Record energy prices are hitting older generations more than younger ones, due to their inefficient homes.

A study found that 62 percent of 65-year-olds (or as many as 7.75m) live in inefficient homes (EPC D' or lower), compared with 48 percent for those under 30.

Their homes' energy inefficiency is causing them to pay £611 more per year for their energy bills than those under 30. This is based on the current Energy Price Guarantee level at £2,500.

If the Government proceeds with its plan to increase the Energy Price Guarantee to £3,000 starting in April, this would mean that it would rise to £713 per annum.

Ofgem regulates the prices that energy businesses can charge consumers for every kilowatthour (kWh). The government subsidises the cost for households through the Guarantee. This limits the maximum energy price but not the maximum bill.

Over 65s are more likely to live in older properties and those are generally more expensive to heat than newer built properties, which are often occupied by younger generations. 

There is also a greater chance of them living in a detached property, which would normally be less efficient than a flat or terraced property. 

The results were recently revealed in research undertaken by Kingfisher, owner of B&Q and Screwfix, in collaboration with Cebr, the Centre for Economics and Business Research.

Further studies of 3,000 adults revealed that one in ten pensioners plans to downsize within the next two-years, with 49% citing energy bills for their decision.

On the other end, 34% of 18-24-year-olds said they would consider moving in with friends or family due to rising energy costs. Only 45% of them stayed with their parents.

Three quarters of people aged between 18 and 64 said that rising energy costs were a factor in their decision to move in with friends or relatives in the last year.

Kingfisher CEO Thierry Garnier stated that the UK homes are some of the most energy-inefficient in Europe. This is making energy bills more expensive for many households, when prices are already at a record high. 

"Our research has shown that older generations are more likely to live in inefficient houses, which means that the most vulnerable members of society are most at risk for higher living costs.

According to the research, 81 percent of Brits are concerned about the increase in energy price guarantee starting April.

OnePoll polled 64 percent of respondents to say that energy efficiency is a higher priority than it was 12 months ago when they moved into their homes.

54 percent of respondents plan to improve their energy efficiency in the next year. The most popular measures are energy efficient lighting, smart meters and draught proofing.

While pensioners are more likely to live with inefficient homes than others, they are less likely to plan for improvements. Only 35% of them have plans to do so within the next 12 months.

Kingfisher's Thierry Garnier said: "While prices will fall in the summer, it is not a reason for us to put off taking steps to increase energy efficiency.

"In the short-term, we would like to see a coordinated Government drive ahead of next winter to support the public to insulate over 5 million lofts across the UK that are uninsulated, as well as a reduction in VAT to zero for all efficiency products.

"Over the long-term, more grants will be needed to improve the lives of those with lower incomes. This investment should also include skills development to help us install efficiency measures at scale. Otherwise, the UK will continue to fall behind in energy efficiency.