The Energy Charter Treaty (ECT) is a multi-nation investment treaty which protects investors from the nationalization of assets and other arbitrary and discriminatory state conduct made at the expense of investments in the...more
The Energy Charter Treaty and the Protocol were signed in December 1994 to promote international investment in the energy sector. On 16 April 2024, Spain gave written notice of its decision to withdraw from the ECT and on 14...more
On 22 February 2024, the UK government confirmed the UK’s withdrawal from the Energy Charter Treaty (ECT), blaming a failure of efforts to modernise the treaty and align it with net zero aims. The UK joins nine EU member...more
On 22 February 2024, the Government of the United Kingdom (UK) announced that the UK would withdraw from the Energy Charter Treaty (ECT) after a recent failed attempt to modernise its text....more
The tribunal in Green Power v. Kingdom of Spain declined jurisdiction, finding that the parties had not validly consented to arbitration under the Energy Charter Treaty. A tribunal seated in Sweden has become the first...more
On June 24, 2022, the Contracting Parties to the Energy Charter Treaty (“ECT” or “Treaty”) reached an Agreement in Principle on the Modernization of the ECT (“Modernization Agreement”). Once approved at the Energy Charter...more
In a judgment handed down on 2 September 2021,1 the European Court of Justice (“ECJ”) finally ruled that the investor-state arbitration clause, at Article 26 of the Energy Charter Treaty (“ECT”), does not apply to intra-EU...more
The last few weeks have seen a raft of new investor-state arbitrations under the Energy Charter Treaty (ECT), including the first known investor-state claim against the European Union (EU) itself. These claims largely arise...more
International investment arbitration – also known as investment treaty arbitration or investor-State arbitration – is a procedure whereby foreign investors may seek a binding adjudication of claims against host States that...more
In a judgment handed down on 20 April 2016, The Hague District Court set aside the awards in three arbitrations rendered against the Russian Federation in investment treaty cases brought by former shareholders in Yukos....more
The District Court of the Hague overturned a record $50 billion in damages awards issued by the Permanent Court of Arbitration (“PCA”), to the former controlling shareholders of the Yukos Oil Company on the grounds that...more
In recent years, project developers, investment funds, and energy companies have invested heavily in renewable energy as a result of incentive programs offered in the legislation of countries such as Germany, Spain, and...more