2014
Alpiq v. Romania Alpiq AG v. Romania (ICSID Case No. ARB/14/28)
Romania
Switzerland
Rights under two electricity generation and distribution contracts concluded between claimant's local subsidiaries and a Romanian State-owned entity.
Claims arising out of the Government's cancellation of two long-term energy delivery contracts concluded between claimant's local subsidiaries, Alpiq RomIndustries and Alpiq RomEnergie, and Romania’s state-owned electricity utility Hidroelectrica, after the latter was declared insolvent.
Tertiary: D - Electricity, gas, steam and air conditioning supply
35 - Electricity, gas, steam and air conditioning supply
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Sachs, K.
Clodfelter, M. A.
Silva Romero, E.
Decided in favour of State
Award dated 9 November 2018
450.00 mln USD
Data not available
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
None - all claims dismissed at the merits stage
ICSID annulment proceedings
ICSID annulment proceedings
Award/decision upheld
Decision on Annulment dated 11 August 2023
Landau, T. (President)

Boo, L. (Member)

Wallgren-Lindholm, C. (Member)