(a) Trade in Energy Materials and Products and Energy-Related Equipment between Contracting Parties at least one of which is not a member of the WTO shall be governed, subject to subparagraph (b) and to the exceptions and rules provided for in Annex W, by the provisions of the WTO Agreement, as applied and practised with regard to Energy Materials and Products and Energy-Related Equipment by members of the WTO among themselves, as if all Contracting Parties were members of the WTO.

(b) Such trade of a Contracting Party which is a state that was a constituent part of the former Union of Soviet Socialist Republics may instead be governed, subject to the provisions of Annex TFU, by an agreement between two or more such states, until 1 December 1999 or the admission of that Contracting Party to the WTO, whichever is the earlier.

UNDERSTANDING with respect to Article 29(2)(a) and Annex W

Notwithstanding the listing of paragraph 6 of article XXIV of the GATT 1994 in Annex W (A)(1)(a)(i), any signatory affected by an increase in customs duties or other charges of any kind imposed on or in connection with importation or exportation referred to in the first sentence of that paragraph, is entitled to seek consultations in the Charter Conference.

UNDERSTANDING with respect to Article 29(2)(a)

(a) Where a provision of [WTO]¹ referred to in this paragraph provides for joint action by [Members of the WTO]², it is intended that the Charter Conference take such action.³

¹Editor's note: original "GATT 1947 or a Related Instrument", adapted by editors.

²Editor's note: original "parties to the GATT", adapted by editors.

³Editor's note: part (b) of the Understanding became irrelevant following the entry into force of the Amendment to the Trade-Realted Provisions of the Energy Charter Treaty.

On sait depuis longtemps que travailler avec du texte lisible et contenant du sens est source de distractions, et empêche de se concentrer sur la mise en page elle-même. L'avantage du Lorem Ipsum sur un texte générique comme 'Du texte. Du texte. Du texte.' est qu'il possède une distribution de lettres plus ou moins normale, et en tout cas comparable avec celle du français standard. De nombreuses suites logicielles de mise en page ou éditeurs de sites Web ont fait du Lorem Ipsum leur faux texte par défaut, et une recherche pour 'Lorem Ipsum' vous conduira vers de nombreux sites qui n'en sont encore qu'à leur phase de construction. Plusieurs versions sont apparues avec le temps, parfois par accident, souvent intentionnellement (histoire d'y rajouter de petits clins d'oeil, voire des phrases embarassantes).

RENERGY S.à.r.l. v. Spain, ICSID Case No. ARB/14/18

>Subject matter of the dispute: Legal reforms affecting the renewable energy sector
>Amount claimed: EUR 141 million
>Amount awarded: EUR 32,896,240
>Valuation method: income-based approach (discounted cash flow)
>Interest rate: host State's sovereign bonds (10-year)
>Costs of arbitration: USD 1,801,865.44
>Award legal costs: Each party bears its own legal costs
>Award costs of arbitration: Parties share costs equally

ARBITRAL DECISIONS

5 June 2022

22 April 2022

Dissent on Liability and Quantum, Professor Philippe Sands QC