EU strikes deal on electricity market reform to protect consumers 

The European Parliament and Council reached an agreement on Thursday to reform the electricity market. Energy ministers from all member states agreed to introduce a new set of rules to prevent price volatility and protect consumers. 

One of the key measures that stalled negotiations for months was the promotion of Contracts for Difference (CfDs), long-term contracts in which electricity producers and buyers agree on a price. If the final price is higher or lower than agreed in market situations, the same contract stipulates that the difference will be returned.  

These contracts guarantee more stable prices and are expected to encourage the use of green energy. However, the final agreement includes nuclear power, a key condition for France and one that has drawn sharp criticism from Germany. 

The package also includes other measures such as joint purchasing between countries and important protections for vulnerable citizens.

The third vice-president of the Spanish government and one of the main promoters of the reform, Teresa Ribera, said the agreement was "great news".

"It will allow the EU's dependence on Russian gas to be further reduced and the promotion of fuel-free energy," he said.