RWE GENERATION UK PLC

Company number: 03892782

Reporting period:
1 January 2018 to 30 June 2018

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

This report was filed on 30 July 2018

and approved by Rebecca Wall

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

within 30 days: 35%
in 31 to 60 days: 58%
in 61 days or more: 7%

Invoices due but not paid within agreed terms: 26%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

Answer not provided

Standard payment terms

RWE Generation UK Plc shall pay the charges (excluding any disputed amounts) for trade suppliers within 60 days of receipt of an accurate and valid VAT Invoice, unless otherwise agreed with a trade supplier. An accurate and valid invoice is one that has been approved for payment and entered into the payment system.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

106 days

No further comment provided

Any other information about payment terms

Payment terms are subject to negotiation with the supplier or contractor and RWE's preferred payment terms are 60 days.

Dispute resolution process

Invoices that cannot be validated are queried out to the business. Vendors should contact the Shared Service Centre help desk in the first instance with any queries. A ticketing solution is used to monitor queries where the answer is not provided instantly. In case of queries relating to payments, vendors contact our Shared Service Centre to register under our Business dispute resolution process.

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, 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.

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.

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?