Young people worst hit by UK energy crisis

However, people of older age groups will face the greatest income squeeze this winter, new report finds

Big Zero Report 2022

Younger generations may struggle most to cope with rising energy bills.

That’s one of the key findings of a new report by the Resolution Foundation – it justifies its conclusion by saying that younger households are up to four times more likely to be on pre-payment meters and are less likely to have coping mechanisms for responding to rising energy costs.

However, the report stresses that it is older generations, in particular the over-75s, who will be forced to spend an increasing share of their income on energy bills this winter.

Analysts estimate this share increased to 8% from 5% – they note that this is partly driven by the fact that people in this age group are more likely to live in energy-inefficient homes.

It is estimated that nearly a third of households headed by a person aged 65 and above live in homes with an EPC rating of A to C.

This is compared to half of the households of those aged 16-29.

The report also finds that the package of the government’s support measures will offset some rising costs for all age groups but will leave those aged 65 and above £500 worse off than those aged 40-49, on average.

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