1. The Group, its strategy and activities - Page 342 | edf

The breakdown of provisions by company is shown below:

	EDF	EDF Energy	Belgium	Total
(in millions of euros)	Note 32.1	Note 32.2
Provisions for spent fuel management	Provisions for spent fuel management EDF 10,823	Provisions for spent fuel management EDF Energy 1,503	Provisions for spent fuel management Belgium -	Provisions for spent fuel management Total 12,326
Provisions for waste removal and conditioning	Provisions for waste removal and conditioning EDF 805	Provisions for waste removal and conditioning EDF Energy 532	Provisions for waste removal and conditioning Belgium -	Provisions for waste removal and conditioning Total 1,337
Provisions for long-term radioactive waste management	Provisions for long-term radioactive waste management EDF 10,531	Provisions for long-term radioactive waste management EDF Energy 1,053	Provisions for long-term radioactive waste management Belgium 7	Provisions for long-term radioactive waste management Total 11,591
PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLEAT 31/12/2019	PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLEAT 31/12/2019 EDF 22,159	PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLEAT 31/12/2019 EDF Energy 3,088	PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLEAT 31/12/2019 Belgium 7	PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLEAT 31/12/2019 Total 25,254
Provisions for the back-end of the nuclear cycle at 31/12/2018	Provisions for the back-end of the nuclear cycle at 31/12/2018 EDF 21,295	Provisions for the back-end of the nuclear cycle at 31/12/2018 EDF Energy 2,576	Provisions for the back-end of the nuclear cycle at 31/12/2018 Belgium 6	Provisions for the back-end of the nuclear cycle at 31/12/2018 Total 23,877
Provisions for nuclear plant decommissioning	Provisions for nuclear plant decommissioning EDF 16,937	Provisions for nuclear plant decommissioning EDF Energy 10,303	Provisions for nuclear plant decommissioning Belgium 369	Provisions for nuclear plant decommissioning Total 27,609
Provisions for last cores	Provisions for last cores EDF 2,624	Provisions for last cores EDF Energy 1,892	Provisions for last cores Belgium -	Provisions for last cores Total 4,516
PROVISIONS FOR DECOMMISSIONING AND LAST CORESAT 31/12/2019	PROVISIONS FOR DECOMMISSIONING AND LAST CORESAT 31/12/2019 EDF 19,561	PROVISIONS FOR DECOMMISSIONING AND LAST CORESAT 31/12/2019 EDF Energy 12,195	PROVISIONS FOR DECOMMISSIONING AND LAST CORESAT 31/12/2019 Belgium 369	PROVISIONS FOR DECOMMISSIONING AND LAST CORESAT 31/12/2019 Total 32,125
Provisions for decommissioning and last cores at 31/12/2018	Provisions for decommissioning and last cores at 31/12/2018 EDF 18,511	Provisions for decommissioning and last cores at 31/12/2018 EDF Energy 8,332	Provisions for decommissioning and last cores at 31/12/2018 Belgium 301	Provisions for decommissioning and last cores at 31/12/2018 Total 27,144

Details of nuclear provisions in France and the United Kingdom are provided in notes 32.1 and 32.2 respectively.

In Belgium, the Belgian law of 11 April 2003 assigned management of provisions concerning the Belgian nuclear plants, and the funds that cover them, to Synatom (a subsidiary of the Engie Group). Luminus contributes via Synatom to these funds, to cover its share of plant decommissioning and back-end nuclear fuel expenses as a co-owner of 4 nuclear plants. These funding mechanisms are reflected through the following items in the consolidated financial statements:

obligations presented in the liabilities in the form of provisions, amounting to €259 million at 31 December 2019 (€209 million at 31 December 2018);
a receivable representing the advance payments made to Synatom, recognised in the consolidated balance sheet assets as financial assets carried at fair value (see note 39.3) at the value of €230 million at 31 December 2019 (€203 million at 31 December 2018). This receivable, which corresponds to the fair value of the share of funds held by Synatom on behalf of Luminus, is discounted by applying the same real discount rate used to determine the obligations they will cover.

32.1 Nuclear provisions in France

In France, the provisions established by EDF SA for the nuclear generation fleet 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 1.3.2.2:

EDF books provisions to cover all obligations related to the nuclear facilities it operates;
EDF holds dedicated assets for secure financing of long-term obligations (see note 48).

The calculation of provisions incorporates a level of risks and unknowns as appropriate to the operations concerned. The valuation of costs carries uncertainty factors such as:

changes in legislation, particularly regarding safety, security and environmental protection, and financing of long-term nuclear expenses;
changes in the regulatory decommissioning process and the time necessary for issuance of administrative authorisation;
future methods for storing long-lived radioactive waste and provision of storage facilities by the French agency for radioactive waste management ANDRA (Agence nationale pour la gestion des déchets radioactifs);
changes in certain financial parameters such as discount rates, notably in view of the regulatory limits, inflation rates, or changes in the contractual terms of spent fuel management.

6. Financial statements

32.1 Nuclear provisions in France