Summary

Source: icsid.worldbank.org

Supplementary Decision Proceeding

DECISION ON CLAIMANT'S REQUEST FOR A SUPPLEMENTARY DECISION ON THE AWARD

I. INTRODUCTION

1. On 26 September 2025, the Tribunal issued its Award.

2. In its Award, the Tribunal ruled as follows:

1096. In light of the above, the Tribunal:

(a) Dismisses all the jurisdictional objections raised by Italy.

(b) Declares that Italy has breached the Energy Charter Treaty:

(i) By failing to observe contractual obligations entered into with respect to Veolia's investments as required by Article 10(1) of the ECT, specifically:

(1) The obligation to timely pay and update the gate fee under Article 6 of the TEC Concession.

(2) The obligation to pay the Contributo under Article 8-bis of the Atto di Sottomissione of 31 October 2003.

(3) The obligation to meet the guaranteed waste quantities under the TEC Concession.

(4) The obligation to pay and adjust the gate fee under the 2010 Agreement and the TEV Concession.

(ii) By failing to accord fair and equitable treatment to Veolia as required by Article 10(1) of the ECT, specifically, by frustrating the completion of the TEC2 and the Reggio Calabria MBT (Sambatello 2) plants under the TEC Concession.

(c) Orders Italy to pay Veolia, for the losses derived from the breaches identified in subsection

(b) above, the amount of 85,832,011, plus:

(i) pre-Award interest from 31 December 2011 to the date of issuance of this Award, at the average 12-month EURIBOR rate, plus a 2% spread, compounded annually, and

(ii) post-Award interest from the date of issuance of this Award until the date of payment, at the average 12-month EURIBOR rate, plus a 2% spread, compounded annually.

(d) Orders Italy to pay all the costs of the proceeding, in accordance with ICSID Arbitration Rule 50. Therefore, the Tribunal orders the Respondent to reimburse the Claimant an amount of USD 580,958.1

(e) Orders each Party to bear its own costs related to legal fees and expenses.

(f) Denies all other prayers for relief.

3. In this Decision on Claimant's Request for a Supplementary Decision, unless the context otherwise requires, the Tribunal adopts the abbreviations used in the Award.

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VI. DECISION

60. In light of the above, the Tribunal:

(a) Grants Claimant's Request for a Supplementary Decision.

(b) Consequently, supplements paragraph 1096 (c) of the Award as follows:

"1096. In light of the above, the Tribunal: [...]

(c) Orders Italy to pay Veolia, for the losses derived from the breaches identified in subsection (b) above, the amount of 85,832,011 plus 9,279,749, plus:

(i) pre-Award interest from 31 December 2011 to the date of issuance of this Award, at the average 12-month EURIBOR rate, plus a 2% spread, compounded annually, and

(ii) post-Award interest from the date of issuance of this Award until the date of payment, at the average 12-month EURIBOR rate, plus a 2% spread, compounded annually."

(c) Orders the Parties to share equally the fees and expenses of the Members of the Tribunal and the administrative expenses of ICSID incurred in connection with Claimant's Request for Supplementary Decision.

(d) Orders Respondent to bear its own legal expenses and reimburse 50% of Claimant's legal expenses incurred in connection with Claimant's Request for Supplementary Decision.

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