Research On Legitimate Expectations Of Investors Of The Energy Charter Treaty

Energy investment has always been an important project of international investment,especially in the transition to clean energy in recent years,renewable energy investment has become a popular choice.According to a report released by the International Energy Agency,renewable energy power is expected to account for about 80 % of the increase in global electricity demand in 2020-2030.As the only multilateral treaty in the field of energy,the Energy Charter Treaty has played a huge role in promoting and protecting energy investment.In 2015,China became an observer of the " Energy Charter Treaty." China ’s value pursuit is consistent with the " Energy Charter Treaty." In recent years,investors have filed a large number of investment arbitration cases around the fair and equitable treatment of Article 10(1)of the Energy Charter Treaty and their legitimate expectations The " Energy Charter Treaty " is limited to the purpose of contracting and the specific historical background,the text is very vague,and the standards are not uniform in the application,resulting in an imbalance between the interests of investors and host countries.However,the research on the legitimate expectations of investors in the Energy Charter Treaty at home and abroad is mainly based on individual cases,lacking systematic research.Therefore,it is necessary to analyze the specific problems in the application of this clause in arbitration practice,and improve the application of investors ’ legitimate expectations in the Energy Charter Treaty by analyzing the provisions of other investment agreements on investors ’ legitimate expectations,so as to realize the continuity of arbitration and maintain the effectiveness of the treaty.By studying the arbitration practice and treaty practice reasonably expected by investors of the " Energy Charter Treaty," it is of reference significance for China to deal with the relationship with the " Energy Charter Treaty " and bilateral investment treaties.In addition to the preface,this article consists of five parts.In the first chapter,this paper will first try to trace the root of the concept of legitimate expectation of investors,from the investigation of domestic administrative legal system to the background of investment treaties,which has become a component of fair and equitable treatment.It also analyzes the reasons and characteristics of the ’ Energy Charter Treaty ’ to protect investors ’ legitimate expectations,which lays a theoretical foundation for the analysis of investment arbitration practice.The second chapter starts from the treaty practice.Firstly,through the analysis of the text of the Energy Charter Treaty,it explores the advantages and disadvantages of the clause.Then,by comparing and analyzing the legitimate expectations of investors in the ’ North American Free Trade Agreement ’,’ The United States-Mexico-Canada Agreement ’ and ’ Comprehensive Economic and Trade Agreement ’,the second chapter analyzes the disputes and rulings of investors ’legitimate expectations in the ’ Energy Charter Treaty ’,and summarizes the current investors ’ legitimate expectations in the ’ Energy Charter Treaty ’.The arbitration practice has three problems : the basis of legitimate expectations is abstract,the expected content is not uniform,and the arbitral tribunal ’s right to interpret the treaty is not restricted.On this basis,this paper analyzes the causes of the problem of investors ’ legitimate expectations in the ’ Energy Charter Treaty ’,mainly the conflict between the host country ’s regulatory power and the interests of investors in the energy field,the influence of the concept of investor protection,the purpose of contracting and the limitation of legislative level.The fourth chapter,arbitration practice and treaty practice,puts forward some suggestions on the legitimate expectation of investors in the energy charter treaty from the basis of clear expectation and the right to interpret the treaty of the arbitral tribunal,so as to promote the protection and promotion of energy investment.The fifth chapter first analyzes the relationship between China and the Energy Charter Treaty,and puts forward China ’s path choice in combination with the Belt and Road Initiative.The status quo and shortcomings of China ’s bilateral investment agreements,combined with China ’s economic development needs,put forward suggestions for China ’s bilateral investment agreements.The innovation of this paper : First of all,this paper puts forward that the essence of the dispute between energy investors and host countries about the legitimate expectations of investors is the dispute of interest balance.This paper is different from the previous case analysis articles and reasons,and summarizes the systematic and fundamental problems through the case.Secondly,this paper puts forward some suggestions for improvement from the aspects of entity and procedure.This paper draws on the practice of treaty practice combined with arbitration practice.Based on the interest balance mechanism,this paper puts forward substantive suggestions from three aspects : host country behavior,damage and expectation itself.At the same time,it puts forward suggestions on restraining the exercise of the arbitral tribunal ’s treaty interpretation power in terms of procedures.