Energy Payment Trends: 2022 vs 2023
Energy Sector Payment Practices Improve Marginally: Average Score Rises From 77.2 to 78.7
The Comparison
Here's a snapshot comparing payment practices in the energy sector across 2022 and 2023:
- Companies Assessed: 2022: 190 companies; 2023: 187 companies. The number of firms included in the analysis remained broadly consistent year-on-year, providing a solid basis for comparison.
- Average Payment Score: 2022: 77.2/100; 2023: 78.7/100. This metric indicates an improvement in overall payment performance within the sector.
- Year-on-Year Change: Improved by 1.5 points. The increase, while positive, represents a small shift in payment behavior.
What This Means
The data suggests a minor positive trend in payment practices within the energy sector. A score of 78.7 still leaves room for improvement, and businesses should assess the impact of late payments on their financial health, for which they can use this late payment calculator. The marginal shift suggests that systemic challenges related to payment timeliness persist despite the slight gain.
In 2023, the energy sector payment score averaged 78.7 out of 100, a modest increase from 77.2 in 2022.
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