A report has found 62 per cent of over 65s – as many as 7.75m – live in inefficient properties (EPC ‘D’ or below), compared to 48 per cent of under 30s.

The energy inefficiency of their homes is leading over 65s to pay £611 more per year on average for their energy bills compared to under 30s, based on the Government’s current Energy Price Guarantee level of £2,500.

This would rise to £713 per year if the Government goes ahead with its planned increase in the Energy Price Guarantee to £3,000 from April.

Ofgem regulate the prices energy businesses are able to charge consumers for each kilowatt hour (kWh) they use, with the government subsiding the cost for households via the Guarantee – this limits the maximum energy price, but not the maximum bill for consumers.

Over 65s are more likely to pay higher bills due to living in older properties than younger generations, which are usually less energy efficient than newer builds.

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