GOV.UK
NORTHERN POWERGRID METERING LIMITED
Company number: 07647856
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 26 July 2019
and approved by Tom Fielden
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 20%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Shortest standard payment period
28 days
Longest standard payment period
61 days
Standard payment terms
Net monthly. Net monthly is the standard payment term offered. This means that when an invoice is received for payment it will be paid by the end of the following month e.g. an invoice received on 31 Jan would be paid by 28 Feb (shortest duration of standard payment terms i.e. 28 days) or an invoice received on 1 Jul would be paid by 31 Aug (longest duration of standard payment terms i.e. 61 days) .
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
61 days
None
Any other information about payment terms
No changes have been made to the standard payment terms however, there have been changes agreed with a small number of suppliers adapting payment terms to the unique circumstances of these suppliers.
Dispute resolution process
The Accounts Payable department will initially take responsibility for disputes relating to payment processing. Where a dispute is commercial in nature, or requires operational resolution, the case will be passed to the person responsible for raising the order for timely clearance.
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