Legitimate Expectations - Lessons from Recent Energy Arbitration Cases on Renewable Energy Relationship of Fair and Equitable Treatment Standard to Indirect Expropriation.

Abstract

This article examines the concept of legitimate expectations pursuant to the Fair and Equitable Treatment Standard contained in numerous Bilateral Investment Treaties as well as the Energy Charter Treaty, with reference to the most recent 5 cases decided by arbitration tribunals who have looked at this issue in regard to renewable energy and the Energy Charter Treaty.

It also compares the concept of legitimate expectations and the fair and equitable treatment standard in comparison to indirect expropriation cases.

Keywords: Legitimate Expectations, Fair and Equitable Treatment Standard, Energy Charter Treaty, Indirect Expropriation Bilateral Investment Treaties

JEL Classification: K2, K20, K33, K4, M1, M16, M48, F02, F2, F23