SKELEC SUCCESSFULLY DEFENDS US$2.66 MILLION ARBITRATION IN THE INTERNATIONAL COURT OF ARBITRATION

BASSETERRE, ST KITTS JUNE 10, 2024 – The St Kitts Electricity Company Limited (“SKELEC”) successfully defended an arbitration proceeding brought in the International Court of Arbitration of the International Chamber of Commerce (“ICC”) by Pure Energy Solutions (SKN) Limited (“Pure Energy”). Pure Energy, who initiated the arbitration, was seeking US$2.66 million in damages against SKELEC for alleged breaches of a fuel supply agreement dated December 17, 2021.

SKELEC was represented by the Attorney General’s Chambers and Pure Energy by WeirFoulds LLP, a Toronto-based law firm. The sole Arbitrator selected pursuant to 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.

In September 2022, SKELEC terminated the fuel supply agreement on 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 that the fuel supply agreement provided.

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