EDF / 2018 Reference document

5.

THE GROUP’S PERFORMANCE IN 2018 AND FINANCIAL OUTLOOK Operating and financial review

Principal forward electricity prices in Europe (baseload, year ahead)

75

70

65

60

55

50

€/MWh 45

40

35

30

25

Jul-18

Juil-17

Jan-17

Jan-18

Jun-17

Jun-18

Oct-18

Oct-17

Feb-17

Feb-18

Apr-17

Apr-18

Dec-18

Dec-17

Nov-18

Mar-17

Nov-17

Mar-18

Aug-17

Aug-18

May-17

May-18

Sept-17

Sept-18

Electricity - annual baseload contract France (EEX) Electricity - annual baseload contract Germany (EEX)

Electricity - 1-April annual contract ahead base UK (EDF Trading) Electricity - annual baseload contract Italy (EDF Trading)

5.1.2.1.3

CO 2

emission rights prices (1)

September 2017 after the agreement to reform the EU-ETS for the period 2021-2030, which was approved by the European Parliament in February 2018. This upward movement brought the return of many speculative actors who had

The price of CO 2

emission rights for delivery in December Y+1 ended the year at

€25.0/t, up by €16.8/t compared to December 2017. CO 2

prices rose almost

abandoned the CO 2

market, accentuating the trend and increasing market volatility.

constantly between January and early September, continuing the trend that began in

Average ICE prices for the annual contract, Phase III (2013-2020). (1)

282

EDF I Reference Document 2018