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.
EU plans to extend its internal energy market rules to Russia’s Nord Stream 2 natural gas link to Germany could breach the Energy Charter Treaty, which protects international investors, according to the Swiss-registered company building it.
EVN and Bulgaria reached an out-of-court settlement, under which part of the claims regarding the remuneration obligations for renewable energy were offset between a Bulgarian EVN subsidiary and the Bulgarian state-owned National Electricity Company.
A Berlin court has ordered former shareholders of Hally’s Parsons Green, linked to now defunct oil company Yukos, to compensate Russia its legal costs to the tune of 188,000 euros.
The ICSID ruled against Spain in a case brought by NextEra Energy Inc regarding the US utility’s lost investments in two 49.9-MW concentrated solar power plants.
The ongoing Rockhopper case may become a benchmark for future cases on the horizon, following Italy’s decision to crack down on hydrocarbon explorations and extractions.
Arbitration proceedings which the Hungarian energy group MOL has launched against Croatia before the ICSID in Washington are still ongoing and a ruling is pending, and Croatia has contested the jurisdiction of the arbitration tribunal.
It would be a brave person who would gamble on the CJEU not extending its Achmea reasoning to the ECT. Perhaps the time for obituaries is not yet nigh, but the headstone is already being carved.
22 of the 28 EU nations have committed to terminate their bilateral investment treaties and use their influence as home states and respondent-states to notify tribunals of the non-arbitrability of intra-EU bilateral investment treaties and Energy Charter Treaty claims.
Tribunals still grappling with the intra-EU question, especially those in ECT cases, are certain to pay great attention to the carefully crafted Vattenfall decision. Its reasoning may well serve as a blueprint for further decisions and awards in similar cases.
The net award for Athena Investments amounts to approx. EUR 11M.
The Romanian government has won a trial at World Bank’s International Centre for Settlement of Investment Disputes against the Swiss-based energy trader Alpiq in a case related to Hidroelectrica insolvency procedure.
The documents highlight for the first time the pressure placed on the French parliament by a foreign company’s threat to use the ISDS mechanism.
A US arbitration court has rejected a German government petition that said the panel had no right to rule on a damages claim by Sweden’s Vattenfall. Berlin cited a ruling by the Court of Justice of the European Union.
The proposed instrument is of little benefit to states on either account and it is overly intrusive into government administrative processes.
Drafted by the Energy Charter Secretariat
An obscure agreement – the Energy Charter Treaty – allows energy firms to sue countries who take action to stop climate breakdown.
An arbitration tribunal found that Spain’s electricity reforms breached its obligation to accord to the investor fair and equitable treatment under the Energy Charter Treaty