CENTRICA ENERGY STORAGE LIMITED
Company number: 03294124
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
26 July 2024
Approved by:
Trine Thomsen
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 57%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms are 60 days with small suppliers being 30 days in line with NSTA prompt payment code. We have special arrangements with several suppliers reflecting the requirements of Centrica Energy Storage’s business and the suppliers we deal with.
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
60 days
Aligned to Group payment terms of 60 Days.
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 Energy Storage point of contact. Invoices should be issued electronically to accountspayable@centrica-sl.co.uk. Suppliers still submitting physical invoices are being encouraged to submit these electronically. Invoices that do not align with this standard will not be accepted and will be returned for amendment.
Dispute resolution process
For any disputes the suppliers should contact the Centrica Energy Storage Accounts Payable team. The Accounts Payable team will consider the complaint and respond accordingly.
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