FIRST HYDRO COMPANY
Company number: 02444277
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
23 July 2018
Approved by:
Andrew Garner
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 6%
- in 61 days or more: 0%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
21 days
Longest standard payment period
28 days
Standard payment terms
Electricity trading related invoices are paid in accordance with the timescales set out in the GTMA. For supplies of goods and services to the power stations and visitor centre, small &/or local suppliers are paid within 21 days of receipt of a valid invoice. All other suppliers are paid within 28 days of receipt of a valid invoice, unless specific alternative terms have been agreed at the contracting stage. There has been no change to these terms during the reporting period. All invoices should be sent directly to the Finance Department at Dinorwig Power Station.
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
28 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes are notified to suppliers on receipt of invoice. Invoices are treated as valid and passed for payment within the timescales above when the issues have been resolved.
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