From 2018 to 2021, there has been a consistent decrease in the average time taken for NORTHERN GAS NETWORKS LIMITED to pay invoices to suppliers. The percentage of invoices paid within 30 days has also increased over this period. However, there has been a slight increase in the percentage of invoices paid between 31 and 60 days in 2021 compared to 2020.
The volatility in the data for NORTHERN GAS NETWORKS LIMITED is fairly low as there are no major fluctuations in the average time taken to pay invoices or the percentage of invoices paid within 30 days. However, there is a slight increase in the volatility of the percentage of invoices paid between 31 and 60 days in 2021.
Between April 2018 and September 2020, NORTHERN GAS NETWORKS LIMITED consistently reduced their average time to pay invoices and increased the percentage of invoices paid within 30 days. The best period during this time was April-September 2020, where 85% of invoices were paid within 30 days and only 10% were paid between 31 and 60 days. In contrast, the worst period was April-September 2018, where 16% 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 Apr 2023 - 30 Sept 2023 | 19 Oct 2023 | |||||
| 01 Oct 2022 - 31 Mar 2023 | 20 Apr 2023 | |||||
| 01 Apr 2022 - 30 Sept 2022 | 25 Oct 2022 | |||||
| 01 Oct 2021 - 31 Mar 2022 | 26 Apr 2022 | |||||
| 01 Apr 2021 - 30 Sept 2021 | 22 Oct 2021 | |||||
| 01 Oct 2020 - 31 Mar 2021 | 27 Apr 2021 | |||||
| 01 Apr 2020 - 30 Sept 2020 | 19 Oct 2020 | |||||
| 01 Oct 2019 - 31 Mar 2020 | 24 Apr 2020 | |||||
| 01 Apr 2019 - 30 Sept 2019 | 24 Oct 2019 | 5 | 75% | 19% | 6% | 25% |
| 01 Oct 2018 - 31 Mar 2019 | 26 Apr 2019 | 15 | 85% | 5% | 10% | 52% |
| 01 Apr 2018 - 30 Sept 2018 | 26 Oct 2018 | 20 | 79% | 5% | 16% | 37% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 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
N/A
Maximum contractual payment period agreed
30
Suppliers are contacted if there is a dispute with their invoice or PO, or a mismatch of quantity or standard of goods/services received. This query would be handled by either the requisitioner or the accounts payable team, or a combination of both. A report is issued twice a week to promote resolution of the query. If the dispute is ongoing it is escalated to a senior member of the finance team.
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
Northern Gas Networks Limited is a gas distribution company that operates in the North of England, serving around 2.7 million customers. The company is committed to sustainability and has implemented several initiatives to reduce its carbon footprint.
One of the key activities of Northern Gas Networks is the distribution of gas to homes and businesses in the North of England. They are responsible for maintaining and upgrading the gas network, ensuring a safe and reliable supply of gas to their customers.
The company also has a strong sustainability program in place, with a focus on reducing emissions and promoting renewable energy sources. They have invested in low carbon technologies and are working towards a goal of net-zero emissions by 2050.
Northern Gas Networks offers a range of products and services to its customers, including gas connections, meter installations, and emergency response services. They also provide energy efficiency advice and support to help customers reduce their energy consumption.
Key people in the company include Chief Executive Officer Mark Horsley and Chairman John Cuthbert. They are supported by a team of experienced professionals who are dedicated to providing high-quality services to their customers.
For more information on Northern Gas Networks Limited, their website address is https://www.northerngasnetworks.co.uk/. Their registered office address is 1100 Century Way, Thorpe Park Business Park, Leeds, LS15 8TU, United Kingdom. Customers can also contact them through their customer service helpline on 0800 040 7766.