On 28 November 2019, the International Chamber of Commerce Task Force on Arbitration of Climate Change Related Disputes released their Report on Resolving Climate Change Related Disputes through Arbitration and ADR (“ICC Report“). The 66-page ICC Report explores existing and anticipated climate change-related disputes and the benefits of using arbitration to resolve these. Over the last five years, major arbitral institutions have witnessed a steady increase in disputes involving climate change issues. Typically, these have been intrinsically linked to the energy transition away from traditional energy sources such as fossil fuels and coal to increased investments in... Read more
Craig Tevendale, Head of the Herbert Smith Freehills International Arbitration Group in London and UK Head of Energy, has produced a video with Thomson Reuters, exploring trends in liquified natural gas (LNG) disputes. The full video can be found here. In the video, Craig considers trends in the LNG market in light of increasing demand for … Read more
On 21 November 2019, after two years of deliberations, Ofgem published its decision on the Targeted Charging Review ("TCR"). Ofgem's decision has resulted in two distinct changes to the charging role of networks... Read more
With the launch of the 2019 Labour Party Manifesto, energy sector nationalisation plans were further extended to also include the customer facing energy supply businesses of the Big Six. Together, these proposals amount to a fundamental and complex restructuring of the UK energy industry which risks years of uncertainty for market participants and... Read more
Now in its eleventh edition, the European Energy Handbook 2019 - 2020 provides an in-depth survey of current issues in the energy sector in 42 European jurisdictions.
This year's edition focuses on recent legal and commercial developments in each jurisdiction, and covers issues such as the Energy Union, the adoption of the latest package of EU energy legislation, and the 'Clean Energy for All Europeans' bundle of directives and regulations updating the EU's energy policy framework to facilitate the decarbonisation of the sector and the transition towards cleaner energy. Climate change, the energy transition and associated challenges are...
Following on from the four reverse auctions held between 2012 to 2016, the ACT Government has announced a new renewable energy reverse auction (the Reverse Auction) to “safeguard the delivery of sourcing 100% renewable electricity by 2020 from within the ACT or across the National Electricity Market”.
On 8 November 2019, the Minister for Climate Change (the Minister) determined that...
The Federal Government re-introduced its much-criticised ‘big stick’ energy laws this month after having abandoned the first iteration of the bill in December 2018. On 19 September the Government introduced the Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019 into the House of Representatives. The Bill introduces sector specific misconduct provisions into the Competition and Consumer Act for certain retail pricing, financial contracting and wholesale bidding conduct by electricity generators and retailers. The Bill also introduces radical remedies for contraventions of these provisions ... Read more
On 29 June 2019, Industry Super Australia (ISA) released its Modernising Electricity Sectors Discussion Paper (the Paper) which seeks to assist super funds in understanding and navigating the regulatory uncertainty in investing in the Australian electricity sector. More specifically, it aims “to provide decision-makers and other long-term investors with a framework for thinking through lumpy investment decisions” in the electricity sector. The release of this Paper is particularly timely given that, in June of this year, IFM Investors and ... Read more
In a 2019 global survey, 1,250 CEOs rated environmental / climate change risk the single biggest threat to business growth.
The race is on for businesses to understand their environmental impact and to manage the legal risks to succeed in a lower-carbon future. Our report, which gathers insights from our global experts, considers the political, regulatory and commercial pressures arising from climate change, looks at the steps for ensuring that risk management practices measure up to the climate change challenge, and examines the benefits for businesses in all sectors that lead the transformation and innovate toward ...