DRAX PUMPED STORAGE LIMITED
Company number: 06657336
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
30 July 2025
Approved by:
Andy Skelton
Payment statistics
Average time taken to pay invoices: 57 days
Total value paid:
- within 30 days: £2,374,983 (9%)
- in 31 to 60 days: £23,301,840 (90%)
- in 61 days or more: £298,853 (1%)
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 64%
- in 61 days or more: 9%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £3,350,200
- payments due in the reporting period which have not been paid within the agreed period: 15%
- not made in the reporting period due to a dispute: 10%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Drax Pumped Storage Limited standard contract payment terms are 60 days; however, different terms may be agreed with suppliers as part of contract negotiations. Payment runs are completed on a weekly basis with approved invoices falling due for payment in the preceding week included in the payment run.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
On receipt of an invoice, Accounts Payable perform standard checks to confirm: - •The invoice is for Drax Pumped Storage Limited •We have authorised supplier details and bank account for payment •A Purchase Order (PO) number is quoted and matches an approved order number •The invoice details match the approved PO for quantity, price, and description of supply •The PO has been receipted •The invoice has not already been paid We aim to complete these checks within 5 days of invoice receipt. If invoices are received on a timely basis and no queries arise from these checks, payment will be scheduled by BACS in accordance with terms. Where queries arise, payment will be made by BACS once these queries are resolved. We aim to resolve queries within 10 days and make payment on the next scheduled BACS run. Disputes should be sent to the following email address; accountspayable@drax.com This email is monitored daily by Accounts Payable.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No