EDF / 2018 Reference document

FINANCIAL STATEMENTS Cash flows and other information

OFF-BALANCE SHEET COMMITMENTS NOTE 46

This note presents off-balance sheet commitments given and received by the Group at 31 December 2018. The amounts of commitments correspond to non-discounted contractual values.

46.1

COMMITMENTS GIVEN

The table below shows off-balance sheet commitments given by the Group that have been valued. Other commitments are described separately in the detailed notes.

Notes 46.1.1 46.1.2 46.1.3

31/12/2018

31/12/2017

(in millions of euros)

Operating commitments given Investment commitments given Financing commitments given TOTAL COMMITMENTS GIVEN

45,370 17,572 5,494 68,436

44,705 17,222 5,123 67,050

In almost all cases, these are reciprocal commitments, and the third parties concerned are under a contractual obligation to supply the Group with assets or services related to operating, investment and financing activities.

Operating commitments given 46.1.1 Operating commitments given by the Group at 31 December 2018 are as follows:

6.

31/12/2018

31/12/2017

(in millions of euros)

Fuel and energy purchase commitments (1)

26,878 14,117 4,375 45,370

26,728 13,739 4,238 44,705

Operating contract performance commitments given Operating lease commitments as lessee TOTAL OPERATING COMMITMENTS GIVEN Excluding gas purchases and related services. (1)

Fuel and energy purchase commitments 46.1.1.1 In the course of its ordinary generation and supply activities, the Group has entered into long-term contracts for purchases of electricity, gas, other energies and commodities and nuclear fuel, for periods of up to 20 years.

The Group has also entered into long-term purchase contracts with a certain number of electricity producers, by contributing to the financing of power plants.

At 31 December 2018, fuel and energy purchase commitments mature as follows:

31/12/2018

31/12/2017

Maturity

< 1 year

1-5 years 5-10 years > 10 years

Total 9,767

Total

(in millions of euros)

Electricity purchases and related services (1) Other energy and commodity purchases (2)

10,368

2,077

3,571

2,319

2,401

377

94

194

89

-

391

Nuclear fuel purchases

16,133 26,878

1,469 3,640

6,232 9,997

5,148 7,556

3,284 5,685

16,570

FUEL AND ENERGY PURCHASE COMMITMENTS 26,728 Including commitments given by controlled entities to joint ventures, amounting to €604 million at 31 December 2018 (€606 million at 31 December 2017). (1) Excluding gas purchases and related services – see note 46.1.1.1.4. (2)

Electricity purchases and related services 46.1.1.1.1 Electricity purchase commitments mainly concern EDF and EDF Energy. In the case of EDF many of these commitments are borne by the Island Energy Systems (SEI), which have made commitments to purchase the electricity generated using bagasse and coal. In addition to the obligations reported above and under Article 10 of the Law of 10 February 2000, in mainland France EDF is obliged, at the producer’s request and subject to compliance with certain technical features, to purchase the power produced by co-generation plants and renewable energy generation units (wind turbines, small hydro-electric plants, photovoltaic power, etc). The additional costs

generated by this obligation are offset, after validation by the CRE, by the CSPE. These purchase obligations total 53TWh for 2018 (47TWh for 2017), including 7TWh for co-generation (6TWh for 2017), 26TWh for wind power (23TWh for 2017), 9TWh for photovoltaic power (9TWh for 2017) and 3TWh for hydropower (3TWh for 2017). Other energy and commodity purchases 46.1.1.1.2 Purchase commitments for other energies and commodities mainly concern coal and oil used to operate the fossil-fired plants, and purchases of biomass fuel used by Dalkia in the course of its business.

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EDF I Reference Document 2018