Organisation: European Commission
European Commission explains plan for ECT withdrawal
The European Commission has been explaining its plan for EU member states’ “coordinated withdrawal” from the Energy Charter Treaty ahead of a vote on the issue by the European Parliament.
28 March 2024
ICSID panel orders Romania to pay European solar investors
A split ICSID tribunal has reportedly ordered Romania to pay a group of European solar investors more than €46 million in an Energy Charter Treaty claim over the state’s cuts to its renewable energy incentive scheme.
20 March 2024
CJEU says UK infringed EU law by enforcing Micula award
The Court of Justice of the European Union has ruled that the UK infringed EU law by allowing Sweden’s Micula brothers to enforce a €178 million ICSID award against Romania.
14 March 2024
Mexico and Hungary hit with new ICSID claims
A Saudi-owned Spanish renewables investor has filed a BIT claim against Mexico, while Hungary is facing an Energy Charter Treaty claim brought by a Cypriot entity linked to a defunct Austrian bank.
14 March 2024
EU Council approves withdrawal from ECT
The Council of the European Union has approved a proposal to withdraw the EU from the controversial Energy Charter Treaty – as the treaty’s depositary Portugal becomes the latest member state to confirm its date of exit.
08 March 2024
EU Commission urges member states not to block ECT reform
As Slovenia’s date of exit from the Energy Charter Treaty is confirmed, the European Commission has urged EU member states not to block the adoption of a modernised version of the ECT even as they consider a coordinated withdrawal from the existing treaty.
04 March 2024
UK oil company instructs counsel for claim against Ireland
A London-listed oil and gas company has instructed counsel as it prepares to file the first known investment treaty claim against Ireland, for which it is also seeking third-party funding.
26 February 2024
Slovenia denied security in fracking case
An ICSID tribunal has declined to order a UK company to post security for costs in a €656.5 million claim over Slovenia’s blanket ban on fracking for natural gas.
23 February 2024
UK latest to leave ECT
The UK has confirmed it will withdraw from the Energy Charter Treaty, citing the failure of efforts to align it with climate change goals.
22 February 2024
Spain avoids damages in ECT case
A split ICSID tribunal has rejected a Swiss investor’s €175 million damages claim against Spain after concluding that the state’s reforms to its renewable energy regime resulted in only a limited breach of the Energy Charter Treaty.
22 February 2024