In the ICSID arbitration commenced by Vattenfall against Germany as a result of Germany’s nuclear opt-out, the tribunal has been constituted in December 2012. Albert Jan van den Berg (Netherlands) is the Chairman, and the party-appointed arbitrators are Vaughan Lowe (England) and Daniel M. Price (United States).
Vattenfall, the Swedish energy group, have not only commenced, as reported before, investment treaty arbitration against the Federal Republic of Germany under the Energy Charter to pursue damages suffered as a result of Germany’s nuclear energy opt-out. In addition, Vattenfall has now joined the German nuclear operators in bringing a constitutional complaint (Verfassungsbeschwerde) and challenging the respective legislation before the Federal Constitutional Court (Bundesverfassungsgericht). Continue reading
“Don’t Mention the Atom!” – The Economist provides excellent background to the legal battles resulting from Germany’s opting out of nuclear power – including the Vattenfall ICSID arbitration covered earlier this month in the blog.
With Germany’s nuclear power phase-out being a cornerstone of goverment policy, the challenge by Swedish energy company Vattenfall is bringing the rather arcane subject of investor-state arbitration into the headlights of the national press: Based on the Energy Charter Treaty, Vattenfall is seeking compensation of losses that result from Vattenfall having to phase out its nuclear power plants in Germany. Allegedly, damages are in the billions.