PUA Annual Conference The Energy Charter Jerusalem 30 November 2015 Ernesto Bonafé Regulatory...
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Transcript of PUA Annual Conference The Energy Charter Jerusalem 30 November 2015 Ernesto Bonafé Regulatory...
![Page 1: PUA Annual Conference The Energy Charter Jerusalem 30 November 2015 Ernesto Bonafé Regulatory expert Energy Charter Secretariat.](https://reader036.fdocuments.net/reader036/viewer/2022070415/5697c02c1a28abf838cd94cf/html5/thumbnails/1.jpg)
PUA Annual Conference
The Energy Charter
Jerusalem30 November 2015
Ernesto BonaféRegulatory expert
Energy Charter Secretariat
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Outline
•1991 European Energy Charter
•1994 Energy Charter Treaty
•2015 International Energy Charter
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1991 European Energy Charter (1)
•End of Cold War
•East – West energy cooperation
•Political declaration
•Observer countries
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1991 European Energy Charter (2)
•Open markets and participation of private sector
•Non-discrimination and transparency
•Energy consuming, producing and transit countries
•Developed and developing countries
•Legal agreement
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1994 Energy Charter Treaty (1)
• Energy ecurity, open markets, sustainability
• Intergubernamental and multilateral
• Long-term stability and predictability
• Reduction of non-commercial risks
• Enhance level playing field and rule of law
• Full members or contracting parties
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1994 Energy Charter Treaty (2)
• Investment
• Trade and Transit
• Energy efficiency
• Soft law provisions
• Dispute settlement / Amicable solutions
• National sovereignty
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Investment
Investor – natural or legal person from contracting party
Every kind of asset related to economic activity in energy
Fair and equitable treatment
Non-discrimination
National treatment
Protection against unlawful expropriation
•In/tangible, im/movable, property rights•A company or business, shares, equity, debt•Claims to money, contract having economic value•Intellectual property•Returns•Rights conferred by law or contract
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National sovereignty
• Development of natural resources
• Energy mix
• Liberalisation
• Industrial restructuring
• Environmental regulation
• Taxation
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Institutions
• Energy Charter Conference
• Energy Charter Secretariat
• Working Groups
• Industrial Advisory Panel
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ECT content - sources
•Investment chapter BITS, NAFTA
•EU internal energy market
•GATT/ WTO
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2015 International Energy Charter
•The Hague Ministerial Conference 20/21 May 2015,
•Same universal principles for new challenges
•New observer countries from all continents
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Why the long-term is important?
• Climate change and decarbonisation
• Energy security
• Liberalisation and competition
• Regional markets
• Energy access
• Building trust in global, regional and national markets