Quote:
Originally Posted by Makarov
I take your point but, in any commercial relationship, there is always a risk that the regulatory or operating environment might suddenly change. Usually, that is part of the risk tolerance required to enter into an otherwise profitable agreement (which, for fifteen years, it appears these agreements were.) A right of unilateral repudiation, without penalty, at the first sign of troublesome change seems like a remarkably favourable provision for the energy companies involved.
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The constant risk of a regulatory environment changing is one thing. But it's a whole other thing when the party responsible for changing the regulatory environment is the party you've entered into the agreement with.