Case Details

Suomi Power Networks TopCo B.V., Supernova II Bidco BV and AMF Tjänstepension AB v. Republic of Finland (ICSID Case No. ARB/24/37)

Subject of Dispute:

Electric power distribution services
Economic Sector:

Electric Power & Other Energy
Instrument(s) Invoked:

ECT (Energy Charter Treaty)
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Suomi Power Networks TopCo B.V. (Dutch), Supernova II Bidco BV (Dutch), AMF Tjänstepension AB (Swedish)
Respondent(s):

Republic of Finland (Finnish)
Date Registered:

August 23, 2024
Date of Constitution of Tribunal:

February 14, 2025

Composition of Tribunal

President:

Eric A. SCHWARTZ (French, U.S.) - Appointed by Co-Arbitrators
Arbitrators:

Peter TURNER (British, French) - Appointed by the Claimant(s)
Zachary DOUGLAS (Australian, Swiss) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Debevoise & Plimpton, London, U.K.
Respondent(s):

Three Crowns, London, U.K. and Madrid, Spain
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

December 18, 2025 - The Respondent files a counter-memorial on the merits.

(a) Original Proceeding

Published Decisions

Procedural Order No. 1

Procedural Order No. 2

Procedural Order No. 3

Available on the ICSID Website

Procedural Order No. 1 (April 16, 2025) English (Original)

Procedural Order No. 2 (April 16, 2025) English (Original)

Procedural Order No. 3 (August 8, 2025) English (Original)

(a) Original Proceeding

Date	Development
August 23, 2024	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
November 14, 2024	Following appointment by the Claimants, Peter Turner (British/French) accepts his appointment as arbitrator.
December 1, 2024	Following appointment by the Respondent, Zachary Douglas (Australian/Swiss) accepts his appointment as arbitrator.
February 14, 2025	Following appointment by his co-arbitrators pursuant to the parties’ agreement, Eric Schwartz (French/U.S) accepts his appointment as presiding arbitrator.
February 14, 2025	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Eric Schwartz (French/U.S), President, appointed by his co-arbitrators pursuant to the parties’ agreement; Peter Turner (British/French), appointed by the Claimants; and Zachary Douglas (Australian/ Swiss), appointed by Respondent.
March 20, 2025	The Tribunal holds a first session by video conference.
April 16, 2025	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
April 16, 2025	The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality.
May 22, 2025	The Claimants file a memorial on the merits.
June 9, 2025	The Respondent files a request to address the objections to jurisdiction as a preliminary question pursuant to ICSID Convention Article 41(2) and ICSID Arbitration Rule 44.
June 27, 2025	The Claimants file observations on the request to address the objections to jurisdiction as a preliminary question.
July 7, 2025	The Respondent files a response to the Claimants’ observations of June 27, 2025.
July 17, 2025	The Claimants file further observations on the Respondent’s response of June 9, 2025.
August 8, 2025	The Tribunal issues Procedural Order No. 3 concerning the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the preliminary objections are joined to the merits of the dispute.
December 18, 2025	The Respondent files a counter-memorial on the merits.