For the first time in this drought-stricken century, a new price for water in the West has been set – and it’s 25 times higher than what farmers have paid for the last 75 years.

Arizona, Nevada and California recently agreed to reduce their water consumption from the Colorado River by 13% through 2026. The federal government will pay their irrigation districts, Native American tribes and cities $521 for each acre-foot of water they don’t use.