Sales volumes to final customers (a market segment that includes local distribution firms and excludes foreign operators) were down by -25.9TWh, including 12.2TWh related to loss of customers.
EDF was a net seller on the wholesale markets to the extent of 53.9TWh. The 9.0TWh decrease in net sales on the markets is explained by the lower nuclear power output, which was partly offset by a rise in hydropower output and lower sales to final customers.
Sales by the France – Regulated activities segment amounted to € 16,228 million, an organic rise of € 141 million (+0.9%) from 2019. The impact of the Covid-19 pandemic is estimated at -€ 278 million.
For Enedis(1), sales essentially benefited from a favourable price effect
(+€ 462 million), principally due to developments in the indexation of the TURPE 5 distribution tariff(2), despite the effects of tariff optimisation by suppliers.
The Covid-19 pandemic resulted in smaller quantities being delivered and a decrease in network connection services, which also affected sales income, mainly in the first half-year.
Climate-related impacts had an unfavourable effect on sales estimated at
-€ 236 million.
EDF Renewables’ sales totalled €1,582 million in 2020, an organic increase of
€119 million (+7.6%) from 2019.
In an environment marked by the Covid-19 pandemic, sales from energy generation showed organic growth of +3.7%, thanks to the fleet’s limited exposure to market prices and the volumes produced by wind and solar power facilities, which achieved organic growth of +6.3% following the commissioning of new plants in the second half of 2019, and generally more favourable wind and sunshine conditions. Additionally, the renewables business in the United States (distributed solar power) registered organic sales growth of 33.6%, confirming the recovery observed in the second quarter of 2020 after a particularly difficult year in 2019.
Sales by Dalkia amounted to € 4,212 million in 2020, an organic decrease of
€ 399 million (-9.3%) compared to 2019.
This change is explained by the impact of the Covid-19 pandemic, estimated at
-€ 193 million, on Dalkia’s business volumes (work was suspended in France and in other countries in the first half of the year, and services to industry and buildings were significantly scaled back), the substantially lower gas prices compared to 2019, which had no repercussions on EBITDA, and to a lesser degree the mild weather.
Heat network activities and energy and industrial refrigeration services displayed their resilience during the public health crisis, supporting continuity in essential services (hospitals, refrigerated food storage, industries, data centres, etc).
The growth in business is continuing despite the Covid-19 crisis, especially in France with the conclusion and renewal of contracts, for example the new 15-year energy performance contract with Thales Alenia Space for its Cannes site, and renewal for
8 years of the operating contract including energy efficiency targets for installations belonging to Reims and Epernay hospitals.
Framatome’s sales amounted to € 3,295 million in 2020, an organic decrease of -3.1% compared to 2019. A significant portion of sales are made within the Group.
Sales were particularly affected by the Covid-19 pandemic, which had an estimated impact of -€ 78 million, principally concerning sales by the “Installed Base” business unit.
Order intake, including orders from EDF SA, amounted to € 2.9 billion in 2020.
In commercial developments, in October Nextera awarded Framatome the contract for modernisation of the command-and-control system for the Turkey Point nuclear power plant in the United States.
Sales in the United Kingdom in 2020 amounted to € 9,041 million, € 533 million lower than in 2019. Excluding foreign exchange effects (-€ 126 million), and changes in the scope of consolidation (-€ 220 million), sales saw an organic decline of 2.0% compared to 2019.
The decrease in UK sales is primarily explained by the effects of the Covid-19 pandemic on sales by the Customer business, the lower nuclear power output (-5.3TWh), and the decrease in capacity revenue. These effects were partly offset by the higher realised sales prices for nuclear power.
The Italy segment’s sales totalled € 5,967 million for 2020, an organic decrease of
€ 1,650 million (-21.7%) compared to 2019.
In the gas activities, sales were down, in keeping with the lower prices across all markets (this had only a limited impact on the margin). The impact of the Covid-19 crisis on sales volumes to business customers (around -€ 40 million), the mild winter (around -€ 42 million) and the lower sales of gas for thermal power generation also contributed to this downturn.
In the electricity activities, sales were also down, principally as a result of a decrease in electricity prices. The Covid-19 pandemic also caused a decline in sales volumes to business customers (around -€ 50 million).
The Other international segment principally covers operations in Belgium, the United States, Brazil and Asia (China, Vietnam and Laos). Sales by this segment amounted to € 2,420 million in 2020, an organic decline of € 136 million (-5.1%).
In Belgium(3), sales totalled €1,736 million, an organic decrease of -€ 183 million (-9.6%) compared to 2019. The Covid-19 pandemic had an impact estimated at
-€ 80 million through the decline in consumption, an unfavourable market price effect, and lower levels of business for services. Sales revenues were affected by a downturn in market prices for electricity and gas for sales to private and industrial customers, and a negative volume effect driven by the mild weather and continuing intense competition. The year 2020 also benefited from a substantial rise in wind power output, which totalled 1.17TWh (up by +25% from 2019) thanks to favourable wind conditions and an increase in installed capacity.
In Brazil, sales amounted to € 474 million, an organic increase of +9.2% reflecting revision of the Norte Fluminense Power Purchase Agreement (PPA) price (+5% in November 2019 and +28% in November 2020). This revision was index-linked to gas prices and the Brazilian real’s decline against the dollar. The Covid-19 pandemic did not have a significant effect in Brazil due to the nature of the Group’s activities. It should be noted that the foreign exchange effect was significantly negative, due to the fall in the Brazilian real against the euro.
Other activities comprise, among other entities, EDF Trading and the gas activities.
Sales by this segment amounted to € 2,127 million in 2020, an organic decrease of
€ 568 million (-20.8%) compared to 2019. The impact of the Covid-19 pandemic is estimated at -€ 53 million.
(1) Enedis is an independent EDF subsidiary as defined in the French Energy Code.
(2) Indexed adjustments to the TURPE 5 distribution tariff: +2.75% at 1 August 2020 and +3.04% at
1 August 2019.
(3) Belgium comprises Luminus and EDF Belgium.
