EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS

Notes to the consolidated financial statements

EDF’s Public Service Charges The amount of expenses (excluding the annual contribution to repayment and associated interest) to be compensated to EDF for 2020 is €8,081 million. The amounts received in 2020 (excluding the annual contribution to repayment and associated interest) totalled €7,732 million (including €5,333 million from the dedicated “energy transition” budget account and €2,399 million from the general budget). Based on a receivable of €1,647 million at 31 December 2019, the operating receivable owed by the State to EDF amounts to €1,974 million at 31 December 2020. The situation will be closely monitored in view of the initial Finance Law for 2020 adopted by vote in late 2019, which provides for discontinuation of the special “energy transition” budget item from January 2021.

Finally, in accordance with decree 2016-158 of 18 February 2016 concerning compensation for public energy service charges, on 17 July 2020 the CRE published its decision 2020-177 of 15 July 2020 setting out a forecast of EDF’s public service charges for 2021 (€8,104 million), a revised forecast of charges for 2020 (€8,122 million), and the actual charges recorded for 2019 (€7,585 million). The compensation mechanism for public energy service charges in France is presented in note 5.4.1.

13.4

Trade payables

31/12/2020

31/12/2019

(in millions of euros)

Trade payables – excluding EDF Trading

10,868

11,243

Trade payables – EDF Trading

1,032

1,624

TRADE PAYABLES

11,900

12,867

The Group has a reverse factoring programme allowing suppliers to transfer their receivables on EDF to a factoring company, at their own initiative.

For the Group, this programme does not cause any change in the substance and features of the receivables held by suppliers on EDF. In particular it does not affect the sequences of operating cash flows. The associated liabilities are therefore included in “trade payables” in the Group’s financial statements.

13.5

Other liabilities

Details of other liabilities are as follows:

Including contract liabilities

Including contract liabilities

31/12/2020

31/12/2019

(in millions of euros)

Advances and progress payments received

1,788 4,196 4,532 4,712 3,290

1,344

1,975 3,824 4,439 4,535 3,412

1,761

Liabilities related to property, plant and equipment

- - -

- - -

Tax liabilities Social charges

Deferred income on long-term contracts

3,233

3,412

Other deferred income*

827

430

641

509

Other

2,390

-

2,712

-

OTHER LIABILITIES Non-current portion

21,735

5,007 3,092 1,915

21,538

5,682 3,473 2,209

4,874

4,928

Current portion

16,861

16,610

Including the initial payment made under the Fessenheim compensation protocol (see note 5.4.3). *

13.5.1

Advances and progress

13.5.3

Deferred income on long-term contracts

payments received

EDF’s deferred income on long-term contracts at 31 December 2020 comprises €1,713 million (€1,709 million at 31 December 2019) of partner advances made to EDF under the nuclear plant financing plans. Deferred income on long-term contracts also includes an advance of €1.7 billion paid to the EDF group in 2010 under the agreement with the Exeltium consortium. This advance is transferred to the income statement progressively over the term of the contract (24 years).

Advances and progress payments received comprise €518 million of payments made by the customers in Framatome’s long-term contracts (€651 million at 31 December 2019). Tax liabilities 13.5.2 At 31 December 2020, tax liabilities mainly include an amount of €502 million for the CSPE to be collected by EDF on energy supplied but not yet billed, less the CSPE tax collected on advances from customers who pay in regular monthly instalments (€560 million at 31 December 2019).

359

EDF - UNIVERSAL REGISTRATION DOCUMENT 2020