Score of 94.5/100 qualifies for PaymentCheck Certification
The data for Centrica Energy Marketing Limited shows a trend of improving payment times over the past three periods. The average time to pay has decreased from 19 days in the period of July 2018 to December 2018 to 9 days in the period of January 2019 to June 2019. This trend continues with the average time to pay increasing slightly to 12 days in the period of January 2020 to June 2020. However, the data for the later periods is missing, so it is difficult to determine the overall trend.
The data for Centrica Energy Marketing Limited shows a low level of volatility in payment times. The percentage of invoices paid within 30 days has consistently been above 90% in the past three periods, with a slight increase from 93% in the period of January 2019 to June 2019 to 95% in the period of July 2019 to December 2019. The percentage of invoices paid between 31 and 60 days has also remained low, with a decrease from 7% in the period of January 2019 to June 2019 to 4% in the period of July 2019 to December 2019. However, the percentage of invoices paid later than 60 days has increased from 0% in the period of January 2019 to June 2019 to 1% in the period of July 2019 to December 2019.
In the past three periods, Centrica Energy Marketing Limited has shown an improvement in payment times, with the average time to pay decreasing from 19 days to 9 days. The percentage of invoices paid within 30 days has consistently been high, with a slight increase from 93% to 95%. The percentage of invoices paid between 31 and 60 days has also remained low, with a decrease from 7% to 4%. However, there has been a slight increase in the percentage of invoices paid later than 60 days, from 0% to 1%. The data for later periods is missing, so it is difficult to determine any further changes or trends.
| 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 2023 - 31 Dec 2023 | 26 Jan 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 27 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 12 | 93% | 2% | 5% | 11% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 9 | 95% | 4% | 1% | 12% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 10 | 93% | 7% | 0% | 10% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 19 | 81% | 14% | 5% | 9% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We have standard payment terms of 42 days, but the procurement organisation allows for shorter payment terms for smaller suppliers during the contract negotiation process.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, purchase order number (if applicable) invoice number, invoice date and payment instructions, as well as the Centrica point of contact who requested the goods or services.
Maximum contractual payment period agreed
60
Any disputes the suppliers should contact their specific contact within Accounts Payable Group. The Accounts Payable team will consider the complaint and respond accordingly.
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
Centrica Energy Marketing Limited is a British energy company that operates in the electricity and gas markets. The company is a subsidiary of Centrica plc, one of the largest energy suppliers in the UK. It provides a wide range of products and services to both residential and business customers.
The company's main activities include supplying electricity and gas to its customers, as well as trading energy in the wholesale market. It also offers energy management services, such as energy efficiency advice and renewable energy solutions, to help its customers reduce their carbon footprint.
Centrica Energy Marketing Limited is committed to sustainability and has implemented various initiatives to reduce its environmental impact. It has set ambitious targets to reduce its carbon emissions, increase the use of renewable energy, and improve energy efficiency. The company also supports local communities through various initiatives, such as providing energy education to schools and supporting local charities.
The key people at Centrica Energy Marketing Limited include its Managing Director, Sarah Vaughan, and its Chief Financial Officer, Paul Ringham. The company has a team of experienced professionals who are dedicated to providing quality products and services to its customers.
For customer inquiries, Centrica Energy Marketing Limited can be contacted through its website or by phone. The company's registered office address is Millstream, Maidenhead Road, Windsor, Berkshire, SL4 5GD. Its website address is www.centrica.com. Overall, Centrica Energy Marketing Limited is a leading energy company in the UK, offering sustainable solutions to its customers while also prioritizing corporate responsibility.
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