UPDATE: THE SES has established two incident control centres this morning in case wild weather causes floods.
Flood and storm warnings were issued for Victoria by the weather bureau this morning, as wild weather started battering the state just a month after being hit by the worst floods in 15 years, the Herald Sun reports.
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The weather was not predicted to be as severe as the floods of early September that caused millions of dollars in damage to properties.
However, the State Emergency Service, along with other emergency services, had established two incident control centres at Bendigo in the north and Wangaratta in the north-east to prepare for flooding.
Minor flood warnings have already been issued for the Kiewa River, upper Murray River and Seven Creeks-Castle Creek in the north-east and Campaspe River further west.
Flood watches and severe weather warnings for damaging winds and flash flooding have been issued for areas all over the state, including Alpine areas, western, north central, northern country, Wimmera, central, west and South Gippsland, East Gippsland and northeast areas.
The rainy weather is forecast to continue until Monday.
"Most of the rain will come when it hits the mountains of the Great Dividing Range, which is a similar area to what was hit in September, but it will not be as severe," SES spokesman Lachlan Quick said.
"We're expecting 100mm of rain on top of the ranges and 75mm to 50mm as you go further down.
"The likelihood is that only one or two (the Upper Murray and Mitta Mitta River) systems may get major flooding.
"It is difficult to quantify what level the floods will be until the rain eases."
VicRoads has urged drivers to take care on slippery roads throughout Victoria, by slowing down in slippery conditions, using headlights and leaving a greater distance between their own car and the one in front.
They should also listen to local radio reports for information.
Heavy rain, strong and gusty winds moving across eastern Australia may also cause disruptions to flights today arriving at Melbourne, Canberra, Sydney, Brisbane and Gold Coast airports, Airservices Australia said.
The is also a gale warning for Port Phillip, and a strong wind warning for Western Port.
The weather bureau says Melbourne has already been close to the forecast top temperature for the day, and the mercury is expected to fall from here.
A shivery 16C was forecast, and although it was only 14C about 8am, it dropped to 11.9C about noon, it had been an almost balmy 18.3C just before 1am.
Organisers of the Caulfield Cup and Phillip Island's MotoGP are bracing for a return to wintry conditions but are still confident of pulling in thousands of enthusiastic spectators.
Gale force winds and heavy rain are forecast to lash the state today and tomorrow with temperatures plummeting to 10C in some parts.
Melbourne Racing Club chief executive officer Simon Gardner is hoping for a crowd of more than 40,000 and said punters shouldn't be deterred.
"We have the new carnival precinct with plenty of under-cover areas so people will still be able to enjoy their day," Mr Gardner said.
MotoGP organisers and the police have urged spectators to drive carefully in the deteriorating conditions.
Last year's race lured more than 105,000 fans and traffic on to the island was already causing delays yesterday.
MotoGP boss Andrew Westacott said organisers had been working closely with Victoria Police on Arrive Alive checkpoints to ensure drivers stayed alert.
Wind is expected to ease ahead of the main event on Sunday, but conditions will still be slippery and unpredictable for riders.
The threat of bad weather doesn't concern world champion Jorge Lorenzo.
"Obviously I would like to race on the dry, but you can't control the weather," he said yesterday.
"I'm not worried."
Read more on the Herald Sun.