The cumulative disbursements of nuclear expenses (based on gross values at year-end economic conditions) are distributed as follows:
2020 | |||
|---|---|---|---|
Costs based on year-end economic conditions | |||
| Provisions related to nuclear generation within the scope of the law of 28 June 2006 (in million of euros) | disbursement expected within 10 years | disbursement expected after 10 years* | TOTAL |
Spent fuel management | 2020 7,176 | 11,822 | 18,998 |
Amount unrelated to the operating cycle | 2020 239 | 2,488 | 2,727 |
Long-term radioactive waste management | 2020 5,094 | 30,486 | 35,580 |
BACK-END NUCLEAR CYCLE EXPENSES | 2020 12,270 | 42,308 | 54,578 |
Decommissioning of nuclear plants in operation | 2020 707 | 18,986 | 19,693 |
Decommissioning of shut-down nuclear plants | 2020 2,756 | 4,644 | 7,400 |
Last cores | 2020 848 | 3,410 | 4,258 |
DECOMMISSIONING AND LAST CORES | 2020 4,311 | 27,040 | 31,351 |
* Over a 20-year and 50-year horizon, 22% and 40% respectively of cumulative disbursements (at year-end economic conditions) will concern long-term radioactive waste management provisions, and 47% and 96% respectively will concern decommissioning provisions.
These approaches can be complemented by estimating the impact of a change in the discount rate on the discounted value.
The following table reports these details for the main components of EDF’s provisions for the back-end of the nuclear cycle, decommissioning of nuclear plants and last cores:
Amounts in provisions at present value | Sensitivity to discount rate | ||||
|---|---|---|---|---|---|
Balance sheet provisions | Pre-tax net income | ||||
| (in millions of euros) | 31/12/2020 | +0.20% | -0.20% | +0.20% | -0.20% |
| BACK-END NUCLEAR CYCLE EXPENSES: | BACK-END NUCLEAR CYCLE EXPENSES: Amounts in provisions at present value
| BACK-END NUCLEAR CYCLE EXPENSES: Sensitivity to discount rate
| |||
|
Amounts in provisions at present value 11,322 |
Sensitivity to discount rate (261) | 287 | 229 | (253) |
|
Amounts in provisions at present value 13,300 |
Sensitivity to discount rate (793) | 954 | 646 | (796) |
| DECOMMISSIONING AND LAST CORE EXPENSES: | DECOMMISSIONING AND LAST CORE EXPENSES: Amounts in provisions at present value
| DECOMMISSIONING AND LAST CORE EXPENSES: Sensitivity to discount rate
| |||
|
Amounts in provisions at present value 12,775 |
Sensitivity to discount rate (498) | 522 | - | - |
|
Amounts in provisions at present value 4,714 |
Sensitivity to discount rate (160) | 172 | 160 | (172) |
|
Amounts in provisions at present value 2,711 |
Sensitivity to discount rate (91) | 97 | - | - |
| TOTAL | TOTAL Amounts in provisions at present value 44,822 | TOTAL Sensitivity to discount rate (1,803) | 2,032 | 1,035 | (1,221) |
| Amount covered by dedicated assets | Amount covered by dedicated assets Amounts in provisions at present value 32,676 | Amount covered by dedicated assets Sensitivity to discount rate (1,564) | 1,772 | 875 | (1,043) |
Other provisions for decommissioning principally concern fossil-fired power plants.
The costs of decommissioning fossil-fired power plants are calculated using regularly updated studies based on estimated future costs, measured by reference to the charges recorded on past operations and the most recent estimates for plants still in operation.
The provision recorded at 31 December 2020 reflects the most recent known cost estimates and includes rehabilitation costs for generation sites.
