Irrespective of the outcome of the case, there is the cost to the host State of defending the investor-State proceeding, with lawyers‘ and arbitrators‘ fees generally well into the millions of dollars. [...] The Energy Charter Treaty The origins of the Energy Charter Treaty (ECT) date back to the early 1990s and the end of the Cold War. [...] In practice, tribunals have taken several different views as to what constitutes ―like circumstances.‖ Under the approach of the tribunal in the 2000 case of SD Myers v. Canada, the tribunal looked to the law developed in the context of the World Trade Organization to understand when parties are in ―like circumstances.‖ Under the SD Myers approach, if an investor‘s coal power station and a domesti [...] The first approach, used in the case of Metalclad v. Mexico (2000), is known as the ―sole effects doctrine.‖ This approach considers the purpose of the challenged measure to be irrelevant and the measure‘s impact on the investor is the sole criterion. [...] The second approach, used by the tribunal in Tecmed v. Mexico (2003), weighs the public purpose of the measure against the burden placed on the investor and requires there be a reasonable relationship of proportionality and the burden not to be individual or excessive.