Spain submitted different proposals to tackle energy crunch

The Spanish Secretary of State for energy told reporters on arrival at the European Union’s meeting in Luxembourg on Tuesday that they have submitted different proposals to change how power is priced in Europe.

“We need to keep working on much more ambitious measures," Sara Aagesen said. Aagesen has said that they want to change how power prices are set. 

"Our proposal today is purchase contracts, options to buy that could be done in a centralised way by the European Union," she said.

Energy ministers from EU countries are meeting for an emergency meeting to discuss the soaring prices in power. 

According to a document seen by the news agency Reuters, Spain wants the European Union to set up a system to secure gas by auctioning contracts.