OVO S ELECTRICITY LIMITED
Company Information
- Company Number
- 04094263
- Registered Address
- 1 Rivergate Temple Quay, Bristol, England, BS1 6ED
- Status
- Active
- Employee Count
- 611
- Turnover
- £530,600,000
- EBITDA
- £351,200,000
Additional Details
- Website
- https://ovoenergy.com
- Company Type
- Private limited Company
- Incorporated On
- 23 October 2000
- Nature of Business
- 35130 - Distribution of electricity
- Industries
- Coming Soon
- Region
- South West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for OVO (S) ELECTRICITY LIMITED to pay invoices has decreased from 24 days in April 2020 to 21 days in June 2022, indicating a trend of improving promptness in payments. This is further supported by a decrease in the percentage of invoices paid later than 60 days from 4% in April 2020 to 1% in June 2022.
Volatility Analysis
The data for OVO (S) ELECTRICITY LIMITED shows a relatively stable trend in terms of promptness in payments. The average time taken to pay invoices has only fluctuated by 3 days, and the percentage of invoices paid within 30 days has remained consistently above 75%.
Performance Reports History
| 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 2022 - 30 Jun 2022 | 27 Jul 2022 | 21 | 94% | 5% | 1% | 9% |
| 01 Apr 2021 - 31 Dec 2021 | 26 Jan 2022 | 24 | 81% | 16% | 3% | 28% |
| 01 Oct 2020 - 31 Mar 2021 | 13 Jul 2021 | 26 | 75% | 20% | 4% | 72% |
| 01 Apr 2020 - 30 Sept 2020 | 13 Jul 2021 | 24 | 86% | 10% | 4% | 41% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Our standard payment terms are 30 days after receipt of invoice. We hold individual agreements with some of our suppliers for differing terms ranging from immediate to the standard 30 days, and also direct debit payments.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Dispute Resolution Process
The Company has a dedicated accounts payable team, which can be reached by Email or Phone. Suppliers with invoice queries need to contact this team, and if the accounts payables ream is not able to resolve they escalate the issue to the buyer associated with the invoice. Disputes are handled by a combination of the accounts payable team and the buyer’s department who placed the order, and will be escalated to senior management if it cannot be resolved satisfactorily.
Other Payment Information
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
OVO (S) ELECTRICITY LIMITED is a leading electricity supplier in the UK, offering sustainable energy solutions and services to its customers. The company was founded in 2009 with a mission to make energy greener and more affordable for all.
The sustainability program of OVO (S) ELECTRICITY LIMITED focuses on reducing carbon emissions and promoting renewable energy sources. They offer green electricity and gas tariffs, as well as carbon offsetting options for customers who want to reduce their carbon footprint. The company also invests in renewable energy projects and supports local communities through its sustainability initiatives.
OVO (S) ELECTRICITY LIMITED offers a range of products and services to its customers, including fixed and variable energy plans, smart meters, and online account management tools. They also have a range of electric vehicle charging solutions, including home chargers and public charging points.
The key people behind OVO (S) ELECTRICITY LIMITED include its founder and CEO, Stephen Fitzpatrick, who has a background in renewable energy, and its managing director, Chris Houghton, who has extensive experience in the energy industry.
The company can be contacted through their website, www.ovoenergy.com, where customers can also sign up for their services. The registered office address of OVO (S) ELECTRICITY LIMITED is 1 Rivergate, Temple Quay, Bristol, BS1 6ED. Overall, OVO (S) ELECTRICITY LIMITED is committed to providing sustainable energy solutions and empowering customers to make environmentally friendly choices.
