31% of pensioners said they were struggling financially before the war broke out in Iran, with energy being the main issue. In the face of soaring bills, the Government’s £53m of support for heating oil users will not be enough
Following on from the Government’s announcement this week providing £53m of support for oil-heated households, Age Cymru says it welcomes the announcement, but is concerned for older people who are on low and fixed incomes, many of whom are already struggling to make ends meet, who are facing immediate price hikes they won’t be able to afford.
This crisis takes place against the backdrop of the charity’s representative national polling conducted in January. Research[i] for the Charity found that cost-of-living pressures were still persisting among older people, with 31% saying they were struggling to manage financially.
Findings from this survey demonstrate the continued difficulties older people face in keeping up with a still-rising cost of living. 45% said that they were cutting back on heating or powering their home, and 36% said they are worried about getting into energy debt this (current) winter.
Age Cymru says it is deeply concerned about the impact the war in the Middle East could have on UK energy prices later in the year. The Charity is already hearing from older people who are fearful of what will happen next winter.
With around 10% of households in Wales reliant on heating oil, the charity says it urges energy companies, and the UK Government to ensure that support reaches older people who are most exposed to rising costs.
Meanwhile, research for the Charity clearly shows many older people's budgets are already highly stretched, resulting in the need for them to make cutbacks. Consumer energy debt is at a record level of (£4.5bn), demonstrating that people are still living with the impact of the last crisis. The level of debt is forecast to rise to £7 billion by the end of the year[v], and that's before accounting for the impact of higher prices, an increasing cause for concern.
Age Cymru say its immediate concern is ensuring that older off-grid households get the help they need to manage the massive price increases they now face. The Charity welcomes the Government's acknowledgement that people in this position need emergency help, but the £53m pledged simply won't stretch far enough to help all those in need, in the Charity's view.
In addition, it is important to note there are other groups of older people who are not covered by this plan, or by the price cap and who are also badly exposed to soaring prices, including some park home residents and care home residents.
Victoria Lloyd, Chief Executive at Age Cymru said: "Even before the crisis in the Middle East, one in four pensioners were finding life tough financially. Now we know that many will be worrying about the impact of the war on their fuel bills and anxious about not being able to afford their heating when they really need it during the Winter.
"The fact that the energy price cap will not be reviewed until July does provide some previous temporary reassurance, but it doesn’t help those older people who are using heating oil, immediately exposed to the drastic price hikes. We welcome the fact that the UK Government has recognised the urgency of the situation but we are concerned that the funding won’t stretch wide enough to support older people across Wales.
“It must be worrying if you are an older person who needs to order oil this week, while the weather remains cold, to be told that the price has doubled or in some cases tripled overnight. An older person who uses heating oil, living on a low fixed income now faces an uncertain situation that threatens their health and their wellbeing. We believe that both the UK and Welsh Governments need to do more to support older people during this crisis.
“We also need long‑term solutions. No older person should be left cold or unable to afford life’s essentials. Achieving this requires fairer energy prices, properly insulated and energy‑efficient homes, and a financial support system that tackles fuel poverty at its roots.
“For an older person who’s living on a low income and worried about affording to heat or power their home, we urge you to contact Age Cymru to see what support is available to them. There is support and we can help you.”
Age Cymru urges anyone who’s struggling and worried about extra cost of living to contact Age Cymru’s Advice Line on 0300 303 44 98 or visit www.agecymru.wales/advice for support. Age Cymru’s Advice Line is open Monday – Friday (9am-4pm)
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