The Commission proposed a system that would allow the countries’ transmission system operators (TSO) to jointly buy strategic stocks of gas. Some of these plans would also help strengthen gas storage and aims to add more low-carbon gases to the network. They would also prove to be useful in an emergency situation of severe scarcity.

       This comes after Spain pushed for strong reforms in the EU energy sector after a surge in gas prices.

       Madrid has been one of the most outspoken governments calling on the European Commission for action on energy prices.

       Since July this year, they campaigned for a change to the EU’s marginal pricing system.

       Under this system, rates are set by the highest prices that national grids are willing to pay.

       Last month officials also demanded a common EU approach to natural gas purchases.

       This change would balance the vendors’ market power and the building of strategic reserves.

       On Tuesday, Spanish deputy prime minister Teresa Ribera told reporters that joint, rather than individual, purchasing could help secure better terms in global gas markets.

       However, this view has faced strong opposition from Northern EU countries, including the previous German government, who countered with their own papers.

       READ MORE: EU energy crisis meltdown – German prices hit record high

       This bloc argued that any energy price increase was not permanent and should not lead the EU to change its rules.

       However, the Spanish officials’ proposals to reform EU energy rules had the backing of countries that account for 45 percent of the EU population, including southern and eastern nations.

       They also said they were convinced more leaders are realizing the price spikes are a problem, according to POLITICO.

       France has previously backed Spain in these reform proposals, with Bruno Le Maire, France’s economy minister saying in October: “The EU energy market is not fit for what we want to achieve.

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