Those pensioners on the very lowest incomes are spending almost a fifth of their after-tax household income on energy bills.
The warning comes from the latest report by charity Age UK, which suggests the new price cap rise in April brought more financial pressure on elderly people.
The findings of the report reveal almost 29% of older households in England are ‘fuel stressed’, spending more than 10% of their income on energy bills.
Earlier this week, the energy regulator predicted that energy bills could rise even further in October with a new price cap “in the range of £2,800”.
Yesterday, the government unveiled a new £15 billion cost of living support package for customers struggling to pay their bills amid the energy crisis.
Caroline Abrahams, Charity Director at Age UK, said: “Older people aren’t stupid and they realise that if they are struggling to keep their heads above water as things stand, the chances are they’ll slip under altogether in a few months’ time.
“This makes it a horrible time for them, as they see their modest expectation of living decently in retirement slipping out of reach, certainly temporarily, possibly forever.”