ECOTRICITY LIMITED demonstrates a strong trend of prompt payments, with an average payment time of 23 days and 78% of invoices settled within 30 days. While 21% of payments are late, the majority of these fall into the 31-60 day bracket, indicating a consistent but sometimes extended payment trajectory for a minority of invoices. This suggests a generally efficient process, with a predictable tail of slightly delayed payments.
Payment reliability is high for the majority, but the 21% late payment rate introduces a degree of unpredictability for individual invoices. Suppliers can expect approximately 78% of payments within 30 days, but must account for a 17% chance of payment between 31 and 60 days. A minor risk factor exists with 5% of payments extending beyond 60 days, requiring closer monitoring for those specific instances.
Overall, ECOTRICITY LIMITED presents a generally favorable payment profile for suppliers, characterized by a low average payment time. Suppliers should factor in the 22% likelihood of payments extending beyond 30 days when setting cash flow expectations and consider terms that accommodate this. To mitigate risk, suppliers could implement a tiered follow-up process, especially for invoices approaching or exceeding the 30-day mark, to address the consistent but minor delay segment.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Nov 2018 - 30 Apr 2019 | 30 May 2019 | 23 | 78% | 17% | 5% | 21% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from invoice date
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Any queries raised by suppliers are reviewed initially by the AP team, working with business stakeholders as required, they will escalate to senior managers, if necessary, for guidance and resolution.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Ecotricity Limited is a private limited company operating within the electricity sector. Its name suggests a focus on environmentally conscious or ecological electricity.
The company is an active private limited company, incorporated on 7 April 1995 with company number 03043412. Its registered office is located at Lion House, Rowcroft, Stroud, England, GL5 3BY, situated within the South West region.
As a private limited company operating within the electricity sector, typical services and products in the UK market include the generation, distribution, and supply of electricity to consumers and businesses. Companies of this type may also engage in developing renewable energy sources or offering related energy solutions.