Combine the water, white wine, lemon juice, onion, celery, garlic, peppercorns, thyme, and bay leaf in a 3-quart saucier, and bring to a boil over high heat. Reduce the heat and simmer for 8 minutes.
Use chunky, or strain through a fine-mesh sieve and either refrigerate for up to 3 days or freeze for up to 2 months. Bring to a boil before reusing.