EDF / 2019 Universal registration document

6. Financial statements

Notes to the consolidated financial statements

Off-balance sheet commitments Note 49

This note presents off-balance sheet commitments given and received by the Group at 31 December 2019. The amounts of commitments correspond to non-discounted contractual values.

49.1

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.

31/12/2019

Notes

31/12/2018

(in millions of euros)

49.1.1 49.1.2 49.1.3

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

41,110 18,237

45,370 17,572

6,343

5,494

65,690

68,436

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 49.1.1

Operating commitments given by the Group at 31 December 2019 are as follows:

31/12/2019

31/12/2018

(in millions of euros)

Fuel and energy purchase commitments*

25,373 15,248

26,878 14,117

Operating contract performance commitments given Operating lease commitments as lessee TOTAL OPERATING COMMITMENTS GIVEN

489

4,375

41,110

45,370

Excluding gas purchases and related services. *

Fuel and energy purchase commitments 49.1.1.1 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 2019, fuel and energy purchase commitments mature as follows:

31/12/2019

31/12/2018

Maturity

Total

Total

< 1 year

1-5 years

5-10 years

> 10 years

(in millions of euros)

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

9,999

2,305

3,614

2,157

1,923

10,368

281

62

144

75

-

377

Nuclear fuel purchases

15,093 25,373

1,580 3,947

6,142 9,900

4,771 7,003

2,600 4,523

16,133

FUEL AND ENERGY PURCHASE COMMITMENTS 26,878 Including commitments given by controlled entities to joint ventures, amounting to €569 million at 31 December 2019 (€604 million at 31 December 2018). (1) Excluding gas purchases and related services – see note 49.1.1.1.4. (2)

Electricity purchases and related services 49.1.1.1.1 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 57TWh for 2019 (53TWh for 2018), including 7TWh for co-generation (7TWh for 2018), 30TWh for wind power (26TWh for 2018), 11TWh for photovoltaic power (9TWh for 2018) and 3TWh for

hydropower (3TWh for 2018).

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EDF | Universal registration document 2019

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