GOV.UK
CENTRICA PLC
Company number: 03033654
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 28 January 2021
and approved by Kate Ringrose
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 39%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 12 %
Payment terms
Shortest standard payment period
28 days
Longest standard payment period
60 days
Standard payment terms
We have standard payment terms of 60 days, but the procurement organisation allows for shorter payment terms for smaller suppliers during the contract negotiation process. Sub-contractors are typically paid within 28 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, purchase order number invoice number, invoice date and payment instructions, as well as the Centrica point of contact who requested the goods or services. Invoices should be issued electronically to centrica.jewel.live@boxit.co.uk Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.
Some suppliers have been moved to our standard 60 days terms (this excludes all sub-contractors)
Dispute resolution process
Any disputes the suppliers should contact their specific contact Accounts Payable Group Group.accountspayable@centrica.com. The Accounts Payable team will consider the complaint and respond accordingly. Should an escalation occur an email to apescalation@centrica.com should be sent and the AP team will respond.
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.Yes – Prompt Payment Code
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.
Yes
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.
Yes
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