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Power & Pipes

FERC, CFTC, and State Energy Law Developments

Last November, the Japanese Diet approved a bill to ratify the Convention on Supplementary Compensation for Nuclear Damage (CSC). On January 15, 2015, the Japanese representative to the International Atomic Energy Agency (IAEA) signed and delivered to IAEA’s director general Japan’s instrument of acceptance of the CSC.[1] The CSC is now expected to enter into force on April 15, 2015.[2] Once the CSC enters into force, it will make a significant additional international fund available to compensate third parties for damages in the event of a nuclear accident and will also introduce restrictions on jurisdiction over incidents that involve nuclear installations within the territories of CSC parties. Thus, the CSC will provide new protections to U.S. vendors that do business overseas, although the breadth of these protections will largely depend on how many countries adopt the CSC.