The Index is the first of its kind that seeks to track the spot rate price of water in the state of California.
The Index value is priced in U.S. Dollar per acre-foot ($/AF) at the source, excluding conveyance costs and losses, and is calculated and disseminated once per week after the close of business on Wednesday, representative of all data through the end of the prior week.
The Index represents the volume-weighted average of prices and shows the current pricing level for water in California determined by water entitlement transactions from five water markets:
5.Mojave Basin – Alto Subarea
The Index value reflects changes in the relative scarcity of water in California.