In Search of Limits of Regulatory Powers. Antin v. Spain (ICSID Case No. ARB/13/31)

This submission analyses the award rendered in one of the ‘Spanish saga’ cases by a tribunal constituted under the Energy Charter Treaty. This group of cases concern renewable energy disputes and relates to the limits of states’ sovereign powers to amend their regulatory frameworks. The analysis commences by a short presentation of the relevant factual background of the dispute. It then proceeds to each stage of the arbitral proceedings: jurisdiction, merits and remedies. The submission finishes with a number of conclusions drawn from the award, referring to legal issues that can potentially serve as lessons learned for the future.