Sales are comprised of:
| (in millions of euros) | 2021 | 2020 |
|---|---|---|
| Sales of energy and energy-related services | Sales of energy and energy-related services 2021 77,432 |
Sales of energy and energy-related services 2020 62,918 |
| energy (1) | energy (1) 2021 56,866 |
energy (1) 2020 43,767 |
| energy-related services (including delivery (2)) | energy-related services (including delivery (2)) 2021 20,566 |
energy-related services (including delivery (2)) 2020 19,151 |
| Other sales of goods and service | Other sales of goods and service 2021 5,511 |
Other sales of goods and service 2020 5,201 |
| Trading | Trading 2021 1,518 |
Trading 2020 912 |
| SALES | SALES 2021 84,461 |
SALES 2020 69,031 |
(1) Sales of energy include €1,623 million of sales related to optimisation operations on the wholesale gas and electricity markets in 2021 (€1,112 million in 2020). These operations are carried out by certain Group entities to balance supply and demand, in compliance with the Group’s risk management policy. In 2021, the principal operating segments with a net short position in euros on the markers are France – Generation and supply (gas) and Italy (electricity). In 2020, the segments were France – Generation and supply (gas), Italy (electricity) and the United Kingdom (electricity)
(2) Delivery services included in this item concern the distribution network operators Enedis, Électricité de Strasbourg and EDF SA for non-interconnected zones. However, delivery services concerning EDF Energy and Edison are included in Sales of energy, because those entities are classified as the principal under IFRS 15 for both supply and delivery. The delivery services by EDF Energy and Edison have no impact on net income because they are included in “Transmission and delivery expenses” in note 5.2.
After elimination of foreign exchange effects and changes in the scope of consolidation, the Group’s sales for 2021 were up by 21.6% or €14.9 billion. Practically all operating segments were concerned by this increase, which reflects the rise in energy prices and a recovery in business after the Covid-19-affected year 2020, particularly France – Generation and Supply (+16.3% or +€4.4 billion), France – Regulated activities (+8.1% or +€1.3 billion), Italy (+88.3% or €5.2 billion), Other activities (+90.6% or €1.7 billion), Dalkia (+21.3% or +€0.8 billion) and the United Kingdom (+8.3% or +€0.8 billion).
Note that in 2020, sales were affected by the Covid-19 pandemic which had an estimated impact of €(2,306) million. The principal operating segments concerned were France – Generation and Supply (€(1,083) million), France – Regulated activities (€(278) million), the United Kingdom (€(451) million), Italy (€(90) million), and Dalkia (€(193) million).
Sales by the France – Generation and Supply segment registered an organic increase of +€4.4 billion. This increase is principally explained by favourable energy market price effects on resales of purchase obligations. Sales were also affected by the following two contrasting effects: a 25.3TWh increase in nuclear power output compared to 2020, which was greatly affected by the Covid-19 pandemic (with an estimated impact of 33TWh in 2020 due to modulation and adaptation of the maintenance outage schedule) and a 2.6TWh decrease in hydropower output; and despite the favourable effects of higher generation volumes, very unfavourable price effects relating to purchases and sales on the wholesale market as purchases had to be made at very high prices, particularly in the fourth quarter when certain power plants were offline. This segment’s sales were also supported by good levels of business by the service subsidiaries.
The rise in sales by the France – Regulated activities segment (+€1.3 billion) principally reflects changes made to the TURPE distribution tariff in a context of higher delivery quantities (as the weather was colder in 2021 than 2020), and an increase in connection services (including the unfavourable effect of the Covid-19 pandemic, particularly in the first half of 2020).
The Italy segment registered an increase of +€5.2 billion in sales, principally explained by favourable gas price effects across all markets, and to a lesser degree by a volume effect. Higher electricity prices also contributed to the rise in sales in 2021.
The +€1.7 billion organic growth in sales by the Other activities segment essentially concerned the gas businesses (+€1.0 billion) due to rising gas prices on the wholesale markets, and higher sales by EDF Trading (+€0.6 billion) thanks to its trading performance in highly volatile commodity markets in Europe and the United States (notably during the spell of extremely cold weather in Texas in early 2021).
Dalkia registered an organic increase of +€0.8 billion in sales, notably attributable to higher business volumes (including the unfavourable effect of the Covid-19 pandemic in 2020, especially in the first half-year), a substantial rise in gas prices, and a favourable weather-related volume effect in 2021.
Fuel and energy purchases comprise:
| (in millions of euros) | 2021 | 2020 |
|---|---|---|
| Fuel purchases used – power generation* | Fuel purchases used – power generation* 2021 (14,973) |
Fuel purchases used – power generation* 2020 (10,162) |
| Energy purchases* | Energy purchases* 2021 (21,417) |
Energy purchases* 2020 (14,645) |
| Transmission and delivery expenses | Transmission and delivery expenses 2021 (8,088) |
Transmission and delivery expenses 2020 (7,916) |
| Gain/loss on hedge accounting | Gain/loss on hedge accounting 2021 (10) |
Gain/loss on hedge accounting 2020 (22) |
| (Increase)/decrease in provisions related to nuclear fuels and energy purchases | (Increase)/decrease in provisions related to nuclear fuels and energy purchases 2021 189 |
(Increase)/decrease in provisions related to nuclear fuels and energy purchases 2020 320 |
| FUEL AND ENERGY PURCHASES | FUEL AND ENERGY PURCHASES 2021 (44,299) |
FUEL AND ENERGY PURCHASES 2020 (32,425) |
*Fuel purchases used and Energy purchases include respectively €864 million and €4,167 million for optimisation operations on the wholesale gas and electricity markets in 2021 (€514 million and €1,674 million in 2020). In 2021 the principal operating segments with net long positions in euros on the markets are France – Generation and supply (electricity), United Kingdom (gas and electricity), Other international (Luminus – gas and electricity) and Dalkia (gas). In 2020, the same segments were concerned.
