Age UK responds to Ofgem's price cap announcement
By: Age UK
Published on 25 May 2023 08:00 AM
In response to Ofgem’s price cap announcement this morning, Caroline Abrahams, Charity Director at Age UK, said: "It's a relief to hear that prices are coming down from their unprecedented high, but the fact is this crisis is not over, certainly for anyone on a low income for whom, we fear, there's another difficult autumn and winter to come. In our experience, older people are incredibly skilful at making every penny count, but after this prolonged period of inflation, and the need for many with savings to have to draw on them simply to stay afloat, there's no end to the nightmare yet in sight.
"Surely the lesson is that we need a lasting solution for the energy price fluctuations that have wrecked so many older people's finances, including hundreds of thousands who never dreamed that they would struggle for money once they retired. At Age UK we are increasingly convinced that the answer is a Government funded social tariff for energy. This would discount energy bills by as much as half for people of all ages who are struggling the most, giving them the reassurance to keep the heating on when it's cold, rather than trying to get through without it. In our view this shouldn't be too much to ask in the 21st century."