At 31 December 2019, property, plant and equipment in progress owned by the Group mainly concerns investments for the EPR reactors at Flamanville 3 (€13,653 million including capitalised borrowing costs of €3,028 million), and Hinkley Point C (€10,942 million including capitalised borrowing costs of €318 million).
The capitalised value of the Flamanville 3 EPR project in the financial statements at 31 December 2019 is €10,833 million excluding borrowing costs (€10,645 million in property, plant and equipment in progress and €188 million(1) in property, plant and equipment in operation). This includes the following, in addition to the construction cost:
giving a construction cost at historical value of €9,800 million in the consolidated financial statements at 31 December 2019, and a construction cost at completion (excluding borrowing costs) of £12.4 billion (in 2015 euros), as announced on 9 October 2019.
Property, plant and equipment in progress increased by €4,378 million as the level of investment in 2019 was significantly higher than the amount of assets brought into service during the year (see note 25.2). Investments in property, plant and equipment and intangible assets during 2019 mainly concern:
(1) €252 million gross, less €64 million of depreciation.
(in millions of euros) | Land and buildings | Nuclear power plants | Fossil-fired & hydropower plants | Other installations, plant, machinery, equipment & other | Total |
---|---|---|---|---|---|
Gross value at 31/12/2018 | Gross value at 31/12/2018 Land and buildings 12,968 | Gross value at 31/12/2018 Nuclear power plants 71,390 | Gross value at 31/12/2018 Fossil-fired & hydropower plants 19,445 | Gross value at 31/12/2018 Other installations, plant, machinery, equipment & other 19,354 | Gross value at 31/12/2018 Total 123,157 |
Increases | Increases Land and buildings 824 | Increases Nuclear power plants 3,999 | Increases Fossil-fired & hydropower plants 394 | Increases Other installations, plant, machinery, equipment & other 2,375 | Increases Total 7,592 |
Decreases | Decreases Land and buildings (76) | Decreases Nuclear power plants (1,225) | Decreases Fossil-fired & hydropower plants (127) | Decreases Other installations, plant, machinery, equipment & other (447) | Decreases Total (1,875) |
Translation adjustments | Translation adjustments Land and buildings 52 | Translation adjustments Nuclear power plants 563 | Translation adjustments Fossil-fired & hydropower plants 162 | Translation adjustments Other installations, plant, machinery, equipment & other 293 | Translation adjustments Total 1,070 |
Changes in the scope of consolidation(1) | Changes in the scope of consolidation (1)Land and buildings 26 | Changes in the scope of consolidation (1)Nuclear power plants - | Changes in the scope of consolidation (1)Fossil-fired & hydropower plants (1,419) | Changes in the scope of consolidation (1)Other installations, plant, machinery, equipment & other (178) | Changes in the scope of consolidation (1)Total (1,571) |
Other movements(2) | Other movements (2)Land and buildings 3 | Other movements (2)Nuclear power plants 486 | Other movements (2)Fossil-fired & hydropower plants 31 | Other movements (2)Other installations, plant, machinery, equipment & other (81) | Other movements (2)Total 439 |
GROSS VALUE AT 31/12/2019 | GROSS VALUE AT 31/12/2019 Land and buildings 13,797 | GROSS VALUE AT 31/12/2019 Nuclear power plants 75,213 | GROSS VALUE AT 31/12/2019 Fossil-fired & hydropower plants 18,486 | GROSS VALUE AT 31/12/2019 Other installations, plant, machinery, equipment & other 21,316 | GROSS VALUE AT 31/12/2019 Total 128,812 |
Depreciation and impairment at 31/12/2018 | Depreciation and impairment at 31/12/2018 Land and buildings (7,191) | Depreciation and impairment at 31/12/2018 Nuclear power plants (47,224) | Depreciation and impairment at 31/12/2018 Fossil-fired & hydropower plants (12,599) | Depreciation and impairment at 31/12/2018 Other installations, plant, machinery, equipment & other (8,364) | Depreciation and impairment at 31/12/2018 Total (75,378) |
Net depreciation | Net depreciation Land and buildings (350) | Net depreciation Nuclear power plants (3,115) | Net depreciation Fossil-fired & hydropower plants (609) | Net depreciation Other installations, plant, machinery, equipment & other (1,286) | Net depreciation Total (5,360) |
Impairment net of reversals | Impairment net of reversals Land and buildings (23) | Impairment net of reversals Nuclear power plants - | Impairment net of reversals Fossil-fired & hydropower plants (131) | Impairment net of reversals Other installations, plant, machinery, equipment & other (110) | Impairment net of reversals Total (264) |
Disposals | Disposals Land and buildings 59 | Disposals Nuclear power plants 1,129 | Disposals Fossil-fired & hydropower plants 122 | Disposals Other installations, plant, machinery, equipment & other 403 | Disposals Total 1,713 |
Translation adjustments | Translation adjustments Land and buildings (7) | Translation adjustments Nuclear power plants (290) | Translation adjustments Fossil-fired & hydropower plants (151) | Translation adjustments Other installations, plant, machinery, equipment & other (106) | Translation adjustments Total (554) |
Changes in the scope of consolidation(1) | Changes in the scope of consolidation (1)Land and buildings (8) | Changes in the scope of consolidation (1)Nuclear power plants - | Changes in the scope of consolidation (1)Fossil-fired & hydropower plants 630 | Changes in the scope of consolidation (1)Other installations, plant, machinery, equipment & other 149 | Changes in the scope of consolidation (1)Total 771 |
Other movements(2) | Other movements (2)Land and buildings 2 | Other movements (2)Nuclear power plants 155 | Other movements (2)Fossil-fired & hydropower plants (27) | Other movements (2)Other installations, plant, machinery, equipment & other 141 | Other movements (2)Total 271 |
DEPRECIATION AND IMPAIRMENT AT 31/12/2019 | DEPRECIATION AND IMPAIRMENT AT 31/12/2019 Land and buildings (7,518) | DEPRECIATION AND IMPAIRMENT AT 31/12/2019 Nuclear power plants (49,345) | DEPRECIATION AND IMPAIRMENT AT 31/12/2019 Fossil-fired & hydropower plants (12,765) | DEPRECIATION AND IMPAIRMENT AT 31/12/2019 Other installations, plant, machinery, equipment & other (9,173) | DEPRECIATION AND IMPAIRMENT AT 31/12/2019 Total (78,801) |
Net value at 31/12/2018 | Net value at 31/12/2018 Land and buildings 5,777 | Net value at 31/12/2018 Nuclear power plants 24,166 | Net value at 31/12/2018 Fossil-fired & hydropower plants 6,846 | Net value at 31/12/2018 Other installations, plant, machinery, equipment & other 10,990 | Net value at 31/12/2018 Total 47,779 |
NET VALUE AT 31/12/2019 | NET VALUE AT 31/12/2019 Land and buildings 6,279 | NET VALUE AT 31/12/2019 Nuclear power plants 25,868 | NET VALUE AT 31/12/2019 Fossil-fired & hydropower plants 5,721 | NET VALUE AT 31/12/2019 Other installations, plant, machinery, equipment & other 12,143 | NET VALUE AT 31/12/2019 Total 50,011 |
(1) Changes in the scope of consolidation essentially relate to reclassification of the E&P operations as assets held for sale.
(2) Other movements include the effect on assets associated with provisions and underlying assets of the €336 million change in the real discount rate used to calculate provisions related to EDF’s nuclear generation (see note 32.1).