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Swiss company seeks 11 million euros in damages from Latvia over alleged Energy Charter Treaty breach

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Swiss company RSE Holdings AG initiated international arbitration proceedings against Latvia before the Permanent Court of Arbitration on 22 December 2021, where the company is reportedly pursuing 11 million euros in damages in response to Latvia effecting “certain changes… to the regulatory framework applicable to electricity produced in high-efficiency cogeneration.” RSE Holdings claims those changes violate Article 10(1) of the Energy Charter Treaty.

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