1. The Group, its strategy and activities - Page 452 | edf

Note 39 Related parties

39.1 Relations with subsidiaries

	EDF’s receivables		EDF’s liabilities
(in millions of euros)	Loans	Trade Receivables	Net liabilities included in current account	Trade Liabilities	Financial expenses	Financial income (excluding dividends)
Companies
ATMEA	ATMEA EDF’s receivables 133
CTE (ex C25)		CTE (ex C25) EDF’s liabilities 251		CTE (ex C25) 158
Framatome		Framatome EDF’s liabilities 114		Framatome 421
EDF Energy		EDF Energy EDF’s liabilities 83		EDF Energy 112		2
EDF Renouvelables	EDF Renouvelables EDF’s receivables 1,249					10
EDF International	EDF International EDF’s receivables 7,737					142
EDF Trading		EDF Trading EDF’s liabilities 1,237		EDF Trading 1,212		5
Edison						2
Enedis	Enedis EDF’s receivables 503	Enedis EDF’s liabilities 111		Enedis 1,796		5
Dalkia France	Dalkia France EDF’s receivables 1,343			Dalkia France 128		34
Groupe PEI	Groupe PEI EDF’s receivables 717			Groupe PEI 66		16
Luminus	Luminus EDF’s receivables 56					1
Edvance		Edvance EDF’s liabilities 55
EDF Pulse Croissance Holding	EDF Pulse Croissance Holding EDF’s receivables 60
Citelum	Citelum EDF’s receivables 81					2
Current account⁽²⁾				Current account ⁽²⁾ 1,762
Investment for agreement for liquidities of subsidiaries			Investment for agreement for liquidities of subsidiaries 1,091		(11)
Group cash management agreement with subsidiaries⁽³⁾			Group cash management agreement with subsidiaries ⁽³⁾ 9,450		(3)
Tax consolidation agreement				Tax consolidation agreement 1,260

(1) Receivables and payables of more than €50 million.
(2) Including €533 million concerning Sofilo and €443 million concerning Enedis.
(3) Including €3,614 million concerning C3, €1,629 million concerning EDF Trading and €837 million concerning EDF Développement Environnement.

39.2 Relations with the french state and state-owned entities

39.2.1 Relations with the french state

The French State holds 83.58% of the capital of EDF at 31 December 2019, and is thus entitled in the same way as any majority shareholder to control decisions that require approval by the shareholders.

In accordance with the legislation applicable to all companies having the French State as their majority shareholder, EDF is subject to certain inspection procedures, in particular economic and financial inspections by the State, audits by the French Court of Auditors (Cour des Comptes) or Parliament, and verifications by the French General Finance Inspectorate (Inspection générale des finances).

The public service contract between the French State and EDF was signed on 24 October 2005. This contract is intended to form the framework for public service missions assigned to EDF by the lawmaker for an unlimited period. The Law of 9 August 2004 does not stipulate the duration of the contract.

39.2.2 Relations with public sector entities

The EDF group’s relations with public sector entities mainly concern the two entities belonging to the former AREVA group (Orano and AREVA SA).

Transactions with Orano concern:

the front-end of the nuclear fuel cycle (uranium supplies, conversion and enrichment services);
the back-end of the nuclear fuel cycle (transportation, storage, processing and recycling services for spent fuel).

Front-end of the cycle

Several important agreements were negotiated between EDF and Orano:

for supplies of natural uranium: Orano Mining contracts;
for fluoration: an Orano cycle contract;
for enrichment of natural uranium into uranium 235: an Orano Cycle contract.

In connection with the plan to construct two EPRs at the Hinkley Point site, on 29 September 2016 EDF and Orano signed a uranium contract with Orano Mining, and a conversion contract and an enrichment contract with Orano Cycle.

Back-end of the cycle

Relations between EDF and Orano concerning transportation, processing and recycling of spent fuels are described in note 28.

6. Financial statements