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SPARK ENERGY LIMITED

Company number: SC301188

Reporting period:
1 July 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 31 January 2019

and approved by Hamish Osborn

Payment statistics

Average time taken to pay invoices: 15 days

Invoices paid:

• within 30 days: 89%
• in 31 to 60 days: 10%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 13 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

30 days after receipt of invoice.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

90 days payment term agreed with 1 supplier.

Any other information about payment terms

With regards to the 13% of invoices due but not paid this was the result of an entity of Spark Energy Limited (Spark Energy Supply) being placed into Administration. Without the administration the percentage of non payment would be 2%

Dispute resolution process

Within the first 2 weeks of receiving an invoice, we review and validate. If there are any queries, we revert to the supplier for answers. In the unlikely event of a dispute, we try to make part payment of invoices until the outstanding issues are resolved and then make payment of the remainder.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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