The arbitration panel inside the Attarat case has issued a ruling mentioning that the Jordanian authorities and the National Electric Power Company (NEPCO) aren’t obligated to pay any part of the prices to Attarat Power Company.
Here is the text of the choice acquired via the Jordan News Agency (Petra):
At the give up of 2020, NEPCO and the Jordanian authorities initiated an global arbitration case in opposition to Attarat Power Company, in search of a ruling on the lifestyles of immoderate unfairness inside the Power Purchase Agreement (PPA) signed with the organisation in 2016, without inquiring for a halt to the assignment or the annulment of the PPA. It is noteworthy that there had been previous amicable negotiations with Attarat Power Company before the arbitration case become filed. NEPCO saved the door open for amicable negotiations always and tried to interact in friendly discussions with the traders in the course of the arbitration lawsuits.
The arbitration panel ultimately dominated that the legal foundation for this lawsuit changed into valid, determining that NEPCO’s funds are country funds and that it’s miles permissible to task the settlement if it involves excessive unfairness. However, the panel chose the go back on funding as the criterion for assessing the bias, which led to their decision to dismiss the case.
Given the validity of NEPCO’s felony foundation for the lawsuit, the arbitration panel dominated that the Jordanian authorities and NEPCO aren’t required to reimburse Attarat Power Company for any part of the costs incurred in defending this situation.
During the almost 4-12 months arbitration method, NEPCO did not halt the mission or disrupt the execution of the agreements associated with it. This approach that NEPCO will no longer bear any extra burdens due to the arbitration case dismissal, nor will it incur any new responsibilities or responsibilities beyond the ones originally stipulated inside the challenge agreements signed in 2016. The implementation of those agreements will preserve as required by means of applicable Jordanian regulation.
