A New EU Perspective: Climate Change Clauses in Energy Contracts
Article from: OGEL 2 (2013), in Risks and Responses to Risk in the Energy Sector
Climate change brings to the fore interesting discussions related to energy markets and contract law. Adaptation and mitigation policies as well as climate change itself (e.g., through extreme weather patterns), need to be adequately addressed by contractual mechanisms that deal with force majeure and risk sharing both at the conclusion of energy contracts and, if necessary, throughout their implementation by means of renegotiation clauses. This must be done while keeping in mind that any development in the energy market must remain economically and environmentally sustainable ...