EDF_REGISTRATION_DOCUMENT_2017

6.

FINANCIAL STATEMENTS Cash flows and other information

OFF-BALANCE SHEET COMMITMENTS NOTE 44

This note presents off-balance sheet commitments given and received by the Group at 31 December 2017. The amounts of commitments correspond to non-discounted contractual values.

44.1

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.

Notes 44.1.1 44.1.2 44.1.3

31/12/2017

31/12/2016

(in millions of euros)

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

44,705 17,222 5,123 67,050

46,560 18,605 5,535 70,700

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 44.1.1 Operating commitments given by the Group at 31 December 2017 are as follows:

31/12/2017

31/12/2016

(in millions of euros)

Fuel and energy purchase commitments (1)

26,728 13,739 4,238 44,705

32,669 10,260 3,631 46,560

Operating contract performance commitments given Operating lease commitments as lessee TOTAL OPERATING COMMITMENTS GIVEN Excluding gas purchases and related services. (1)

Fuel and energy purchase commitments 44.1.1.1 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 2017, fuel and energy purchase commitments mature as follows:

31/12/2017 31/12/2016

Maturity

Total 9,767

< 1 year

1-5 years 5-10 years > 10 years

Total 9,267

(in millions of euros)

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

1,601

3,310

2,274

2,582

391

83

213

95

-

662

Nuclear fuel purchases

16,570 26,728

1,414 3,098

6,151 9,674

5,285 7,654

3,720 6,302

22,740

FUEL AND ENERGY PURCHASE COMMITMENTS 32,669 Including commitments given by controlled entities to joint ventures, amounting to €606 million at 31 December 2017 (€643 million at 31 December 2016). (1) Excluding gas purchases and related services – see note 44.1.1.1.4. (2)

The decrease in fuel and energy purchases mainly relates to the portion of intragroup commitments following the acquisition of Framatome, and the decline in EDF’s nuclear fuel purchase commitments. 44.1.1.1.1 Electricity purchases and related services 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 47TWh for 2017 (43TWh for 2016), including 6TWh for co-generation (6TWh for 2016), 23TWh for wind power (20TWh for 2016), 9TWh for photovoltaic power (8TWh for 2016) and 3TWh for hydropower (3TWh for 2016). 44.1.1.1.2 Other energy and commodity purchases Purchase commitments for other energies and commodities mainly concern coal and oil used to operate the fossil-fired plants, and purchases of biomass fuel used by Dalkia in the course of its business.

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EDF I Reference Document 2017