Acceso usuarios
Verona, Italia
Between2013 and 2014, the Italian government introduced a number of legislative changes to the photovoltaic industry regulation in order to reduce the costs related to green energy incentives. These legislative changes impacted on the framework relied upon by international investors in making their investments in the Italian photovoltaic industry and generated great uncertainty about the regulation of the sector. Consequently, a number of foreign investors resorted to international arbitration arguing the violation of standards of protection of foreign investment granted under the Energy Charter Treaty ('ECT'), ratified by the Italian Republic on December 1997. and claiming damages against the Italian State.This paper aims to discuss the measures adopted by the Italian State in the energy sector in light of the ECT and offer a view of the most relevant substantial and jurisdictional issues emerging in relation to its application as well as to analyze the consequences that the ongoing investment proceedings might bring about in terms of interaction between EU law and international law.
