The trust said that these increases were having a profound effect on pensioners, with those over the age of 75 spending an average of seven per cent of their retirement budget on electricity and gas.
Shona Dobbie, head of the Alliance Trust Research Centre, claimed utility price increases are a big concern for the elderly, especially during the winter months.
Siobhan McCann of Help the Aged said: "Pensioners are struggling more than ever because most of the rising prices are for essential items such as food, energy and now water."
"These prices are rising faster than inflation," she added.
Meanwhile, research by the Conservative Party shows that inflation for pensioners is as high as 8.6 per cent for singles.
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.