BASSETERRE, St. Kitts, CMC – The state-owned St Kitts Electricity Company Limited (SKELEC) has successfully defended an arbitration proceeding brought in the International Court of Arbitration of the International Chamber of Commerce (ICC) by a locally based firm.
Pure Energy Solutions (SKN) Limited (Pure Energy) had initiated the arbitration seeking US$2.66 million in damages against SKELEC for alleged breaches of a fuel supply agreement dated December 17, 2021.
A government statement said that the sole Arbitrator selected under the ICC Rules, in his final and binding award, decided that SKELEC did not breach the fuel supply agreement as alleged and rejected all of Pure Energy’s claims.
“The Arbitrator also ordered Pure Energy to reimburse SKELEC for its arbitration costs in defending the proceeding,” the statement said.
In September 2022, SKELEC terminated the fuel supply agreement on the advice of the Attorney General’s Chambers after its Board of Directors was satisfied that Pure Energy did not demonstrate an ability to supply fuel in the quantity or at the price the fuel supply agreement provided.
SKELEC was represented by the Attorney General’s Chambers, and Pure Energy by the Toronto-based law firm WeirFoulds LLP.
The International Court of Arbitration describes itself as the world’s leading arbitral institution. According to its webpage, it has been helping to resolve disputes in international commercial and investment disputes since 1923.
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