Over-65s will spend more on heating energy-inefficient homes, research finds.
Pensioners are now paying £600 a year more for energy than the under 30s, new research has found.
Over-65s are the age group worst hit by rising bills, according to B&Q owner Kingfisher.
This is because more than six in 10 pensioners live in energy-inefficient properties, the research found.
The study, by the retail company in collaboration with economics consultancy Cebr, the Centre for Economics and Business Research, found that 62pc of over-65s – as many as 7.8 million people – live in properties with an energy performance certificate rating of D or below, compared to 48pc of under 30s.
Based on the Government’s current Energy Price Guarantee level of £2,500, this means the energy inefficiency of their homes is leading over 65s to pay £611 more per year on average for their energy bills compared to millennials and Generation Z.
This would rise to £713 per year if the Government went ahead with a planned increase in the cap to £3,000, although it is understood this rise will be cancelled in next week’s Budget.
A survey by Screwfix found one in 10 pensioners planned to downsize in the next two years, with half citing energy bills as a reason for doing so.
READ ON BELOW>>>Pensioners worst hit by energy crisis and face £600 bill rise
Pensioners worst hit by energy crisis and face £600 bill rise