NORTHERN IRELAND ELECTRICITY NETWORKS LIMITED

Company Details

Registration Number

NI026041

Registered Address

120 Malone Road Belfast BT9 5HT

Company Status

Active

Employee Count

1312

Turnover

£302,500,000

EBITDA

£210,800,000

Additional Information

Company Type

Private limited Company

Incorporated on

25 October 1991

Nature of Business (SIC)

35120 - Transmission of electricity

35130 - Distribution of electricity

Industries

0

Company Location

Google
Map data ©2025 Google
Map data ©2025 Google

Financial Overview

Cash

£77,900,000

Net Worth

£528,600,000

Last Reporting Period

Filed

01 Feb 2024

Period

01 Jul 2023 - 31 Dec 2023

Payment Timing

Average Time to Pay

47 days

Payment Periods

Shortest

45 days

Longest

0 days

Max Contractual

45 days

Payment Timeline

Within 30 days3%
31-60 days89%
After 60 days8%

Not Paid Within Terms

14%

Payment Features

Payment Codes
E-Invoicing
Supply Chain Finance

Payment Time Trends

12/31/20236/30/202312/31/20226/30/202212/31/20216/30/202112/31/20206/30/202012/31/20196/30/20196/30/2018015304560

Payment Distribution Trends

12/31/20236/30/202312/31/20226/30/202212/31/20216/30/202112/31/20206/30/202012/31/20196/30/20196/30/20180255075100

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202301 Feb 2024473%89%8%14%
01 Jan 2023 - 30 Jun 202327 Jul 2023486%85%9%17%
01 Jul 2022 - 31 Dec 202227 Jan 2023495%86%9%15%
01 Jan 2022 - 30 Jun 202228 Jul 2022495%86%9%17%
01 Jul 2021 - 31 Dec 202126 Jan 2022456%85%9%15%
01 Jan 2021 - 30 Jun 202128 Jul 2021445%86%9%15%
01 Jul 2020 - 31 Dec 202026 Jan 2021475%86%9%15%
01 Jan 2020 - 30 Jun 202029 Jul 2020467%85%8%19%
01 Jul 2019 - 31 Dec 201928 Jan 2020495%87%8%15%
01 Jan 2019 - 30 Jun 201910 Jul 2019485%87%8%16%
01 Jul 2018 - 31 Dec 201830 Jan 2019515%85%10%21%
01 Jan 2018 - 30 Jun 201827 Jul 2018564%82%14%47%

Company Summary

Northern Ireland Electricity Networks Limited (NIE Networks) is responsible for the management, maintenance, and development of the electricity network in Northern Ireland

As the largest electricity distribution company in Northern Ireland, NIE Networks is committed to providing reliable and sustainable electricity services to over 860,000 customers

NIE Networks has a strong focus on sustainability and has implemented various programs to reduce its environmental impact

These include initiatives to increase the use of renewable energy sources and decrease carbon emissions, as well as efforts to improve energy efficiency and reduce waste

The company also has a dedicated Sustainability Manager who oversees and drives these initiatives

In terms of products and services, NIE Networks offers a range of options for customers to manage their electricity usage, including online account management and the use of smart meters

The company also offers a Priority Services Register for vulnerable customers, ensuring they receive extra support during power outages

The key people at NIE Networks include the Managing Director, Paul Stapleton, who has over 30 years of experience in the electricity industry, and the Chairman, Dr

Stephen Kingon, who has a background in finance and business

NIE Networks can be contacted through their website, which provides information on power outages, customer support, and energy saving tips

Their registered office address is 120 Malone Road, Belfast, BT9 5HT, Northern Ireland

Overall, NIE Networks is a responsible and sustainable electricity distribution company, committed to providing reliable services to its customers while also minimizing its impact on the environment

Company Review

Trend Analysis

The average time taken for NORTHERN IRELAND ELECTRICITY NETWORKS LIMITED to pay invoices to suppliers has been gradually decreasing over the past three periods. In the first period, the average time to pay was 56 days, which decreased to 47 days in the most recent period. This suggests that the company has been making efforts to pay invoices to suppliers in a timely manner.

Volatility Analysis

The volatility in the percentage of invoices paid within 30 days has been relatively low, with a range of only 2%. However, the volatility in the percentage of invoices paid later than 60 days has been higher, with a range of 6%. This suggests that while the company has generally been paying invoices within 30 days, there have been fluctuations in the number of invoices that are paid late.

Summary Analysis

Overall, there has been a positive trend in the time taken for NORTHERN IRELAND ELECTRICITY NETWORKS LIMITED to pay invoices to suppliers. The percentage of invoices paid within 30 days has remained consistently high, ranging from 3% to 7%, while the percentage of invoices paid later than 60 days has remained low, ranging from 8% to 14%. Additionally, the average time to pay has decreased from 56 days to 47 days over the three periods.

Invoice Payment Practices

This information is as reported by the business, and responses are in their own words.

Payment Terms

Standard payment terms

NIE Networks' standard payment terms state that payment of third party invoices for goods or services will be made within 45 days of receipt of a correct, undisputed and properly due VAT invoice, unless otherwise agreed in writing by a duly authorised representative. Invoices should be submitted promptly to the correct address quoting a valid purchase order. The correct invoicing address, which is included on all purchase orders is: Northern Ireland Electricity Networks Ltd, PO Box 7787, Corby, NN17 9HA.

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

45

Dispute Resolution Process

NIE Networks' core values include being committed to our communities and acting with integrity. We therefore endeavour to resolve all disputes in a fair and timely manner. Queries regarding the status of an invoice can be directed to our Accounts Payable Team via the following email address; accountspayable@nienetworks.co.uk For specific contractual disputes please contact the individual who initially ordered the goods or services provided. The agreed contractual dispute process will then be followed.

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.

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.

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.

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?

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