Industry ranking
The data shows that the average time taken for EGGBOROUGH POWER LIMITED to pay invoices has decreased over the past three periods. In the first period (Jan 2018 - Jun 2018), the average time was 52 days, which decreased to 48 days in the second period (Jul 2018 - Dec 2018). However, it increased in the third period (Jan 2019 - Jun 2019) to 56 days, before significantly decreasing to 30 days in the latest period (Jul 2019 - Dec 2019).
The data also shows that there has been significant volatility in the percentage of invoices paid within 30 days. In the first period, only 24% of invoices were paid within 30 days, which increased to 30% in the second period, before decreasing again to 26% in the third period. However, there was a sharp increase in the latest period, with 61% of invoices being paid within 30 days.
In the latest period (Jul 2019 - Dec 2019), EGGBOROUGH POWER LIMITED had an average time to pay of 30 days. This is a significant improvement compared to the first period (Jan 2018 - Jun 2018) where the average time was 52 days. The percentage of invoices paid within 30 days also increased from 24% to 61% in the latest period. However, there is still room for improvement as 27% of invoices were paid later than 60 days.
| 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 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 30 | 61% | 36% | 3% | 20% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 56 | 26% | 47% | 27% | 53% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 48 | 21% | 63% | 17% | 47% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 48 | 30% | 52% | 18% | 47% |
| 01 Jan 2018 - 30 Jun 2018 | 23 Jul 2018 | 52 | 24% | 51% | 25% | 51% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
EPL’s standard payment terms are 30 and 60 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Invoices outside of the contract process are paid on purchase order default 30 day payment terms as per T&Cs.
Maximum contractual payment period agreed
60
Disputes with suppliers are dealt with on a case by case basis. EPL try to resolve these in a manner that suits all parties. The procedure is specified with each individual contract. Although there is no timeframe for the resolution of the dispute all steps are taken to remedy queries as soon as possible.
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
Eggborough Power Limited owns the Eggborough power station site near Selby in North Yorkshire, previously operated as a coal-fired plant. The company has been developing plans to replace this with a new gas-fired combined cycle gas turbine (CCGT) power station on the same site, with a gross output capacity of up to 2,500 megawatts, sufficient to supply around 2 million homes. It submitted a Development Consent Order application in 2017, which was granted by the Secretary of State in 2018. The project also involves a new underground gas pipeline and electrical connections to the existing substation. Any construction is subject to a final investment decision by the company.
Generated from the company's website and Companies House records. Sources: eggboroughccgt.co.uk