RWE RENEWABLES UK SWINDON LIMITED

Company number: 02550622

Reporting period:
1 January 2024 to 30 June 2024

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

This report was filed on 26 July 2024

and approved by Marcus Peters

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

within 30 days: 86%
in 31 to 60 days: 10%
in 61 days or more: 4%

Invoices due but not paid within agreed terms: 8%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

Standard payment terms for projects is 30 days from receipt of a valid invoice and 60 days for all other business areas. Variations are agreed for individual circumstances

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

60 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Invoices that cannot be validated are queried out to the business using an integrated workflow solution which is constantly monitored to ensure responses are received in the required timescales. Vendors contact a Shared Service Centre Help desk with any queries. A ticketing solution is used to monitor queries where the answer is not provided instantly.

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.

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?