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FIRST HYDRO COMPANY

Company number: 02444277

Reporting period:
1 July 2020 to 31 December 2020

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

This report was filed on 25 January 2021

and approved by Simon Pinnell

Payment statistics

Average time taken to pay invoices: 23 days

Invoices paid:

• within 30 days: 77%
• in 31 to 60 days: 11%
• in 61 days or more: 12%

Invoices due but not paid within agreed terms: 8 %

Payment terms

Standard payment period for qualifying contracts

21 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 and/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.

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

Maximum contractual payment period agreed

28 days

Any other information about payment terms

N/A

Dispute resolution process

Any disputes are notified to suppliers on receipt of the invoice and resolved with the support of the supplier as soon as possible.

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