This dissertation was written as part of the LLM in Transnational and European
Commercial Law, Banking Law, Arbitration/Mediation at the International Hellenic
University.
With renewable energy being an overly important sector of today's economy, disputes
arising out of it are inevitable. During the past few years a substantial body of case law
has been formed from arbitral tribunals applying the Energy Charter Treaty on such
investment disputes within the territory of the European Union.
A review of this case law showcases important aspects of international investment law
and its arbitrability within the European Union. Firstly, the most contemporary issue of
international investment law arises, namely the conflict between legitimate
expectations of investors with regards to the treatment of their investments by host
States and the right of States to regulate without being bound by their previous
behavior towards investors. Consequently, an extremely significant issue in the context
of the European Union also derives from arbitrating such investment disputes, that is
the ability of an arbitral tribunal to interpret and apply European law and ultimately
the tribunal’s jurisdiction for resolving investment disputes between Member States;
the Achmea Judgment of the CJEU had already provided some insight on this matter
and was recently followed by the Komstroy Judgment that provided more answers
from an EU Law perspective.
The effect both above decisions of the CJEU may have on the applicability of the
Energy Charter Treaty in intra-EU Investment Arbitration in practice remains to be
seen. This dissertation thus aims to the extensive review of the aforementioned case
law and the respective analysis of the relevant, mainly EU-related, issues it has
created.
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