Ireland joins eight countries opposing electricity market reforms to resolve energy price spike

They instead called for more measures to save energy

Under the current system, the wholesale electricity price is set by the last power plant needed to meet overall demand for power.

Ireland, Germany, Denmark and six other European countries said they would not support a reform of the EU electricity market, ahead of an emergency meeting of energy ministers to discuss the recent price spike.

European gas and power prices soared to record-high levels in autumn and have remained high, prompting countries including Spain and France to urge Brussels to redesign its electricity market rules.