The provisions established by EDF for the nuclear generation fleet principally result from the Law of 28 June 2006 on long-term management of radioactive materials and waste, and the associated implementing provisions concerning secure financing of nuclear expenses.
In compliance with the accounting principles described in note 1.15.1:
The calculation of provisions incorporates a level of risks and unknowns that depend on the operations concerned. The valuation of costs also carries uncertainty factors as described in note 1.2.2.
Details of changes in provisions for the back-end of the nuclear cycle, decommissioning and last cores are as follows:
|
Increases |
Decreases |
31/12/2021 | |||||
|---|---|---|---|---|---|---|---|
| (in millions of euros | 31/12/2020 | Operating (3) | Financial (1) |
Utilisations (3) |
Reversals (3) |
Other changes (2) | |
| Provisions for spent fuel management | 11,322 | 1,185 | 505 | (806) | (476) | 89 | 11,819 |
|
1,297 | 366 | 89 | (15) | - | (11) | 1,726 |
|
1,076 | 42 | 54 | (36) | - | - | 1,136 |
| Provisions for long-term radioactive waste management |
13,300 | 126 | 854 | (224) | (3) | 180 | 14,233 |
|
Provisions for the back-end of the nuclear cycle |
24,622 | 1,311 | 1,359 | (1,030) | (479) | 269 | 26,052 |
|
Provisions for the back-end of the nuclear cycle within the scope of the Law of 28 June 2006 * |
23,546 | 1,269 | 1,305 | (994) | (479) | 269 | 24,916 |
| Provisions for the back-end of the nuclear cycle outside the scope of the Law of 28 June 2006 * | 1,076 | 42 | 54 | (36) | - | - | 1,136 |
|
Provisions for nuclear plant |
17,489 | 262 | 649 | (186) | - | (484) | 17,730 |
|
Provisions for last cores |
2,711 | - | 83 | - | - | (134) | 2,660 |
|
Provisions for decommissioning and last cores |
20,200 | 262 | 732 | (186) | - | (618) | 20,390 |
|
TOTAL PROVISIONS RELATED TO NUCLEAR GENERATION |
44,822 | 1,573 | 2,091 | (1,216) | (479) | (349) | 46,442 |
| Provisions for the back-end of the nuclear cycle within the scope of the Law of 28 June 2006 * | 43,746 | 1,531 | 2,037 | (1,180) | (479) | (349) | 45,306 |
|
Provisions for the back-end of the nuclear cycle outside the scope of the Law of 28 June 2006 * |
1,076 | 42 | 54 | (36) | - | - | 1,136 |
*Scope of application of the law of 28 June 2006 on the sustainable management of radioactive materials and waste and its application decrees concerning secure financing of nuclear expenses. The provisions that do not fall within the scope of this law are provisions for the back-end of the nuclear cycle concerning non-EDF installations (see below)
(1) The discount effect comprises the €1,474 million cost of unwinding the discount, and the effects of the change in the real discount rate in 2021, recognised via the income statement for provisions with no related assets (€617 million) (cost of unwinding the discount).
(2) The change in in 2021 in provisions related to nuclear generation is mainly explained by the extension of the depreciation period of 1,300MW-series power plants, which had an impact of €(1,016) million at 1 January 2021 (see note 2.1.1), distributed as follows: €(916) million on provisions for decommissioning, €(214) million on provisions for last cores, and €114 million on provisions for long-term radioactive waste management
This impact on provisions related to nuclear generation principally results from timing differences in payment outflows (the discount effect on provisions), and also includes a minor revision of estimates to reflect the increase in decommissioning waste to be sent for interim or final storage in certain years, which requires industrial solutions to smooth the waste dispatch flows.
The €(1,016) decrease in provisions related to nuclear generation is presented as follows:
“Other movements” also include the €495 million effects of the change in the real discount rate at 31 December 2021 of or provisions backed by assets. (3) See notes 6 and 11.2.
