In 2019, EDF signed 3 renewable credit lines, each one for €300 million, respectivelywith BBVA, the Crédit Agricole group and Société Générale CIB.
These three credit facilities incorporate an adjustment mechanism that links their cost to three of the Group’s sustainability KPIs: direct CO2 emissions, use of online consumption monitoring tools by its French residential customers (as a proxy forEDF’s success in getting French residential customers actively engaged with their energy consumption), and electrification of its light vehicle fleet.
On 30 October 2020 EDF and Standard Chartered Bank signed a €200 million renewable credit facility. The cost of this facility will be indexed on three EDF group sustainability KPIs: EDF’s direct CO2 emissions, electrification of its light vehicle fleet, and use of online consumption monitoring tools by its French residential customers(see note 20.3.2).
At 31 December 2020, the Group has unused credit lines with various banks totalling€11,110 million (€10,490 million at 31 December 2019), including €5,650 million of credit lines indexed on ESG criteria.
31/12/2020 | 31/12/2019 | ||||
|---|---|---|---|---|---|
| Maturity | |||||
(in millions of euros) | Total | < 1 year | 1-5 years | > 5 years | Total |
| CONFIRMED CREDIT LINES | CONFIRMED CREDIT LINES 31/12/2020 11,110 | CONFIRMED CREDIT LINES 31/12/2019 1,808 | 8,483 | 819 | 10,490 |
Financial instruments are stated at fair value, which corresponds to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction on the principal or most advantageous market at the measurement date. The valuation methods for each level are generally as follows:
The distribution of financial assets and liabilities in the balance sheet by level is as follows.
| (in millions of euros) | Balance sheet value | Fair value | Level 1 Unadjusted quoted prices | Level 2 Observable data | Level 3 Non-observable data |
|---|---|---|---|---|---|
| Equity securities | Equity securities Balance sheet value1,563 | Equity securities Fair value 1,563 | Equity securities Level 1 Unadjusted quoted prices 24 | Equity securities Level 2 Observable data 1,121 | Equity securities Level 3 Non-observable data 418 |
| Debt securities | Debt securities Balance sheet value42,802 | Debt securities Fair value 42,802 | Debt securities Level 1 Unadjusted quoted prices 2,423 | Debt securities Level 2 Observable data 40,337 | Debt securities Level 3 Non-observable data 42 |
| Hedging derivatives | Hedging derivatives Balance sheet value5,439 | Hedging derivatives Fair value 5,439 | Hedging derivatives Level 1 Unadjusted quoted prices 59 | Hedging derivatives Level 2 Observable data 5,372 | Hedging derivatives Level 3 Non-observable data 8 |
| Trading derivatives | Trading derivatives Balance sheet value5,038 | Trading derivatives Fair value 5,038 | Trading derivatives Level 1 Unadjusted quoted prices 289 | Trading derivatives Level 2 Observable data 4,057 | Trading derivatives Level 3 Non-observable data 692 |
| Cash equivalents | Cash equivalents Balance sheet value438 | Cash equivalents Fair value 438 | Cash equivalents Level 1 Unadjusted quoted prices 343 | Cash equivalents Level 2 Observable data 95 | Cash equivalents Level 3 Non-observable data - |
| FINANCIAL ASSETS CARRIED AT FAIR VALUE | FINANCIAL ASSETS CARRIED AT FAIR VALUEBalance sheet value 55,280 | FINANCIAL ASSETS CARRIED AT FAIR VALUE Fair value 55,280 | FINANCIAL ASSETS CARRIED AT FAIR VALUE Level 1 Unadjusted quoted prices 3,138 | FINANCIAL ASSETS CARRIED AT FAIR VALUE Level 2 Observable data 50,982 | FINANCIAL ASSETS CARRIED AT FAIR VALUE Level 3 Non-observable data 1,160 |
| Receivables from the NLF | Receivables from the NLF Balance sheet value13,034 | Receivables from the NLF Fair value 13,034 | Receivables from the NLF Level 1 Unadjusted quoted prices - | Receivables from the NLF Level 2 Observable data 13,034 | Receivables from the NLF Level 3 Non-observable data - |
| Other loans and financial receivables | Other loans and financial receivables Balance sheet value3,271 | Other loans and financial receivables Fair value 3,271 | Other loans and financial receivables Level 1 Unadjusted quoted prices - | Other loans and financial receivables Level 2 Observable data 3,271 | Other loans and financial receivables Level 3 Non-observable data - |
| FINANCIAL ASSETS CARRIED AT AMORTISED COST | FINANCIAL ASSETS CARRIED AT AMORTISED COSTBalance sheet value 16,305 | FINANCIAL ASSETS CARRIED AT AMORTISED COST Fair value 16,305 | FINANCIAL ASSETS CARRIED AT AMORTISED COST Level 1 Unadjusted quoted prices - | FINANCIAL ASSETS CARRIED AT AMORTISED COST Level 2 Observable data 16,305 | FINANCIAL ASSETS CARRIED AT AMORTISED COST Level 3 Non-observable data - |
| Hedging derivatives | Hedging derivatives Balance sheet value2,792 | Hedging derivatives Fair value 2,792 | Hedging derivatives Level 1 Unadjusted quoted prices 1 | Hedging derivatives Level 2 Observable data 2,791 | Hedging derivatives Level 3 Non-observable data - |
| Trading derivatives | Trading derivatives Balance sheet value5,125 | Trading derivatives Fair value 5,125 | Trading derivatives Level 1 Unadjusted quoted prices 290 | Trading derivatives Level 2 Observable data 4,645 | Trading derivatives Level 3 Non-observable data 190 |
| FINANCIAL LIABILITIES CARRIED AT FAIR VALUE | FINANCIAL LIABILITIES CARRIED AT FAIR VALUEBalance sheet value 7,917 | FINANCIAL LIABILITIES CARRIED AT FAIR VALUE Fair value 7,917 | FINANCIAL LIABILITIES CARRIED AT FAIR VALUE Level 1 Unadjusted quoted prices 291 | FINANCIAL LIABILITIES CARRIED AT FAIR VALUE Level 2 Observable data 7,436 | FINANCIAL LIABILITIES CARRIED AT FAIR VALUE Level 3 Non-observable data 190 |
| Loans and other financial liabilities | Loans and other financial liabilities Balance sheet value65,591 | Loans and other financial liabilities Fair value 75,680 | Loans and other financial liabilities Level 1 Unadjusted quoted prices - | Loans and other financial liabilities Level 2 Observable data 75,680 | Loans and other financial liabilities Level 3 Non-observable data - |
| FINANCIAL LIABILITIES CARRIED AT AMORTISED COST | FINANCIAL LIABILITIES CARRIED AT AMORTISED COSTBalance sheet value 65,591 | FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Fair value 75,680 | FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Level 1 Unadjusted quoted prices - | FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Level 2 Observable data 75,680 | FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Level 3 Non-observable data - |
Level 3 debt and equity securities are principally non-consolidated investments carried at historical value.
