Legitimate Expectations and Fair-and-Equitable-Treatment under the Energy Charter Treaty

Dr. Niclas Landmann

doi:10.5771/9783748930259

Summary

Die jüngste Welle von ISDS-Fällen im erneuerbare Energien Sektor hat zu einer Vielzahl von Schiedssprüchen geführt, die sich mit dem Begriff der legitimen Erwartungen befassen. Der Standard für faire und gleiche Behandlung (FET) und der legitimen Erwartungen waren in der Vergangenheit höchst unbestimmt. Diese Arbeit enthält eine umfassende Analyse der Schiedssprüche im erneuerbare Energien Sektor und deren Auslegung der legitimen Erwartungen. Der Autor analysiert, welche Aspekte in Bezug auf das Verhalten der Staaten, die Due Diligence der Investoren und die Intensität der staatlichen Eingriffe von den jüngsten Schiedsgerichten als Verletzung des FET-Standards angesehen wurden.

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Bibliographic data

Copyright year: 2022
Publication date: 10.01.2022
ISBN-Print: 978-3-8487-8654-1
ISBN-Online: 978-3-7489-3025-9
Publisher: Nomos, Baden-Baden
Series: Studien zum Internationalen Investitionsrecht
Volume: 41
Language: English
Pages: 370
Product type: Book Titles

