Greece and Spain, part of a group of EU member states seeking to reestablish a common front against any new energy crisis, intend to call for the continuation of a windfall earnings recovery mechanism in the wholesale electricity market when EU energy ministers meet on June 19 to discuss a new structure for the bloc’s energy market.

The European Commission last year adopted a windfall earnings recovery mechanism that was essentially based on a Greek model before it was applied by member states with some variation.

The Spanish government and the country’s energy minister Teresa Ribera want a recovery mechanism included in the European electricity market’s new structure and activated whenever any price crisis breaks out.

The proposal has already received support from Greece, to be represented at next Tuesday’s meeting by the interim government’s energy minister Pantelis Kapros, and a number of other EU member states.

This group of member states is now working on establishing a united stance on the recovery mechanism ahead of next week’s meeting.

It remains to be seen if the alliance will be strong enough to convince Brussels to include the mechanism in its plan for the new market structure.

Some EU member states remain concerned about the possibility of a new energy crisis despite EU gas storage facilities being 60 percent full and a  continual inflow of LNG at European ports.