- Almost three in five over 65s are worried about heating bills this winter
- More than a third of pensioners are already struggling with their bills
- Nearly 30% of elderly people are raiding their savings every mont to make ends meet
– Ros Altmann, director-general of Saga
We are still to feel the full effects of the latest price rises so energy costs are likely to put even more of a financial strain on households in 2013.
While incomes have increased in the last seven years, they have not kept pace with the rate that energy and fuel costs have risen, meaning that people are spending more of their income on fuel.
"This is especially true for older people who are often on lump or fixed incomes or whose savings income has fallen.
Since 2005, older people have seen their energy bills more than double.
In 2005, the average annual spend was £668.98, compared to £1,355.90 last year, research from Saga has found.
The report said that the over 65s spent an estimated £17.4 billion on electricity and fuel bills in 2012.