The following table shows sales by segment, excluding inter-segment eliminations:
| (in millions of euros) | 2022 | 2021 | Variation | Variation (%) | Organic Variation (%) |
|---|---|---|---|---|---|
(in millions of euros) France – Generation and supply (1) |
2022 48,686 |
2021 33,182 |
Variation 15,504 |
Variation (%) 46.7 |
Organic Variation (%) 46.7 |
(in millions of euros) France – Regulated activities (2) |
2022 18,082 |
2021 17,564 |
Variation 518 |
Variation (%) 2.9 |
Organic Variation (%) 2.9 |
(in millions of euros) EDF Renewables |
2022 2,158 |
2021 1,767 |
Variation 391 |
Variation (%) 22.1 |
Organic Variation (%) 17.5 |
(in millions of euros) Dalkia |
2022 6,663 |
2021 5,196 |
Variation 1,467 |
Variation (%) 28.2 |
Organic Variation (%) 28.2 |
(in millions of euros) Framatome |
2022 4,122 |
2021 3,362 |
Variation 760 |
Variation (%) 22.6 |
Organic Variation (%) 16.8 |
(in millions of euros) United Kingdom |
2022 16,098 |
2021 10,114 |
Variation 5,984 |
Variation (%) 59.2 |
Organic Variation (%) 61.3 |
(in millions of euros) Italy |
2022 29,302 |
2021 11,212 |
Variation 18,090 |
Variation (%) 161.3 |
Organic Variation (%) 160.1 |
(in millions of euros) Other international |
2022 5,659 |
2021 3,353 |
Variation 2,306 |
Variation (%) 68.8 |
Organic Variation (%) 57.7 |
(in millions of euros) Other activities |
2022 19,724 |
2021 3,905 |
Variation 15,819 |
Variation (%) n.a |
Organic Variation (%) n.a |
(in millions of euros) Inter-segment eliminations |
2022 (7,018) |
2021 (5,194) |
Variation (1,824) |
Variation (%) n.a |
Organic Variation (%) n.a |
(in millions of euros) GROUP SALES |
2022 143,476 |
2021 84,461 |
Variation 59,015 |
Variation (%) 69.9 |
Organic Variation (%) 69.4 |
n.a: not applicable.
(1) Generation, supply and optimisation in mainland France, and sales of engineering and consulting services.
(2) Regulated activities comprise distribution in mainland France, which is carried out by Enedis, EDF’s island activities and the activities of Électricité de Strasbourg. In
mainland France, distribution network activities are regulated via the network access tariff TURPE (Tarifs d’Utilisation des Réseaux Publics d’Électricité). Enedis is an
independent EDF subsidiary as defined in the French Energy Code.
Sales by the France – Generation and supply segment amounted to €48,686 million in 2022, up by €15,504 million (+46.7% in organic growth) from 2021.
A significant rise in downstream market prices led to higher downstream income (+€7,232 million). This increase includes the impact of the measures to limit the rise in regulated electricity sales to 4% (principally raising the ARENH ceiling and a tariff cap), with an effect of -€1,410 million (no impact in EBITDA).
The milder weather in 2022 had a negative impact of €478 million.
Sales under the ARENH scheme to alternative suppliers were up by €895 million as a result of the additional volumes made available in application of a decree issued in March (this had a negative effect in EBITDA).
Resales of electricity subject to purchase obligations were up by €4,956 million, mainly due to a rise in spot and forward market prices since the third quarter of 2021 (the effect on EBITDA was neutral because expenses relating to purchase obligations are covered by the CSPE compensation mechanism).
Capacity auction sales also had a positive impact of €570 million.
Finally, the results of sales activities subsidiaries and aggregators, and gas sales, contributed +€2,404 million of the increase in sales (with no significant effect in EBITDA).
Nuclear power output in France totalled 279TWh in 2022, down by 81.7TWh from 2021. This decrease is principally explained by reactor outages for inspections to detect and repair stress corrosion. Gross hydropower output stood at 32.4TWh (1), down by 9.4TWh, mainly due to very poor hydrological conditions in 2022 (see section 5.1.2.4 “Weather conditions: temperatures and rainfall”).
Fossil-fired generation plants were therefore used to produce 11.2TWh, +0.7TWh more than in 2021, in a context of favourable price conditions, and despite the shutdown of the coal-fired facility at Le Havre in late March 2021.
Sales volumes to final customers (a market segment that includes the local distribution companies and excludes foreign operators) decreased by -12.8TWh, including 5.9TWh attributable to climate effects. The decline in consumption (principally late in the year, thanks to more restrained energy use) is estimated at - 5.4TWh.
EDF was a net buyer on the wholesale markets to the extent of 13.8TWh, due to the substantially lower nuclear and hydropower output, whereas in 2021 it was a net seller to the extent of 69.5TWh.
Sales by the France – Regulated activities segment amounted to €18,082 million in 2022, an increase of €518 million (+2.9%) compared to 2021. Sales by Électricité de Strasbourg and IES-PEI were up by +€653 million, reflecting the increase in prices on the gas market, and the pre-tax rise in regulated sales tariffs.
The €130 million decrease in sales by Enedis (2) principally relates to a volume effect (-€345 million) and an unfavourable climate effect (-€365 million). These effects were partly counterbalanced by a favourable price effect (+€526 million), mainly attributable to the indexed adjustment of the TURPE 6 distribution tariff and higher connection income (+€66 million).
EDF Renewables sales totalled €2,158 million, an organic increase of €310 million (+17.5%) compared to 2021, as a result of improved output by plants in operation. The volume of energy produced totalled 20.6TWh at 31 December 2022, corresponding to organic growth of 21%, particularly thanks to new capacities commissioned during the second half of 2021 and in 2022, and better wind conditions, principally in North America, the United Kingdom and Brazil. Positive price effects in the United Kingdom also contributed to this growth.
Sales by Dalkia amounted to €6,663 million in 2022, an organic increase of €1,466 million (+28.2%) from 2021.
This growth was principally driven by the significant increase in gas prices, which more than doubled compared to 2021. Sales also benefited from dynamic business activity in the United Kingdom and France.
