Energy Sector Payment Performance: Barely Budging - 2022 Edges Up 0.1 Points

The Comparison

Here's a look at the payment performance data from the energy sector, comparing 2021 and 2022:

• 2021: Analysis encompassed 202 energy companies, yielding an average payment performance score of 77.1 out of 100.
• 2022: The study included 190 companies, resulting in an average payment performance score of 77.2 out of 100.

What This Means

The energy sector saw a minuscule improvement in payment practices between 2021 and 2022. With an increase of just 0.1 points, the change in average payment performance is statistically insignificant, indicating a sector largely maintaining the status quo. Factors contributing to the slow rate of change could include pre-existing payment agreements, the complex nature of energy contracts and supply chains, or the enduring impact of economic pressures.

While overall improvement is almost negligible, individual company data may show more substantial improvements or declines. Companies looking to understand their position relative to competitors, or to improve their internal payment performance, can find a useful resource with a late payment calculator.

In 2022, the energy sector managed an average payment score of 77.2 out of 100, just 0.1 points higher than the 77.1 average achieved in 2021.