University of Adelaide|
Meeting 7 (May 26), Water Trading in Australia
- Presentation by Mike Young, The University of Adelaide and Nicholas Institute for Environmental Policy Solutions
- Young, M. (2015) Unbundling Water Rights: A Blueprint for development of robust water allocation systems in the western United States. NI R 15-01 Durham, NC. Duke University.
- Young, M.D. (2015) Doubling the Value of Water in the American West. Water Economics and Policy 1(4):1-7.
- Young, M. (2014) Designing water abstraction regimes for an ever-changing and ever-varying future. Agricultural Water Management 145:32–38.
- Young, M.D. and McColl, J.C. (2005) Defining tradable water entitlements and allocations: A robust system. Canadian Water Resources Journal 30(1):65-72.
- Young, M.D. and Esau, C.S. (eds.) (2016) In search of policy excellence: Guidelines for Transformational Change in Environmental and Natural Resource Management. Earthscan, London.
Meeting 6 (Apr. 7), Groundwater Trading in Virginia
Meeting 5 (Mar. 2), DC’s Stormwater Retention Credit Trading Program
Meeting 4 (Feb. 3), Nutrient Trading in the Chesapeake Bay Watershed
Meeting 3 (Jan. 7), Case Studies of Water Markets in California
Background Reading – see reading for Dec. 9 session.
Meeting 2 (Dec. 9), Overview of Water Markets in California
- California’s Water Market, By the Numbers, Update 2012, Ellen Hanak and Elizabeth Stryjewski, PPIC
- NPR interview with MacKenzie Funk, Why Water Markets Might Work in California
- Reuters article about the 2009 Emergency Drought Water Bank
- Los Angeles Times article on 1991 bank, State Water Bank Fills Up Enough to Ride Out Year
- MWD web page describing Exchanges and Water Banking
- The Lower Yuba River Accord, from Controversy to Consensus
- Appeal Democrat article about increasing prices, Deal would bring $20M to Yuba County Water Agency
- Kern Water Bank Web page
Meeting 1 (Nov. 4), Scope and Background
Water demand and availability in the upper Potomac River basin
Washington metropolitan area regional agreements related to the Potomac River
State regulations related to upper Potomac River basin withdrawals
- Consumptive Use of Surface Water in the Potomac River Basin, in Code of Maryland Regulations Title 26 DEPARTMENT OF THE ENVIRONMENT, Subtitle 17 WATER MANAGEMENT, Chapter 07: 26.17.07.01, 26.17.07.02, 26.17.07.03, and 26.17.07.04
- Low-flow protections in Potomac River, in Code of Virginia, Title 62.1 Waters of the State, Ports, and Harbors, Chapter 3.1 State Water Control Law: § 62.1-44.15:5.02.
- Establishing applicable standards, limitations or other VWP permit conditions, in Virginia Administrative Code, 9VAC25-210-110
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