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Spain confirms intention to withdraw from Energy Charter Treaty
(EurActiv, 14 Oct 2022) Spain has initiated a procedure to withdraw from the Energy Charter Treaty (ECT), which protects investments in fossil fuels and other energy infrastructure, official sources confirmed to EURACTIV’s partner, EFE.
The ETC is a multilateral treaty signed by 53 countries that has been in force since 1998 and whose revision has been under negotiation for four years.
After a last negotiation round in June, the treaty is now set for a formal revamp in November, pending agreement and subsequent ratification by all signatories.
Investors in the energy sector enjoy special protection under the treaty. Over the years, some have used the ECT to challenge decisions by EU countries to phase out fossil fuels.
Several EU member states, such as Spain, the Netherlands and Luxembourg, have called on the European Commission to either reform or abandon the treaty.
Spain’s minister for Ecological Transition, Teresa Ribera, has called in the past for “a coordinated exit from the ECT” by the EU and its member states and has finally decided to make the move, official sources told EFE.
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EurActiv, 14 Oct 2022: Spain confirms intention to withdraw from Energy Charter Treaty
