News

World news Bookmark and Share

10.10.2016 10:27
Vattenfall vs. Germany International Arbitration Hearing to Be Streamed Online
In 2014 the Swedish company said it saw the arbitration procedings as the only way to obtain compensation for loss of revenue
AUTHOR: publics.bg


  • © Vattenfall

The hearing on Vattenfall's claim against the Federal Republic of Germany at the International Centre for Settlement of Investment Disputes, ICSID, in Washington, is to start on Monday at 10:00 am local time and will be streamed via this link. The hearing will end on Friday 21 October. On Saturday 15 October and Sunday 16 October, no hearings will take place.

Shortly after the Fukushima nuclear incident in Japan on 11 March 2011, Germany decided to phase out all its nuclear power plants by 2022. The decision led to the immediate closure of Vattenfall's power plants at Krümmel and Brunsbüttel.

In 2014 the Swedish company said it saw the arbitration procedings as the only way to obtain compensation for loss of revenue.

In a press release Vattenfall said it explicitly welcomed the public nature of this hearing.

"We are convinced that transparency is helpful in understanding this case," says Anne Gynnerstedt, Vattenfall’s General Counsel. She stresses that the arbitration proceedings in no way mean that Vattenfall is questioning the political and societal decision for Germany to phase out nuclear power in Germany. "But we have always stressed that we expect fair compensation for the resulting financial damage," says Gynnerstedt.

Vattenfall’s request for arbitration was registered with the ICSID May 31, 2012, and a decision is not expected before 2017.

The hearing will be held in English and can be followed from Germany and Sweden starting on Monday at 20:30 CET. The reason for the late broadcast is the six-hour time difference and a buffer of four hours which both parties have agreed on. On the following days of the hearing, the broadcast will begin at 19:00 CET.


TAGS: Vattenfall | Germany | arbitration | lawsuit | live streaming | nuclear energy | Fukushima | revenue loss | energy 


All world news

No published comments
Login to comment


Interview

20.03.2022  Teodor Bobochikov, Managing Partner, V-Ridium
Energy Transformation – Trends and drivers
Full text

Events

No records in this category!

Poll

What kind of transport do you use to get to work?











 



We use cookies to ensure we give you the best browsing experience on our website. Find out more on how we use cookies and how you can change your settings.

Cookies

What are cookies ?

A cookie is a small text file that a website saves on your computer or mobile device when you visit the site. Cookies are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the site.

How do we use cookies?

Website use Google Analytics, a web analytics service provided by Google, Inc. ("Google") to help analyse the use of this website. For this purpose, Google Analytics uses"cookies", which are text files placed on your computer.

The information generated by the cookies about your use of this website - standard internet log information (including your IP address) and visitor behaviour information in an anonymous form - will be transmitted to and stored by Google including on servers in the United States. Google will anonymize the information sent by removing the last octet of your IP address prior to its storage.

According to Google Analytics terms of service, Google will use this information for the purpose of evaluating your use of the website and compiling reports on website activity.

We not use, and not allow any third party to use the statistical analytics tool to track or to collect any personally identifiable information of visitors to this site. Google may transfer the information collected by Google Analytics to third parties where required to do so by law, or where such third parties process the information on Google`s behalf.

According to Google Analytics terms of service, Google will not associate your IP address with any other data held by Google.

You may refuse the use of Google Analytics cookies by downloading and installing Google Analytics Opt-out Browser Add-on. The add-on communicates with the Google Analytics JavaScript (ga.js) to indicate that information about the website visit should not be sent to Google Analytics.

Cookies are also used to record if you have agreed (or not) to our use of cookies on this site, so that you are not asked the question every time you visit the site.

Google Analytics Opt-out Browser Add-on

How to control cookies?

You can control and/or delete cookies as you wish. You can delete all cookies that are already on your computer and you can set most browsers to prevent them from being placed.

All about cookies

Managing cookies in your browser

Most browsers allow you to:
  • see what cookies you have got and delete them on an individual basis
  • block third party cookies
  • block cookies from particular sites
  • block all cookies from being set
  • delete all cookies when you close your browser

If you chose to delete cookies, you should be aware that any preferences will be lost. Also, if you block cookies completely many websites (including ours) will not work properly and webcasts will not work at all. For these reasons, we do not recommend turning cookies off when using our webcasting services.
X