This note presents off-balance sheet commitments given and received by the Group at 31 December 2019. The amounts of commitments correspond to non-discounted contractual values.
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.
| (in millions of euros) | Notes | 31/12/2019 | 31/12/2018 |
|---|---|---|---|
| Operating commitments given | Operating commitments given Notes 49.1.1 | Operating commitments given 31/12/2019 41,110 | Operating commitments given 31/12/2018 45,370 |
| Investment commitments given | Investment commitments given Notes 49.1.2 | Investment commitments given 31/12/2019 18,237 | Investment commitments given 31/12/2018 17,572 |
| Financing commitments given | Financing commitments given Notes 49.1.3 | Financing commitments given 31/12/2019 6,343 | Financing commitments given 31/12/2018 5,494 |
| TOTAL COMMITMENTS GIVEN | TOTAL COMMITMENTS GIVEN 31/12/2019 65,690 | TOTAL COMMITMENTS GIVEN 31/12/2018 68,436 |
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 by the Group at 31 December 2019 are as follows:
| (in millions of euros) | 31/12/2019 | 31/12/2018 |
|---|---|---|
| Fuel and energy purchase commitments* | Fuel and energy purchase commitments *31/12/2019 25,373 | Fuel and energy purchase commitments *31/12/2018 26,878 |
| Operating contract performance commitments given | Operating contract performance commitments given 31/12/2019 15,248 | Operating contract performance commitments given 31/12/2018 14,117 |
| Operating lease commitments as lessee | Operating lease commitments as lessee 31/12/2019 489 | Operating lease commitments as lessee 31/12/2018 4,375 |
| TOTAL OPERATING COMMITMENTS GIVEN | TOTAL OPERATING COMMITMENTS GIVEN 31/12/2019 41,110 | TOTAL OPERATING COMMITMENTS GIVEN 31/12/2018 45,370 |
*Excluding gas purchases and related services.
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 2019, fuel and energy purchase commitments mature as follows:
| 31/12/2019 | 31/12/2018 | |||||
|---|---|---|---|---|---|---|
| Maturity | Total | |||||
| (in millions of euros) | Total | < 1 year | 1-5 years | 5-10 years | > 10 years | |
| Electricity purchases and related services(1) | Electricity purchases and related services (1)31/12/2019 9,999 | Electricity purchases and related services (1)31/12/2018 2,305 | 3,614 | 2,157 | 1,923 | 10,368 |
| Other energy and commodity purchases(2) | Other energy and commodity purchases (2)31/12/2019 281 | Other energy and commodity purchases (2)31/12/2018 62 | 144 | 75 | - | 377 |
| Nuclear fuel purchases | Nuclear fuel purchases 31/12/2019 15,093 | Nuclear fuel purchases 31/12/2018 1,580 | 6,142 | 4,771 | 2,600 | 16,133 |
| FUEL AND ENERGY PURCHASE COMMITMENTS | FUEL AND ENERGY PURCHASE COMMITMENTS 31/12/2019 25,373 | FUEL AND ENERGY PURCHASE COMMITMENTS 31/12/2018 3,947 | 9,900 | 7,003 | 4,523 | 26,878 |
(1) Including commitments given by controlled entities to joint ventures, amounting to €569 million at 31 December 2019 (€604 million at 31 December 2018).
(2) Excluding gas purchases and related services – see note 49.1.1.1.4.
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 57TWh for 2019 (53TWh for 2018), including 7TWh for co-generation (7TWh for 2018), 30TWh for wind power (26TWh for 2018), 11TWh for photovoltaic power (9TWh for 2018) and 3TWh for hydropower (3TWh for 2018).
