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
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
https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB/07/19
http://globalarbitrationreview.com/news/article/14041/hungary-hit-ect-claim/ (requires subscription)
http://globalarbitrationreview.com/news/article/31036/ect-does-not-protect-investors-eu-law-tribunal-rules (requires subscription)
http://www.energycharter.org/what-we-do/dispute-settlement/investment-dispute-settlement-cases/18-electrabel-sa-belgium-v-republic-of-hungary/
http://www.iareporter.com/articles/in-new-award-arbitrators-explain-why-remaining-claims-in-electrabel-v-hungary-case-dont-breach-energy-charter-treaty/ (requires subscription)
http://www.transnational-dispute-management.com/downloads/14749-case_report_electrabel-v-hungary.pdf
http://globalarbitrationreview.com/news/article/14041/hungary-hit-ect-claim/ (requires subscription)
http://globalarbitrationreview.com/news/article/31036/ect-does-not-protect-investors-eu-law-tribunal-rules (requires subscription)
http://www.energycharter.org/what-we-do/dispute-settlement/investment-dispute-settlement-cases/18-electrabel-sa-belgium-v-republic-of-hungary/
http://www.iareporter.com/articles/in-new-award-arbitrators-explain-why-remaining-claims-in-electrabel-v-hungary-case-dont-breach-energy-charter-treaty/ (requires subscription)
http://www.transnational-dispute-management.com/downloads/14749-case_report_electrabel-v-hungary.pdf