2007
Electrabel v. Hungary Electrabel S.A. v. The Republic of Hungary (ICSID Case No. ARB/07/19)
Hungary
Belgium
Rights under a power purchase agreement concluded between Electrabel’s subsidiary Dunamenti Eromu (the owner-operator of a power plant near Budapest) and the State-owned electricity wholesaler MVM.
Claims arising out of Hungary's termination of a power purchase agreement concluded with the investor, allegedly as part of the State's program for liberalizing its electricity market to comply with EU laws on State aid.
Tertiary: D - Electricity, gas, steam and air conditioning supply
35 - Electricity, gas, steam and air conditioning supply
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Veeder, V. V.
Kaufmann-Kohler, G.
Stern, B.
Decided in favour of State
147000.00 mln HUF (679.70 mln USD)
Data not available
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage
None