EDF / 2019 Universal registration document

6. Financial statements

Notes to the consolidated financial statements

Analyses of sensitivity to macro-economic assumptions 32.1.5.2 Sensitivity to assumptions concerning costs, inflation rate, long-term discount rate, and disbursement schedules can be estimated through comparison of the gross amount estimated under year-end economic conditions with the present value of the amount.

31/12/2019

31/12/2018

Costs based on year-end economic conditions

Costs based on year-end economic conditions

Amounts in provisions at present value

Amounts in provisions at present value

(in millions of euros)

Spent fuel management

19,455

10,823

18,737

10,698

Waste removal and conditioning

1,243

805

1,194

751

Long-term radioactive waste management BACK-END NUCLEAR CYCLE EXPENSES Decommissioning of nuclear plants in operation Decommissioning of shut-down nuclear plants

32,372 53,070 21,134

10,531 22,159 13,244

30,970 50,901 20,755

9,846

21,295 12,480

6,428 4,331

3,693 2,624

6,576 4,346

3,505 2,526

Last cores

DECOMMISSIONING AND LAST CORE EXPENSES

31,893

19,561

31,677

18,511

This approach can be complemented by estimating the impact of a change in the discount rate on the present value.

In application of Article 11 of the Decree of 23 February 2007, the following table reports these details for the main components of provisions for the back-end of the nuclear cycle, decommissioning of nuclear plants and last cores:

AT 31 DECEMBER 2019

Sensitivity to discount rate

Amounts in provisions at present value

Balance sheet provisions

Pre-tax net income

+0.20%

-0.20% +0.20%

-0.20%

(in millions of euros)

Back-end nuclear cycle expenses: spent fuel management ■ waste removal and conditioning ■

10,823

(228)

249

196

(215)

805

(25)

27

16

(17)

long-term radioactive waste management ■ Decommissioning and last core expenses: decommissioning of nuclear plants in operation ■ decommissioning of shut-down nuclear plants ■

10,531

(659)

750

554

(636)

13,244

(506) (139)

529 150

7

(7)

3,693 2,624

139

(150)

last cores ■

(88)

94

-

-

TOTAL

41,720

(1,645)

1,799

912

(1,025)

AT 31 DECEMBER 2018

Sensitivity to discount rate

Amounts in provisions at present value

Balance sheet provisions

Pre-tax net income

+0.20%

-0.20% +0.20%

-0.20%

(in millions of euros)

Back-end nuclear cycle expenses: spent fuel management ■ waste removal and conditioning ■

10,698

(218)

237

185

(202)

751

(23)

25

14

(15)

long-term radioactive waste management ■ Decommissioning and last core expenses: decommissioning of nuclear plants in operation ■ decommissioning of shut-down nuclear plants ■

9,846

(597)

780

498

(673)

12,480

(496) (138)

520 149

7

(7)

3,505 2,526

138

(149)

last cores ■

(88)

94

-

-

TOTAL

39,806

(1,560)

1,805

842

(1,046)

348

EDF | Universal registration document 2019

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