2010
TECO v. Guatemala TECO Guatemala Holdings, LLC v. Republic of Guatemala (ICSID Case No. ARB/10/23)
Guatemala
United States of America
Shareholding in Empresa Eléctrica de Guatemala, a local electricity distribution company that held rights under certain authorization agreement for distribution of electricity in the departments of Guatemala, Sacatepéquez and Escuintla, for a period of 50 years.
Claims arising out of Guatemala’s electricity regulator decision to set tariffs for the electricity company in which the claimant had an investment based on an independently commissioned technical study rather than on a study commissioned by the electricity company, during the process of review and pricing of electricity distribution tariffs for the five-year period 2008-2013.
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)
Mourre, A.
Park, W. W.
von Wobeser, C.
Oreamuno Blanco, R. (replaced)
Decided in favour of investor
243.60 mln USD
21.10 mln USD
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
ICSID annulment proceedings
ICSID resubmission proceedings
ICSID annulment proceedings
Award/decision partially annulled
Hanotiau, B. (President)

Oyekunle, T. (Member)

Sachs, K. (Member)
ICSID resubmission proceedings
Decided in favour of the investor
https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB/10/23
http://globalarbitrationreview.com/news/article/32130/guatemala-held-liable-dr-cafta-breach/ (requires subscription)
https://books.google.ch/books?id=RbQq8dQtsQ0C&pg=PA329&lpg=PA329&dq=TECO+Guatemala+Holdings,+LLC+v.+Republic+of+Guatemala+%28ICSID+Case+No.+ARB/10/23%29&source=bl&ots=8q3ugrYzN9&sig=vOO3oOC5NWjXcRfCVi2sjdGiMyU&hl=en&sa=X&ei=ClP4VIU3hcg8hOiA4A0&ved=0CEMQ6AEwCA#v=onepage&q=TECO%20Guatemala%20Holdings%2C%20LLC%20v.%20Republic%20of%20Guatemala%20(ICSID%20Case%20No.%20ARB%2F10%2F23)&f=false
https://www.transnational-dispute-management.com/downloads/16253_case_report_teco_v_guatemala.pdf
http://globalarbitrationreview.com/article/1035438/award-against-guatemala-is-largely-upheld-but-tribunals-reasoning-criticised (requires subscription)
http://www.iareporter.com/articles/icsid-ad-hoc-committee-finds-fault-with-cafta-tribunals-approach-to-damages-in-guatemala-case-anulling-several-damages-and-costs-holdings/ (requires subscription)
http://globalarbitrationreview.com/article/1069005/power-company-drags-guatemala-back-to-icsid (requires subscription)
https://www.iareporter.com/articles/new-faces-will-hear-resubmitted-claim-for-higher-damages-in-teco-v-guatemala-case-with-vaughan-lowe-now-in-the-chair/ (requires subscription)
https://www.iareporter.com/articles/analysis-resubmission-tribunal-in-teco-v-guatemala-muses-on-questions-of-res-judicata-and-grants-additional-compensation-for-decreased-electricity-prices-but-arbitrators-disagree-on-further-damages/ (requires subscription)
https://globalarbitrationreview.com/guatemala-held-liable-in-resubmitted-icsid-claim (requires subscription)
https://www.transnational-dispute-management.com/downloads/24654_Case_Report_TECO_v_Guatemala_Award_2020.pdf