The amount of expenses to be compensated to EDF for 2021 is €5,472 million.
The amounts received in 2021 from the State’s General Budget, totalled
€8,085 million.
The surplus compensation principally results from changes in market prices between 2020 and 2021. The renewable electricity support charges to be compensated decreased significantly due to the rise in market prices in 2021, whereas the compensation received from the State (defined in the Finance Law for 2021 on the basis of 2020 market prices, which were particularly low) was very high.
Consequently, at 31 December 2021, EDF SA recognised an operating liability due to the State of €294 million (compared to a receivable of €1,974 million at 31 December 2020).
During 2021 EDF also bore an amount of €255 million in repayment of excess amounts received in 2016 under the former CSPE mechanism.
Finally, in accordance with decree 2016-158 of 18 February 2016 concerning compensation for public energy service charges, on 22 July 2021 the CRE published its decision 2021-230 of 15 July 2021 setting out a forecast of EDF’s public service charges for 2022 (€7,620 million), a revised forecast of charges for 2021 (€7,142 million), and the actual charges recorded for 2020 (€8,034 million).
The compensation mechanism for public energy service charges in France is presented in note 5.4.1.
| (in millions of euros) | 31/12/2021 | 31/12/2020 |
|---|---|---|
| (in millions of euros) Trade payables – excluding EDF Trading |
31/12/2021 14,041 |
31/12/2020 10,868 |
| (in millions of euros) Trade payables – EDF Trading |
31/12/2021 5,524 |
31/12/2020 1,032 |
| (in millions of euros)TRADE PAYABLES | 31/12/202119,565 | 31/12/202011,900 |
The increase in trade payables in 2021 is mainly explained by changes in market prices, and comprises €4.5 billion concerning EDF Trading and €3.2 billion for other Group subsidiaries including €1.5 billion for Edison (reflecting gas purchases made at market prices, which were higher this year).
The Group has a reverse factoring programme allowing suppliers to transfer their receivables on EDF to a factoring company, at their own initiative. For the Group, this programme does not cause any change in the substance and features of the receivables held by suppliers on EDF. In particular it does not affect the sequences of operating cash flows. The associated liabilities are therefore included in “trade payables” in the Group’s financial statements.
Details of other liabilities are as follows:
| (en millions d’euros) | 31/12/2021 | Including contract liabilities | 31/12/2020 | Including contract liabilities |
|---|---|---|---|---|
| (en millions d’euros) Advances and progress payments received |
31/12/2021 2,114 |
Including contract liabilities 1,635 |
31/12/2020 1,788 |
Including contract liabilities 1,344 |
| (en millions d’euros) Liabilities related to property, plant and equipment |
31/12/2021 4,368 |
Including contract liabilities - |
31/12/2020 4,196 |
Including contract liabilities - |
| (en millions d’euros) Tax liabilities |
31/12/2021 5,093 |
Including contract liabilities - |
31/12/2020 4,532 |
Including contract liabilities - |
| (en millions d’euros) Social charges |
31/12/2021 5,092 |
Including contract liabilities - |
31/12/2020 4,712 |
Including contract liabilities - |
| (en millions d’euros) Deferred income on long-term contracts |
31/12/2021 3,146 |
Including contract liabilities 3,110 |
31/12/2020 3,290 |
Including contract liabilities 3,233 |
| (en millions d’euros) Other deferred income* |
31/12/2021 997 |
Including contract liabilities 592 |
31/12/2020 827 |
Including contract liabilities 430 |
| (en millions d’euros) Other |
31/12/2021 9,254 |
Including contract liabilities - |
31/12/2020 2,390 |
Including contract liabilities - |
| (en millions d’euros)OTHER LIABILITIES | 31/12/202130,064 | Including contract liabilities5,337 | 31/12/202021,735 | Including contract liabilities5,007 |
| (en millions d’euros) Non-current portion |
31/12/2021 4,816 |
Including contract liabilities 3,107 |
31/12/2020 4,874 |
Including contract liabilities 3,092 |
| (en millions d’euros) Current portion |
31/12/2021 25,248 |
Including contract liabilities 2,230 |
31/12/2020 16,861 |
Including contract liabilities 1,915 |
*Including the initial payment made under the Fessenheim compensation protocol (see note 5.4.3)
Advances and progress payments received comprise €642 million of payments made by the customers in Framatome’s long-term contracts (€518 million at 31 December 2020).
At 31 December 2021, tax liabilities mainly include an amount of €562 million for the CSPE to be collected by EDF on energy supplied but not yet billed, less the CSPE tax collected on advances from customers who pay in regular monthly instalments (€502 million at 31 December 2020).
EDF’s deferred income on long-term contracts at 31 December 2021 comprises €1,746 million (€1,713 million at 31 December 2020) of partner advances made to EDF under the nuclear plant financing plans.
Deferred income on long-term contracts also includes an advance of €1.7 billion paid to the EDF group in 2010 under the agreement with the Exeltium consortium. This advance is transferred to the income statement progressively over the term of the contract (24 years).
