Remind you all of the event has been organised by SPICE.

Now, SPICE seminars are to provide members and their staff and the Parliament staff

an opportunity to hear from expert witnesses and key speakers actually on policy issues

and to improve all of our understanding and in support of parliamentary business.

Now, the cause of the energy cost crisis can be linked, as we all know, to various factors.

The rapid economic recovery following the pandemic led to an initial fuel price rises late last year,

and then the beginning of the Russian invasion of Ukraine, which has contributed hugely to driving

out the price of gas to record highs in Europe. The result has been that home heating bills

that were anticipated to be at least three or four times higher than this year than last.

In July this year, the NET Zero Energy and Transport Committee, which I convened, published a report on its short inquiry into energy price rises.

There were clear messages from this inquiry for a pandemic-level response to the crisis.

The committee identified a need for the Scottish and UK governments working separately and together

to provide more immediate targeted financial support for those struggling with their field bills.

And the committee also recognised the need to accelerate medium and long-term plans and strategy to reduce future exposure. These are the issues which we look to in look at this

morning and I'm delighted to welcome our invited speakers. There's both professors so I can't

say professor and get away because they'll both jump in but Stuart on my right is a professor of carbon capture and storage at the University of Edinburgh.

40 years of research and experience in energy with a focus on innovating new approaches to oil and gas and radioactive ways, carbon capture and storage.

And Matthew Hannan is a professor of sustainable energy business and policy at the University of Strathclyde. Matthew's research examines business models, policies and technologies necessary to accelerate the transition to a socially equitable net zero economy.

Now, the main part of the summary, I'm going to ask the speakers to respond to three questions

exploring the structural causes of the energy cost crisis. They'll have about five minutes each

to respond to these questions and after the main

discussion there will be an opportunity for the audience to ask questions.

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