Investment arbitration in the energy sector: In what circumstances is an investor entitled to compensation under the Fair and Equitable Treatment standard of protection in the Energy Charter Treaty as a result of the exercise by the states of the right to regulate to detriment of investors? A special analysis on photovoltaic arbitration cases in Italy, Spain and the Czech Republic.
Arbitraje de inversión en el sector energético: ¿En qué circunstancias un Inversor tiene derecho a recibir una compensación en el marco de la provisión de Tratamiento Justo y Equitativo del Tratado de la Carta de Energía como consecuencia del ejercicio del Estado de su derecho regulatorio en detrimento de los inversores? Análisis de casos de arbitraje de inversiones en el sector fotovoltaico en Italia, España y República Checa.
Arbitragem de investimento no setor energético: Em que circunstâncias um investidor tem o direito de ser compensado no âmbito do tratamento justo e equitativo previsto no Tratado da Carta de Energia, em consequência do exercício do Estado do seu direito regulamentar em detrimento dos investidores? Análise de casos de arbitragem de investidores no setor fotovoltaico em Itália, Espanha e República Checa.
| 2021 | |
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Tratamiento Justo y Equitativo Expectativas Legítimas Arbitraje de Inversiones Tratado sobre la Carta de Energía Cambios Regulatorios Fair and Equitable Treatment Legitimate Expectations Investment Arbitration Energy Charter Treaty Regulatory Changes Tratamento Justo e Equitativo Expectativas Legítimas Arbitragem de Investimentos Tratado sobre a Carta de Energia Mudanças Regulatórias |
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| Español | |
| Universidad de Montevideo | |
| REDUM | |
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http://revistas.um.edu.uy/index.php/revistaderecho/article/view/812
https://hdl.handle.net/20.500.12806/1769 |
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| Acceso abierto | |
| Atribución 4.0 Internacional |
| Sumario: | A significant development in the renewable energy field has happened in several countries like Italy, Spain and the Chez Republic over the last years mainly due to the state´s support for renewable energy projects. However, because of the financial crisis, these countries decided to review and change the policies. As a result of the changes implemented renewable investors were affected in some manner. Consequently, many arbitrations claim against these states have been brought under the Energy Charter Treaty. The present Chapter analyses this jurisprudence. Based on the results of these arbitrations the lack of consistency results evident. Different interpretations around the Fair and Equitable Treatment standard and how to find a balance between the need for a stable and predictable investment framework and the sovereign right to regulate are the principal cause of diverse decisions. The concept of the standard in the treaty is reviewed and compared with the evolution of the concept in other investment agreements. In conclusion, possible amendments to increase consistency in the arbitrations under the Energy Charter Treaty will be proposed. |
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