The European Parliament on Thursday approved revisions to the laws governing electricity markets in the European Union, in particular establishing a right to fixed-term contracts as a safeguard against price fluctuations. The new rules are a response to the price volatility seen in recent years. Energy prices in the EU rose sharply after the Russian invasion of EU ally Ukraine in February 2022, because Russia is a major exporter of natural gas and suspended deliveries to some countries. Prices also rose during 2021 due to rising demand as COVID-19 restrictions were lifted. The new legislation …