EDF / 2019 Universal registration document

6. Financial statements Financial statements

Income statement

Note 4

Sales

Sales are comprised of:

2019

2018

(in millions of euros)

Sales of energy*

43,831 38,392

42,630 38,451

electricity

gas

5,439 2,324

4,178 2,244

Sales of services and other

SALES

46,155

44,874

Including a share of delivery costs for sales of electricity and gas. *

The increase in sales in 2019 is mainly due to favourable price effects reflecting the positive price movements on market-price offers and sales at regulated tariffs. For 96.4TWh in 2018) was more than offset by lower demand and a substantial the regulated tariffs, the price effect results from indexing of tariffs from decrease in sales on the markets, notably due to a decline in generation of nuclear 1 June 2019 (+7.7% on “blue” tariffs for residential and non-residential power (-12.8TWh) and hydropower (-5.8TWh). the increase in ARENH deliveries (120.4TWh subscribed in 2019 compared to

customers) and 1 August 2019 (+1.47% on “blue” tariffs for residential customers and +1.34% on “blue” tariffs for non-residential customers). Regarding volumes,

The increase in gas sales reflects a higher volume of sales with EDF Trading.

Note 5

Operating subsidies

2019

2018

(in millions of euros)

OPERATING SUBSIDIES

7,670

6,566

Operating subsidies mainly comprise the subsidy received or receivable by EDF in purchased volumes of photovoltaic power (+14%) and wind power (+13.8%), the respect of the CSPE, reflected in the financial statements through recognition of lower market prices for electricity observed in late 2019, and the increase in income of €7,662 million for 2019 (€6,554 million for 2018). The increase is mainly additional costs for energy purchases and generation in the non-interconnected explained by the higher subsidy for purchase obligations associated with the rise in island zones.

Note 6

Reversals of provisions and impairment

2019

Notes

2018

(in millions of euros)

Reversals of provisions for risks* Pensions and similar obligations

27 30 28 28 28

552 826 890 261 141

174 954 986 260 138

Spent fuel management

Long-term radioactive waste management Decommissioning of nuclear power plants

Decommissioning of fossil-fired and hydropower plants

35

35

Other provisions for expenses

187

113

Reversals of provisions for expenses

2,340

2,486

Reversals of impairment

387

336

TOTAL REVERSALS OF PROVISIONS AND IMPAIRMENT 2,996 Including in 2019 a reversal of €184 million corresponding to costs booked in 2018 on long-term regasification reservation contracts of GNL Dunkerque LNG. * 3,279

419

EDF | Universal registration document 2019