| (in millions of euros) | Gross value at 31/12/2020 | Increases | Decreases | Gross value at 31/12/2021 |
|---|---|---|---|---|
| (in millions of euros) Software |
Gross value at 31/12/2020 2,384 |
Increases 449 |
Decreases 65 |
Gross value at 31/12/2021 2,768 |
| (in millions of euros) Other |
Gross value at 31/12/2020 285 |
Increases 14 |
Decreases 1 |
Gross value at 31/12/2021 298 |
| (in millions of euros)Intangible assets | Gross value at 31/12/20202,669 | Increases463 | Decreases66 | Gross value at 31/12/20213,066 |
| (in millions of euros) Land |
Gross value at 31/12/2020 119 |
Increases 2 |
Decreases 1 |
Gross value at 31/12/2021 120 |
| (in millions of euros) Building |
Gross value at 31/12/2020 11,995 |
Increases 305 |
Decreases 72 |
Gross value at 31/12/2021 12,228 |
| (in millions of euros) Nuclear power plants |
Gross value at 31/12/2020 63,437 |
Increases 3,934 |
Decreases 1,473 |
Gross value at 31/12/2021 65,898 |
| (in millions of euros) Machinery and plant other than networks |
Gross value at 31/12/2020 13,407 |
Increases 263 |
Decreases 199 |
Gross value at 31/12/2021 13,471 |
| (in millions of euros) EDF-owned networks |
Gross value at 31/12/2020 1,125 |
Increases 32 |
Decreases 2 |
Gross value at 31/12/2021 1,155 |
| (in millions of euros) Other |
Gross value at 31/12/2020 1,738 |
Increases 145 |
Decreases 80 |
Gross value at 31/12/2021 1,803 |
| (in millions of euros)Property, plant and equipment owned by EDF (1) | Gross value at 31/12/202091,821 | Increases4,681 | Decreases1,827 | Gross value at 31/12/202194,675 |
| (in millions of euros) Land |
Gross value at 31/12/2020 48 |
Increases - |
Decreases - |
Gross value at 31/12/2021 48 |
| (in millions of euros) Buildings |
Gross value at 31/12/2020 10,786 |
Increases 97 |
Decreases 86 |
Gross value at 31/12/2021 10,797 |
| (in millions of euros) Machinery and plant other than networks |
Gross value at 31/12/2020 1,813 |
Increases 79 |
Decreases 26 |
Gross value at 31/12/2021 1,866 |
| (in millions of euros) Concession networks |
Gross value at 31/12/2020 3,153 |
Increases 175 |
Decreases 31 |
Gross value at 31/12/2021 3,297 |
| (in millions of euros) Other |
Gross value at 31/12/2020 20 |
Increases 1 |
Decreases - |
Gross value at 31/12/2021 21 |
| (in millions of euros)Property, plant and equipment operated under concessions (2) | Gross value at 31/12/202015,820 | Increases352 | Decreases143 | Gross value at 31/12/202116,029 |
| (in millions of euros) Tangible assets |
Gross value at 31/12/2020 17,431 |
Increases 5,140 |
Decreases 4,781 |
Gross value at 31/12/2021 17,790 |
| (in millions of euros) Intangible assets |
Gross value at 31/12/2020 1,189 |
Increases 651 |
Decreases 470 |
Gross value at 31/12/2021 1,370 |
| (in millions of euros) Advances and progress payments on orders (2) |
Gross value at 31/12/2020 3,020 |
Increases 62 |
Decreases - |
Gross value at 31/12/2021 3,082 |
| (in millions of euros)Assets in progress (3) | Gross value at 31/12/202021,640 | Increases5,853 | Decreases5,251 | Gross value at 31/12/202122,242 |
| (in millions of euros)TOTAL INTANGIBLE AND TANGIBLE FIXED ASSETS (4) | Gross value at 31/12/2020131,950 | Increases11,349 | Decreases7,287 | Gross value at 31/12/2021136,012 |
(1) Property, plant and equipment owned by EDF include the €1,913 million impact of 56 emergency diesel generators (€1,224 million for the 35 such generators commissioned in 2019, €645 million for the 20 generators commissioned in 2020 and €44 million for the last one commissioned in 2021, in line with the timetable approved by the ASN).
(2) Property, plant and equipment operated under concessions concern the Island Energy Systems public electricity distribution concessions, and hydropower concessions.
(3) Investments during the year mainly concern equipment for existing power plants under the Grand Carénage programme (for replacement of major components, particularly steam generators, and work done in connection with the 10-year and regular inspections), and construction of the EPR plant (Flamanville 3). Intangible assets in progress in 2021 include studies concerning the EPR 2 project, amounting to €707 million (€538 million in 2020) and the Small Modular Reactor (SMR) project, amounting to €69 million.
(4) The capitalised value of the Flamanville 3 EPR project in the financial statements at 31 December 2021 is €12,164 million* (€11,860 million in tangible assets in progress and €304 million in assets commissioned). In addition to the construction cost, this amount includes an inventory of spare parts and capitalised amounts totalling €529 million for related projects (notably the initial comprehensive inspection and North Area development), and €781 million of pre-operating expenses and other tangible assets related to the Flamanville project, giving a total construction cost at historical value of €10,854 million. Accumulated depreciation and amortisation recognised at 31 December 2021 in respect of assets in operation amounts to €98 million.
Also, on 12 January 2022 EDF announced that the schedule for the Flamanville 3 project was being adjusted and the estimated completion cost raised from €12.4 billion to €12.7 billion (in 2015 euros, excluding interim interest).
In its report of July 2020 on EPR technology, the French Court of Auditors (Cour des Comptes) stated that by its calculations, in addition to the construction cost of €12.4 billion (in 2015 euros) announced by EDF in its press release of 9 October 2019, there would be further costs that could reach €6.7 billion (in 2015 euros), including €4.2 billion of interest expenses which are treated as expenses under French GAAP. As stated above, the other capitalised project costs amount to €1.3 billion at 31 December 2021. The additional costs incurred for repairs to the main secondary circuit welds at Flamanville 3 are abnormal costs that cannot be included in the production cost of an asset. They are recorded in expenses and amount to €587 million in 2021, comprising €548 million of services and other purchases used (see note 8 (3)) and €39 million of personnel expenses (see note 10). The additional costs induced by the readjustment announced on 12 January 2022 will be recognised in other operating income and expenses.
* Interim interest is not capitalised in the parent company financial statements.
The EPR 2 project concerns a new pressurised water nuclear reactor that meets the objectives for third-generation reactor safety, aiming to incorporate design, construction and commissioning experience acquired from EPR reactors and the nuclear reactors currently in operation.
On 16 July 2019, the ASN issued an opinion that the safety levels of EDF’s key design options for its EPR 2 were satisfactory. It stated that “the general safety objectives, the safety baseline requirements and the main design options are on the whole satisfactory”.
The EPR 2 will also offer superior operating performance in terms of power (1,650MW compared to 1,450MW for the most powerful current reactor), output, availability and manoeuvrability.
The draft PPE published on 25 January 2019 by the Ministry for the Ecological and Inclusive Transition stated that the Government, together with the nuclear industry, would conduct a programme of work by mid-2021 to examine the questions of the cost of new nuclear energy production and its advantages and disadvantages in relation to other low-carbon generation methods, the possible financing models, the project management modalities for new reactor projects and public consultation, and matters relating to the management of waste generated by the potential new nuclear fleet, and that based on this information and depending on developments in the energy situation, the Government would make a decision regarding the suitability of launching a renewal programme for nuclear installations.
