Each year, EDF makes provisions for the downstream side of the nuclear fuel cycle in France (1).
EDF’s industrial goal for the preparation for the future of the nuclear fleet rests primarily on the following strategic areas:
In addition, on 4 November 2022, EDF and GE entered into a definitive agreement covering the acquisition by EDF of GE Steam Power’s nuclear business (2). The proposed transaction would cover GE Steam Power’s conventional island equipment for new nuclear power plants, including Arabelle turbines, as well as maintenance and upgrades for existing nuclear power plants (outside the Americas).
The French Environmental Code (Code de l’environnement) does not specify any maximum duration of operation. However, it requires the status of facilities to be assessed every ten years in view of applicable regulations, and an update of the assessment of the risks and drawbacks of the facility with respect to protected interests. To achieve this, the state of the facilities, the experience gained during their operation, new developments in nuclear science, and safety rules applying to similar facilities (“safety handbook”) are taken into account.
EDF’s industrial strategy is to operate the fleet beyond 40 years in the best conditions of safety and performance, considering the significant investment linked to the third ten-year inspections and the post-Fukushima improvements on the one hand, and the energy needs of France on the other.
This target is consistent with trends observed around the world for reactors using similar technologies. To this end, EDF has implemented industrial and R&D action plans. Actions have been launched to renew the major components that can be renewed. Solutions are being studied to demonstrate the capacity of non- replaceable equipment such as the containment building and reactor vessels, to ensure their operation up to 60 years.
An extension to the life of the current nuclear fleet must enable, whilst respecting the absolute priority of nuclear safety, better use of the industrial base it represents.
During his speech on 10 February 2022 in Belfort, the President of the French Republic announced that he wanted to “extend the lifespan of all reactors that can be extended” and that “no nuclear reactor in operation will be closed in the future (...), except for safety reasons”. The President also stated that he had asked EDF to “study the conditions necessary for extending the life of nuclear power plants beyond fifty years”, thus paving the way for the continued operation of all nuclear reactors beyond their 50-year lifespan.
In the first half of 2016, all the technical, economic and governance conditions necessary to match the amortization period of the 900MW power plants in the French nuclear fleet with the Group’s industrial strategy were met. On 28 July 2016, the Board of Directors of EDF approved the extension of the accounting amortisation periods of PWR 900MW series power plants in France (excluding Fessenheim) from 40 to 50 years from 1 January 2016 onwards, without prejudice to the ASN’s position on the measures suggested by EDF for each of the nuclear units in question.
On 23 February 2021, the ASN ruled on the terms for continuing to operate 900MW reactors beyond their fourth scheduled inspection. The ASN “deems that the measures put forward by EDF, coupled with its own recommendations, open up the way for the continued operation of 900MW reactors for ten years after their fourth regular re-examination”.
The rollout of changes to the first phase of works during fourth ten-year inspections (VD4) is continuing on schedule, thanks to the lessons learned from the first VD4 inspections (as of the end of 2022, 10 VD4 900 inspections had been completed). The launch of the first changes to the second phase of works is underway for an initial series unit, with the partial inspection of Tricastin 1 in 2023. The results of these VD4s are satisfactory. They show a strong capacity for industrialising operations, as well as for involving the industrial fabric necessary for the success of this project.
In 2021, the process for examining the generic phase of the fourth periodic review of the 1,300MW series was initiated with the ASN. The initial series unit (TTS) is planned for Paluel in 2026.
On 28 July 2021, the Board of Directors approved extending the depreciation period of the 1,300MW PWR plants from 40 years to 50 years in the consolidated financial statements. This accounting estimate does not assume that continued operation will be authorised: such authorisation will be granted unit by unit by the Safety Authority after each ten-year inspection, as required by law.
The 30-year review of the 1,450MW series has been initiated by the ASN with a TTS planned for 2029. The accounting period for the 1,450MW series currently remains at 40 years. Nevertheless, the subsequent extension of the depreciation period of these series remains an industrial objective for the Group.
On 22 January 2015, EDF’s Board of Directors approved in principle a major overhaul programme (the “Grand Carénage”) aimed at refurbishing the French nuclear fleet, enhancing reactor safety and, if conditions allow, continuing their operation beyond a 40-year lifespan. This programme incorporates additional safety improvements identified following the Fukushima accident.
This industrial programme is being gradually implemented in compliance with:
On 31 March 2022, the Board of Directors of EDF approved the principle of continuing the Grand Carénage programme, with a new roadmap for 2022-2028 incorporating feedback from the examinations underway with the ASN, in particular for VD4 900 and 1,300 inspections and the launch of the Studies phase for the VD5 900 inspections.
At the end of 2022, €36.2 billion have been invested since 2014 of which €4,5 billion for 2022.
On the occasion of the launch of Phase 2 of the Grand Carénage, investments for 2022-2028 were valued at €33 billion in current euros, i.e. €31.2 billion in 2021 euros.
In addition, works relating to stress corrosion have entailed investment expenditure of an estimated €0.8 billion in current euros (€0.7 billion euros in 2021 euros) between 2022 and 2024.
Industrial work will continue beyond 2028. Capital expenditure will remain high beyond this date.
(1) See note 15 in the appendix to the consolidated financial statements for the year ended 31 December 2022 in section 6.1.
(2) See EDF’s press release of 4 November 2022 “GE and EDF sign a binding agreement related to EDF’s acquisition of GE Steam Power’s nuclear activities”.
