Study finds major increase in surface water costs during drought 

A new study from UC Davis found that surface water costs triple during periods of drought.

The study found that drought causes the price of surface water to rise to $487 per acre-foot, which is more than triple the cost during an average wet year.

Driving the news: Researchers studied water transaction data ranging from 2010 to 2022, spanning both drought and wet years in California. • Groundwater prices remained stable during that period, while surface water prices were volatile, reflecting the precipitation of the year. • Specifically, the study revealed that a 50-inch decrease in annual precipitation increases the price by nearly $500 per acre-foot.

Go deeper: The study found that California groundwater basins can store eight to 12 times more water than every reservoir in the sta