EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS Notes to the financial statements

Provisions related to nuclear generation – back-end Note 28

of the nuclear cycle, plant decommissioning and last cores

The provisions established by EDF for the nuclear generation fleet principally result from the Law of 28 June 2006 on long-term management of radioactive materials and waste, and the associated implementing provisions concerning secure financing of nuclear expenses. In compliance with the accounting principles described in note 1.15.1: EDF books provisions to cover all obligations related to the nuclear facilities it operates;

EDF also holds dedicated assets for secure financing of long-term obligations (see note 38). The calculation of provisions incorporates a level of risks and unknowns that depend on the operations concerned. The valuation of costs also carries uncertainty factors as described in note 1.2.2.

Details of changes in provisions for the back-end of the nuclear cycle, decommissioning and last cores are as follows:

Other changes (3)

Increases

Decreases

31/12/2020

31/12/2019

Operating (1)

Financial (2)

Utilisations (1) Reversals (1)

(in millions of euros)

Provisions for spent fuel management amount unrelated to the operating cycle ● amount outside the scope of ● the Law of 28 June 2006* Provisions for waste removal and conditioning Provisions for long-term radioactive waste management Provisions for the back-end of the nuclear cycle Provisions for the back-end of the nuclear cycle within the scope of the Law of 28 June 2006* Provisions for the back-end of the nuclear cycle outside the scope of the Law of 28 June 2006*

10,823

625

626 109

(744)

- -

(8)

11,322

1,152

65

(14)

(15)

1,297

1,019

41

51

(35)

-

-

1,076

805

6

46

(25)

-

(832)

-

10,531

101

1,016

(221)

-

1,873 13,300

22,159

732

1,688

(990)

-

1,033 24,622

21,140

691

1,637

(955)

-

1,033 23,546

1,019

41

51

(35)

-

-

1,076

Provisions for nuclear plant decommissioning Provisions for last cores

16,937

133

780

(157)

(24)

(180)

17,489

2,624

-

94

(99)

-

92

2,711

Provisions for decommissioning and last cores TOTAL PROVISIONS RELATED TO NUCLEAR GENERATION Provisions related to nuclear generation within the scope of the Law of 28 June 2006* Provisions related to nuclear generation outside the scope of the Law of 28 June 2006*

19,561

133

874

(256)

(24)

(88)

20,200

41,720

865

2,562

(1,246)

(24)

945 44,822

40,701

824

2,511

(1,211)

(24)

945 43,746

1,019 1,076 Scope of application of the law of 28 June 2006 on the sustainable management of radioactive materials and waste and its application concerning secure * financing of nuclear expenses. The provisions that do not fall within the scope of this law are provisions for the back-end of the nuclear cycle concerning non-EDF installations (see below). See notes 6 and 11.2. (1) The discount effect comprises the €1,520 million cost of unwinding the discount, and the effects of the change of real discount rate in 2020, recognised via the (2) income statement for provisions with no related assets (€1,042 million) (cost of unwinding the discount). Other changes mainly include: (3) the effects of the change of real discount rate at 31 December 2020 for provisions with related assets (€707 million); reclassification of €841 million previously included in provisions for waste removal and conditioning and €813 million previously included in provisions for nuclear plant decommissioning (corresponding to the cost of interim storage and processing of steam generators in a centralised facility) as provisions for long-term radioactive waste management, to ensure consistency with the most recent official breakdown of nuclear expenses in defined operations attached to the amended ministerial order of 21 March 2007 on secure financing of nuclear expenses. 41 51 (35) - -

461

EDF - UNIVERSAL REGISTRATION DOCUMENT 2020