Titelei/Inhaltsverzeichnis No access Pages 1 - 22
1. 1. 1) Arbitral Awards as a Legal Source No access
  2. 2) Precedent in International Investment Law No access
  3. 3) Method of Analysis No access
2. 1. 1) What are the Requirements for a Commitment by the State? No access
  2. 2) Can the Legal Framework Create Legitimate Expectations? No access
  3. 3) How much Due Diligence Must an Investor Apply? No access
3. III. The Impact of Regulatory Measures on the Renewable Energy Sector No access
1. I. Interpretation of Provisions Including the Fair and Equitable Treatment Standard No access
2. II. Fair and Equitable Treatment as an Overarching International Law Principle No access
3. 1. 1) The Ordinary Meaning of “Fair and Equitable” No access
  2. 2) Unjust and Arbitrary Treatment No access
  3. 3) Transparency and Predictability No access
  4. 4) Discrimination Against Foreign Investors No access
  5. 5) The Obligation of Treatment in Good Faith No access
  6. 6) Consistency and Legitimate Expectations No access
  7. 7) Addressees of the Fair and Equitable Treatment Obligation No access
  8. 8) The Basic Aspects of the Fair and Equitable Treatment Standard No access
4. IV. Legal Specifics under the Energy Charter Treaty No access
1. I. Purpose of the Legitimate Expectations: Balancing Legal Interests No access
2. II. Time for the Determination of Legitimate Expectations No access
3. 1. 1) Content of the Investors’ Legitimate Expectations No access
  2. 1. a) Representatives of the State in International Investment Law No access
    2. b) Contractual Agreements No access
    3. c) Unilateral Declarations and Specific Administrative Acts No access
    4. d) Informal and General Administrative Acts No access
    5. e) The Legal Regulatory Framework No access
  3. 3) The Due Diligence of the Investor No access
  4. 4) Foundations for the Analysis of Recent Jurisprudence No access
4. 1. 1. a) The EU’s Reformation Efforts No access
    2. b) Limitations to the States’ Sovereignty No access
    3. c) The States’ Margin of Discretion No access
  2. 1. a) Protection of Stability in Arbitral Jurisprudence No access
    2. b) The Tension between the Right to Regulate and Concept of Stability No access
  3. 1. a) The Origins of Proportionality in International Law No access
    2. b) The “Continental European” Approach to Proportionality No access
    3. c) Reasonableness and Proportionality No access
    4. d) The Importance of a Systematic Approach to the Balancing Issue No access
1. I. Historical Background No access
2. II. Technological Background No access
3. 1. 1. 1. (1) The Rise of the Special Regime No access
      2. (2) The Amendment of the Special Regime in 2010 No access
      3. (3) The Abrogation and the Replacement of the Special Regime in 2013 No access
    2. 1. (a) Charanne and Construction Investments S.a.r.l. v. Spain No access
        (b) Eiser Infrastructure Ltd and Energía Solar Luxembourg S.à.r.l. v. Spain No access
        (c) Novenergia II - Energy & Environment (SCA), SICAR v. Spain No access
        (d) Cavalum SGPS v. Spain No access
        (e) Masdar Solar & Wind Cooperatief U.A. v. Spain No access
        (f) Foresight v. Spain No access
        (g) Cube Infrastructure v. Spain No access
        (h) NextEra v. Spain No access
        (i) 9Ren Holding S.a.r.l v. Spain No access
        (j) SolEs Badajoz GmbH v. Spain No access
        (k) OperaFund v. Spain No access
        (l) Stadtwerke München v. Spain No access
        (m) BayWa r.e. v. Spain No access
        (n) RWE Innogy GmbH and RWE Innogy Aersa S.A.U. v. Spain No access
        (o) The PV Investors v. Spain No access
        (p) Hydro Energy 1 S.À R.L. and Hydroxana Sweden AB v. Spain No access
      2. (a) Antin Infrastructure Services and Antin Energia Termosolar v. Spain No access
        (b) RREEF Infrastructure (GP) Ltd et al v. Spain No access
        (c) InfraRed Environmental Infrastructure GP Limited and others v. Spain No access
        (d) Watkins Holdings S.à.r.l. and others v. Kingdom of Spain No access
        (e) STEAG GmbH v. Spain No access
        (f) Isolux Netherlands B.V. v. Spain No access
  2. 1. a) Disputed Measures No access
    2. 1. (1) Blusun SA, Jean-Pierre Lecorcier and Michael Stein v. Italy No access
      2. (2) Eskosol S.P.A. v. Italy No access
      3. (3) ESPF Beteiligungs GmbH et. al. v. Italy No access
      4. (4) Greentech Energy Systems A/S et. al. v Italy No access
      5. (5) CEF Energia B.V. v. Italy No access
      6. (6) SunReserve Holdings v. Italy No access
      7. (7) Belenergia S.A. v. Italy No access
  3. 1. a) Disputed Measures No access
    2. 1. (1) Antaris Solar GmbH and Dr. Michael Göde v. Czech Republic No access
      2. (2) Jürgen Wirtgen, Stefan Wirtgen, Gisela Wirtgen et. al. v Czech Republic No access
      3. (3) Voltaic Network, Knopf, I.C.W. Investments, WA Investment v. Czech Republic No access
4. 1. 1) Types of Commitments by the States No access
  2. 2) Limitations to the Investors’ Expectations No access
  3. 3) Key Considerations for the Forthcoming Analysis No access
1. 1. 1. 1. (1) Pre-Assignment Registry and RAIPRE No access
      2. (2) Ministerial Resolutions and Registration Letters No access
      3. (3) The GSE Conventions and the “Tariff Recognition Letters” No access
      4. (4) ERO Regulations No access
      5. (5) Legal Value of Registration Proceedings No access
    2. b) Informal Administrative Acts No access
    3. 1. (1) Administrative Acts and their Relation to the Legal Framework No access
      2. (2) Time of the Administrative Acts No access
      3. (3) Influence of the Formality of an Administrative Act No access
    4. d) Interim Conclusion on the Requirements for Administrative Acts No access
  2. 1. 1. (1) The Spanish “The sun can be yours” Campaign No access
      2. (2) Policy Plans Issued by the Host State No access
      3. (3) The CNE Reports & Statements No access
      4. (4) The ERO Reports and Presentations No access
      5. (5) Other Press Releases and Political Statements No access
      6. (6) Interim Conclusion on the Potential of General Representations to Create Legitimate Expectations No access
    2. 1. (1) Development during the Argentine Cases No access
      2. (2) Subsequent Development No access
      3. (3) Current State of Discussion No access
      4. (4) Interim Conclusion on the Legal Framework’s Status as Source of Legitimate Expectations in Arbitral Jurisprudence No access
  3. 3) Interim Conclusion on the Restrictions on the Right to Regulate No access
2. 1. 1. a) The Authority Conducting the Due Diligence No access
    2. b) Shared Due Diligence No access
    3. c) Proof of Due Diligence No access
  2. 1. a) Sources to Take into Consideration No access
    2. b) Clarity of the Legal Framework No access
    3. c) Relevance of Domestic Case Law No access
  3. 1. a) Socio-Economic Environment No access
    2. b) Previous Development of the Regulatory Framework No access
    3. c) The Phenomenon of the Hindsight-Bias No access
  4. 4) Requirements for the Investor’s Due Diligence No access
3. 1. 1. a) The Link between the State’s Actions and the Public Interest No access
    2. b) Economic Reasonableness of the State Acts No access
    3. c) Proportionality between the State’s Acts and the Investor’s Rights No access
    4. d) Development towards a Stronger Role of the Proportionality Test No access
  2. 2) Predictability and Retroactive Effect of the Measures No access
  3. 1. a) Fundamental Change as a Threshold for the Violation of Basic Expectations No access
    2. 1. (1) The 2010 Amendments Were within the State’s Margin of discretion No access
      2. (2) Why did the 2013 Regime Constitute Radical Changes? No access
    3. 1. (1) The Spanish Promise of a “Reasonable Return” No access
      2. (2) The Italian Incentive Reduction No access
      3. (3) The Preservation of a Reasonable Return by the Czech Republic No access
  4. 4) Interim Conclusion on the Host State’s Margin of Discretion No access
4. IV. Summary of Recent Jurisprudence No access
1. I. Specificity of the States’ Commitments No access
2. 1. 1) State Efforts to Protect Regulatory Flexibility No access
  2. 2) Appraisal of the Prevailing View in Arbitral Jurisprudence No access
  3. 3) Why the States’ Right to Regulate is Not Unduly Restricted No access
  4. 4) The Special Role of the Legal Framework Applying to the Public Utility Sector No access
3. III. Due Diligence Requirement under International Investment Law No access
1. I. Fair and Equitable Treatment as a “Black Box”? No access
2. II. Future Challenges in the Application of the Fair and Equitable Treatment Standard No access
1. Literature No access
2. Arbitral Awards No access
3. Court Judgments No access

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