ECT
The EU taxpayer is the main loser from the continuation of the Energy Charter Treaty which locks Europe into carbon and energy injustice at a high cost to taxpayers.
Una empresa estatal húngara se persona en los pleitos en Washington como aliada de los demandantes. Quiere mantener la jurisdicción del Banco Mundial frente al Tribunal de la UE.
More claims from energy companies in the coming months and years, as more states enact legislation aimed at reducing reliance on fossil fuels and change incentive programs for renewable energy providers.
The Russian side appealed that a number of provisions of the Energy Charter Treaty could not be applied to the Russian Federation because it did not ratify it.
The company building the controversial Nord Stream 2 gas pipeline from Russia to Germany under the Baltic Sea today sued the European Union over new gas rules it says are threatening its investments in the project.
The Energy Charter Treaty is a multilateral agreement that grants binding protection for foreign investors and includes also binding provisions for free trade and freedom of transit of energy materials and products.
The EU and its member states should collectively withdraw from the Energy Charter Treaty, which protects fossil fuel investments.
This claim to the long series of cases arising out of Italy’s reform of its scheme of incentive tariffs for solar energy.
German company Uniper has threatened to bring an ISDS case against the Dutch government after a decision to ban coal-based power generation by 2030.
The European Commission is taking steps to reduce the prospect of future claims by demanding the reform of the Energy Charter Treaty.
Critics say the Energy Charter provides excessive legal protection for oil and gas companies, which can claim uncapped reparations from governments who frustrate investments in fossil fuel projects.
The audit company claims its reports used in the lawsuits launched by companies controlled by Moldovan businessman Anatol Stati were based on “ knowingly false representations by Stati to KPMG”
These recent awards indicate that investors now have the upper hand in their ECT claims against EU states.
There is a lack of consensus among EU member states as to the applicability of the Achmea Ruling to the Energy Charter Treaty.
Spain will have to pay EUR 41 million to German solar investor SolEs Badajoz GmbH for retroactively cutting long-term premiums for renewable energy projects.
The Nord Stream 2 pipeline company has asked the Court of Justice of the EU to annul the amendments to the Gas Directive but Nord Stream 2 reserves itself this option of resorting to legal arbitration as well.
The European Commission and the Nord Stream 2 gas pipeline company are heading toward legal arbitration in their dispute, with a risk of huge fines for EU taxpayers.
EU member states gave the European Commission a mandate to revise the Energy Charter Treaty, saying the legally-binding charter must reinstate Europe’s “right to regulate” in areas like climate change and workers’ rights.
The European Commission adopted a proposal for a Council Decision authorising negotiations to modernise the Energy Charter Treaty (ECT), to which the EU is part.
Frozen assets securing a $532 million award against Republic of Kazakhstan.
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