Southern Water to speed up payment times

Southern Water is looking at plans to help out suppliers by speeding up payment times during the current economic slowdown.

CJ understands the utilities giant is working on proposals to cut its standard payment time of 45 days for smaller contractors.

Commercial director Les Bond said: "We are conscious of the current environment for our suppliers and are looking at a number of initiatives to help them out.

"Our current payment time is 45 days and one thing we will be looking at is the possibility of reducing that while the economic downturn persists.

"We are looking at ways of helping our suppliers in these challenging times."