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NORTHERN POWERGRID METERING LIMITED

Company number: 07647856

Reporting period:
1 July 2021 to 31 December 2021

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

This report was filed on 28 January 2022

and approved by Stephen Lockwood

Payment statistics

Average time taken to pay invoices: 34 days

Invoices paid:

• within 30 days: 41%
• in 31 to 60 days: 58%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 12 %

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

None

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