The Act of 22 July 2016 Amending the Energy Law and Certain Other Acts was published on 2 August 2016. The act is intended to eliminate the black market in fuels, strengthen competition on the market, and improve Poland’s energy security. The amendments introduced by the act primarily concern the market for natural gas and liquid fuels ...
On July the 27th 2016, Law No. 20.936 that establishes New Power Transmission Systems and creates an Independent Coordinating Body for the National Power System (the “Transmission Law” or “New Law”) was published. Its stated objectives are to ensure that transmission does not become an obstacle to power generation, increase competition in the electrical market and boost the development of non-conventional renewable energies ...
On July 5, 2016 the Chilean Congress enacted Law No. 20,931 (“Anti-crime Agenda”), strengthening the prosecution of robbery, burglary, theft and willfully or negligently receiving or possessing stolen goods. The Chilean Criminal Code sanctions any individual who knowingly or negligently possesses, transports, buys, converts or trades goods proceeding from theft, robbery, embezzlement and/or cattle theft. Negligent behavior can also be prosecuted ...
The July 2016 issue of the International Financial Law Review (IFLR) included an international briefing article entitled “Renewable energy projects”. The article was contributed by SyCipLaw partner Rafael L. Encarnacion. The article discussed the challenges that the national legal regime poses to foreign investors seeking a higher equity stake for renewable energy projects, and the difficulty of procurement with either-end users or distribution utilities ...
Allied Irish Bank PLC -v- Moloney & anor [2016] IEHC 346 Twomey J, 20 June 2016, concerned an application by Allied Irish Bank (AIB) for summary judgment in the sum of €10.8m. The defendants contested the application claiming that they had a binding oral agreement with AIB, whereby it was agreed that the defendants would sell the properties charged to AIB, and the outstanding loan would be written off. The fact of the borrowings was not disputed ...
According to latest news reports, Plinovodi – the company managing Slovenian gas pipelines, will be brought under majority state control, while the energy company, Petrol, is due to secure a majority stake in the gas wholesaler Geoplin under a contract signed this month. It should be noted that the Slovenian Sovereign Holding (SSH) and Petrol are currently the largest Geoplin shareholders. Geoplin, in turn, is the sole shareholder of Plinovodi ...
Recent news reports are informing us that an Anglo-Chinese consortium, consisting of British company Scarborough Group International and the Chinese owned China National Electric (CNEEC) company, has signed a contract to build a thermal power plant in Loznica, in the amount of EUR 230 million. The consortium received additional financial support from the China Development Bank, while the Chinese insurance company Sinosure also showed interest in participating in the project ...
With more than 6-months of delay, the Government of the Republic of Serbia finally adopted the following package of decrees setting out the new incentive scheme for green energy:Decree on the Power Purchase Agreement, ("PPA Decree");Decree on incentive measures for the production of electric energy from renewable energy sources and from high-efficiency cogeneration of electric energy and thermal energy (" View More
When the wording of a construction-related guarantee is ambiguous, the intention of the parties involved is key in determining its true nature. This was highlighted in a recent Supreme Court of Appeal (“SCA”) judgment, which found that the best way to determine the parties’ intention was to look at all relevant facts ...
One of the liveliest parts of the recently held panel discussion organised by the Association for Sustainable Development and the Youth Forum of the European Movement, was revolving around Serbia's obligation to reach 27% of its total consumption of energy to be coming from renewable energy sources (RES) by year 2020 ...
The recent First Chamber Supreme Court’s (SC) case law has been consistent when determining that the granting of clientele compensation in case of unilateral termination of the distribution agreement by the manufacturer could not be made automatically by analogous application of the Agency Contract Act, but by taking into account the particular casuistry ...
On March 1st, 2016, Supreme Decree N° 62 of the Ministry of Economy, introduced in 2006 (hereinafter, the “Decree 62”), that regulates capacity transfers among power generation companies entered into force, modifying the methodology used to calculate transfers.IntroductionThe Chilean electric system remunerates power generation companies for two products: energy and capacity ...
Dear All, ALRUD Law Firm hereby informs that the amendments introduced to Arbitrazh procedural code in accordance with Federal law as of 02 March 2016 No. 47-FZ “On the amendments to APK RF” (hereinafter referred to as – “Law”) will come into effect on 01 July 2016. The Law remains in line with the general trend on reduction of arbitrazh (state commercial) courts workload and speeding up arbitrazh proceedings ...
By a judgment of 24 May 2016 in the MT Højgaard/Züblin case (Case C-369/14), the Court of Justice of the European Union has pronounced on the possibilities of changing the identity or the composition of a preselected entity during an award procedure. The case was a result of E ...
On April 29, 2016, the National Center for Energy Control (“CENACE”) announced the second auction for long-term supply and purchase contracts to satisfy the need of basic service suppliers (for the time being, the Federal Electricity Commission, perhaps better known for its acronym, “CFE”), for power, capacity, and clean energy certificates. The standard commercial operation date of the projects awarded under the auction is scheduled for January 1, 2019 ...
TheSarajevo Business Forum2016(SBF) was, among hosting a number of lectures and discussions, a platform for one of the largest post-war investments in the energy sector in Bosnia & Herzegovina (BiH) ...
On May 2, 2016, the Colorado Supreme Court issued two anticipated opinions that are important to the oil and gas industry in Colorado, and could be precedent for similar efforts pending in a number of states where local governmental entities are trying to rein in fracking ...
The Mexican Secretary of Energy (“SENER”) has received 62 applications from 32 companies during the first 15 days of April 2016. As of April 25, it has granted 16 permits for the importation of gasoline and 26 permits for the importation of diesel. Read the full alert ...
Pemex is considering offering to the private sector up to six of its refineries to obtain some liquidity for its financial restructuring. As announced by Pemex’s CEO, José Antonio González Anaya, estimated individual transaction values may range from US$500 million to US$1.5 billion per refinery. The six refineries are currently operating at a collective, estimated annual loss of MX$100 billion (approximately US$5.8 billion) ...
The effects of the precipitous decline in oil and gas prices after mid-2014 are well chronicled, but are still unfolding. Although oil prices have risen recently, the current price environment continues to adversely affect a broad range of energy-industry and related-industry businesses, including exploration and production, service and supply, and midstream companies, as well as those that directly or indirectly support or contract with those businesses ...
It is slowly starting to feel like distant history when civilisation's efforts to satisfy the most fundamental need for energy were focused mainly on utilising non-renewable sources. Fossil fuels, natural gas, oil, and coal have been the backbone of the industrial age's rapid development, effectively helping bring on the contemporary era of existence we are witnesses of ...
On 15 April 2016, the Minister of Mineral Resources, Mosebenzi Zwane (the “Minister”), unexpectedly published the draft Reviewed Broad Based Black-Economic Empowerment Charter for the South African Mining and Minerals Industry, 2016 (“draft reviewed Mining Charter”). The timing of its publication means that the fate of the Chamber of Mines’ current High Court application now hangs in the balance ...
The Uruguayan Government announced a non-binding call for expressions of interest in order to define the demand for the purchase of gas in relation to the regasification plant GNL del Plata, which is under construction by Gas Sayago (owned by the state-owned companies UTE and ANCAP). The call launched today refers to services of storage capacity, regasification or reloading of LNG and will remain open until May 6th, 2016 ...
Republika Srpska's Minister of Industry, Energy, and Mines, Petar Đokić, together with a group of entrepreneurs, recently visited a business forum in Nizhny Novgorod – one of the leading industrial areas in Russia – for the purpose of promoting investments in the region ...
