The average time taken by EDF ENERGY (THERMAL GENERATION) LIMITED to pay invoices has been fluctuating between 63 and 68 days over the past three periods, with a slight decrease in the latest period. The company has consistently paid a high percentage of invoices within 30 days, with a slight increase in the latest period. However, the percentage of invoices paid between 31 and 60 days has been decreasing gradually. The percentage of invoices paid later than 60 days has also seen a slight decrease in the latest period.
There has been a moderate level of volatility in the average time taken to pay invoices by EDF ENERGY (THERMAL GENERATION) LIMITED. The percentage of invoices paid within 30 days has remained relatively stable, while the percentage of invoices paid between 31 and 60 days has shown a decreasing trend. The percentage of invoices paid later than 60 days has also shown a slightly decreasing trend.
| 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 2023 - 30 Jun 2023 | 26 Jul 2023 | 54 | 11% | 81% | 8% | 11% |
| 01 Jul 2022 - 31 Dec 2022 | 12 Jan 2023 | 63 | 16% | 64% | 20% | 25% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Jul 2022 | 68 | 12% | 67% | 21% | 26% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 63 | 14% | 65% | 22% | 28% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 64 | 13% | 66% | 21% | 28% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 67 | 13% | 62% | 25% | 32% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 60 days from receipt of invoice. 60 days is also the maximum contractual payment period. By negotiation or other exception some suppliers are paid on terms less than 60 days. EDF Energy operates a process of paying twice each, week with some invoices paid slightly early and some slightly late. For example a payment made on Thursday will have invoices for Wednesday, Thursday, Friday and Saturday included with Wednesday being “late” but Friday and Saturday “early”. Over the supplier base and over time this averages out to zero days late for cases where there is no problem with the invoice. Across the UK business as a whole we have between 5 – 10% late payment on this basis. There have been no changes to the standard payment terms during this reporting period.
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
Suppliers must contact the individual named on the purchase order. After that a resolution is achieved based on the relevant provisions set out in the contract.
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
EDF Energy (Thermal Generation) Limited is a subsidiary of EDF Energy, a leading energy company in the UK. The company primarily focuses on the production of thermal energy, which involves generating electricity through the use of fossil fuels such as coal, oil, and gas.
One of the key priorities of EDF Energy (Thermal Generation) Limited is sustainability. The company is committed to reducing its carbon footprint and promoting renewable energy sources. It has set ambitious targets to reduce its carbon emissions and increase the use of renewable energy in its operations.
In addition to its sustainability efforts, EDF Energy (Thermal Generation) Limited offers a range of products and services to meet the energy needs of its customers. These include electricity and gas supply for homes and businesses, as well as energy management services to help customers use energy more efficiently.
The company is led by a team of key people, including its CEO, Simone Rossi, who has over 25 years of experience in the energy industry. Other key people include the Director of Generation, the Director of Finance, and the Director of Human Resources.
For more information on EDF Energy (Thermal Generation) Limited, including its sustainability program, products, and services, customers can visit their website at www.edfenergy.com. The company's registered office address is 40 Grosvenor Place, London, SW1X 7EN.
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