Water trading in Spain
ABSTRACT: This chapter reviews Spanish water market regulation established in the Water Law Reform of 1999. It also provides an overlook of the type of exchanges that took place between 2004 and 2008, when market exchanges were more frequent. While exchanged amounts were not very significant in absolute terms, those that involved inter-basin transfers raised the most concerns and significance. The chapter describes in detail various market mechanisms used in different basins, including the exchanges that took place through Water Exchange Centres run by the basin agencies. All market inter-basin exchanges involved transfer of water from the Southern Castilian Plateau and from the headwaters of the Guadalquivir basin to the most arid areas in the Southeast of Spain (Murcia and Almería). The chapter summarizes the findings of two workshops devoted to discuss the market experiences, with water officers, market participants and scientists. A list of recommendations to reform water markets regulation and monitoring is offered in the concluding section.