Industry ranking
| 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 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 52 | 10% | 25% | 65% | 24% |
| 01 Jan 2020 - 30 Jun 2020 | 07 Aug 2020 | 52 | 10% | 22% | 68% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our shortest standard terms are associated with purchases of biomass which is used in the electricity generation process, these are with a number of different suppliers but are contractually payable between 5 and 10 business days. Our standard terms for suppliers which the majority of our suppliers are setup are the longest. These terms are net monthly account + 30 days from invoice date, therefore actually payment ranges from 60 to 90 days depending on when the invoice is dated within the month.
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
90
Disputes are usually considered when they are raised by the supplier, any dispute is firstly handled by the finance department and then referred to the procurement department if the dispute remains. When a new supplier is setup on our system they are required to sign off a supplier form which details address, account details and standard payment terms which they will be paid under. These are referred to when any disputes are raised and are quoted on purchase orders when they are sent out to suppliers.
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
Lynemouth Power Limited is registered to operate Lynemouth Power Station in Northumberland, generating electricity, per its SIC classification of production of electricity. It forms part of the wider TTEP UK&I Investments group, itself the UK and Ireland division of TTEP, a partnership between TotalEnergies and EPH that owns, operates, constructs and develops power and energy assets including several power stations across the UK and Ireland. The group's portfolio spans flexible energy and biomass generation, with capital investment in technologies such as combined heat and power, battery storage and combined cycle gas turbines. This entity's own role is that of the operating company for the Lynemouth site within that broader group structure.
Generated from the company's website and Companies House records. Sources: lynemouthpower.com