This book contributes to a new paradigm shift towards sustaining the Energy Charter Treaty, which remains the key instrument on global energy governance and foreign investment. The book detangles the misunderstandings produced by Achmea and Micula, drawing upon the consequences of international energy investments in the EU. The author demonstrates a clear solution where ECT tribunals respect the autonomy of EU law, while resolving intra-EU energy disputes. She achieves this by presenting for the first time comprehensive scholarly, jurisprudential and empirical findings proving that EU Law operates a functional role in analysing breaches of investment treaty protection. If applied effectively, this new approach can produce valid and enforceable intra-EU arbitration awards.At a time when the ECT is being modernised, the conceptual standpoints presented offer a problem-solving approach to assist the arbitrator, academic, policymaker and legal practitioner in understanding both the present and the future of EU energy investments.The book focuses on the low-carbon power sector, including electricity, nuclear and renewable energy disputes. The arguments advanced can be transplanted to other economic sectors and regional investment blocks, including CETA, EU-Singapore, EU-Mercosur, EU-Mexico and the EU-Australia Trade Agreements.
Gloria M Alvarez is Lecturer in International Energy Arbitration at the University of Aberdeen.
Interim Table of Contents IntroductionI. The Argument II. Why it Matters?III. Approach, Terminology and MethodologyIV. Scope and Outline Part I: The PastChapter One - Context I. Historical Development of Energy Investments in EuropeII. The Emergence of EU Energy LawIII. Defining an EU Energy InvestmentIV. Tracing the Problem Part II: The Present Chapter Two – Introducing the Energy Charter Treaty into the SceneI. SubjectsII. ContentIII. Generational Blocks Chapter Three – EU Law in Investment Arbitration: Demystifying the Conflict, Explaining the Tension I. Teasing Out the Intra-EU ECT Arbitration Process II. Tension or Conflict?Chapter Four – Limitation and Effects of the Interpretative ApproachesI. Protecting Policies and ValuesII. Approaches III. Limitations IV. Effects V. Suitability and Efficiency of a Desired Approach Part III: The FutureChapter Five – Investigating EU Law to Serve Intra-EU ECT DisputesI. New Problem, New Solution: Modern Legal Theory for the ECT in the EU II. The Functions of EU Law in Energy InvestmentsChapter Six – The New ECT and the Future of EU Energy InvestmentsI. Modernization ProcessII. ISDS and the Multilateral Investment CourtIII. Energy Transition and Net Zero IV. Innovation and Social Justice V. The UK, Switzerland, Hong Kong and ElsewhereVI. Energy Investments in Europe after the PandemicVII. The EU Mining in Space Conclusions