The main components of the amount transferred to operating profit before depreciation and amortisation in respect of commodity hedges terminated during the year are:
| (in millions of euros) | 31/12/2019 | 31/12/2018 |
|---|---|---|
| Electricity hedging contracts | Electricity hedging contracts 31/12/2019 (753) | Electricity hedging contracts 31/12/2018 (388) |
| Gas hedging contracts | Gas hedging contracts 31/12/2019 1,428 | Gas hedging contracts 31/12/2018 (280) |
| Coal hedging contracts | Coal hedging contracts 31/12/2019 2 | Coal hedging contracts 31/12/2018 (109) |
| Oil product hedging contracts | Oil product hedging contracts 31/12/2019 (61) | Oil product hedging contracts 31/12/2018 (194) |
| CO2 emission rights hedging contracts | CO2 emission rights hedging contracts 31/12/2019 103 | CO2 emission rights hedging contracts 31/12/2018 183 |
| CHANGES IN FAIR VALUE BEFORE TAXES | CHANGES IN FAIR VALUE BEFORE TAXES 31/12/2019 719 | CHANGES IN FAIR VALUE BEFORE TAXES 31/12/2018 (788) |
Details of commodity-related cash flow hedges are as follows:
| 31/12/2019 | 31/12/2018 | |||||||
|---|---|---|---|---|---|---|---|---|
| Net notional | ||||||||
| (in millions of euros) | Units of measure | < 1 year | 1-5 years | > 5 years | Total | Fair value | Net notional | Fair value |
| Swaps | Swaps 31/12/2019 (9) | Swaps 31/12/2018 - | - | (9) | 105 | (4) | 50 | |
| Forwards/futures | Forwards/futures 31/12/2019 (4) | Forwards/futures 31/12/2018 (36) | - | (40) | 288 | (51) | (859) | |
| Electricity | Electricity TWh | Electricity 31/12/2019 (13) | Electricity 31/12/2018 (36) | - | (49) | 393 | (55) | (809) |
| Swaps | Swaps 31/12/2019 74 | Swaps 31/12/2018 77 | - | 151 | (24) | (190) | 9 | |
| Forwards/futures | Forwards/futures 31/12/2019 1,038 | Forwards/futures 31/12/2018 1,066 | - | 2,104 | (373) | 1,504 | 25 | |
| Gas | Gas Millions of therms | Gas 31/12/2019 1,112 | Gas 31/12/2018 1,143 | - | 2,255 | (397) | 1,314 | 34 |
| Swaps | Swaps 31/12/2019 2,027 | Swaps 31/12/2018 4,589 | - | 6,616 | 7 | 10,402 | (53) | |
| Options | Options 31/12/2019 - | Options 31/12/2018 - | - | - | - | 180 | - | |
| Oil products | Oil products Thousands of barrels | Oil products 31/12/2019 2,027 | Oil products 31/12/2018 4,589 | - | 6,616 | 7 | 10,582 | (53) |
| Swaps | Swaps 31/12/2019 - | Swaps 31/12/2018 (1) | - | (1) | 1 | - | - | |
| Coal | Coal Millions of tonnes | Coal 31/12/2019 - | Coal 31/12/2018 (1) | - | (1) | 1 | - | - |
| Swaps | Swaps 31/12/2019 - | Swaps 31/12/2018 - | - | - | - | - | - | |
| Forwards/futures | Forwards/futures 31/12/2019 15,710 | Forwards/futures 31/12/2018 10,956 | - | 26,666 | 44 | 13,488 | 183 | |
| CO2 | CO 2Thousands of tonnes | CO 231/12/2019 15,710 | CO 231/12/2018 10,956 | - | 26,666 | 44 | 13,488 | 183 |
| COMMODITY-RELATED CASH FLOW HEDGES | 48 | (645) | ||||||
Details of commodity-related fair value hedges are as follows:
| 31/12/2019 | 31/12/2018 | ||||
|---|---|---|---|---|---|
| (in millions of euros) | Units of measure | Net notional | Fair value | Net notional | Fair value |
| Coal and freight | Coal and freight Millions of tonnes | Coal and freight 31/12/2019 (415) | Coal and freight 31/12/2018 71 | (3) | 2 |
| Oil products | Oil products Thousands of barrels | Oil products 31/12/2019 7,021 | Oil products 31/12/2018 (5) | 5,136 | (23) |
| Gas | Gas Millions of therms | Gas 31/12/2019 (2) | Gas 31/12/2018 (1) | (93) | (31) |
| COMMODITY-RELATED FAIR VALUE HEDGES | COMMODITY-RELATED FAIR VALUE HEDGES 31/12/2018 65 | (52) | |||
