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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

  • © 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 

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