An anonymous National Party MP reported her for a conflict of interest to the Speaker of the House before she tabled a petition calling for a transparent water registry and royal commission.

She says the debate must have "rocked the establishment" as retribution was swift, with the report to the Ethics Committee coming soon after.

Speaker Jonathon O'Dea told Parliament on Thursday he would make a ruling by the end of this week after the Nationals MP raised concerns that Mrs Dalton may have breached Parliament's code of conduct.

In a public interest debate in Parliament on October last year, she argued for farmers' allocations to increase from zero to 40 per cent.

In a letter to the speaker, the anonymous MP says this increase would generate almost $1 million for Mrs Dalton, based on water market prices.

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But Mrs Dalton says if the allocation was to increase, the price of water would drop - a problem for water traders, but good news for farmers.

"They are arguing I am going to make money out of this - but the price [of water] would drop," she explained.

"For some that would be a problem if they are trading water, but it'd be a good thing for farmers to buy water to actually farm."

The only MP to have declared her water ownership, she claims the National Party is trying to sideline her.

In November, she declared close to $17 million in water ownership on her pecuniary interest register. Her ownership includes 1383 megalitres of high security water and 3324 megalitres of general security water in the Murrumbidgee Valley, and some in the Murray Valley as well.

"Who are the Nats representing? Certainly not irrigation farmers in the south on the regulated system.

"It shows they have little understanding they have of the whole irrigation system."

While not worried "at all" about the decision later this week, she says she "is trying to take it all lightly", as evidenced by the following post on her social media accounts:

She says this move is a "ploy" to shut her down.

"You are a faceless politician, come out and show yourself. If you think you have grounds, come out and tell me who you are," she demanded.

"It's a cowardly way to behave. I don't think I have anything to defend, and people who understand water know that."

When asked what she would do if she was to be found in conflict, she said she hadn't thought that far ahead as she believed it would come to nothing.

"I think everyone in my electorate would be totally up in arms about it," she said.

"I do believe in people power. I think the speaker will see it for what it is."