Universal Registration Document 2022

Obligations can vary noticeably depending on each country’s legislation and regulations, and the technologies and industrial scenarios involved. The breakdown between current and non-current provisions related to nuclear generation is as follows:

	31/12/2022			31/12/2021
(in millions of euros)	Current	Non-current	Total	Current	Non-current	Total
Provisions for the back-end of the nuclear cycle	1,602	24,982	26,584	1,359	28,155	29,514
Provisions for decommissioning and last cores	1,539	31,039	32,578	1,346	33,912	35,258
Provisions related to nuclear generation	3,141	56,021	59,162	2,705	62,067	64,772

The breakdown of provisions by company is shown below:

	EDF	EDF Energy	Belgium	Total
(in millions of euros)	(in millions of euros)EDFNote 15.1	(in millions of euros)EDF Energy Note 15.2	(in millions of euros)BelgiumNote 15.3	(in millions of euros)Total
Provisions for spent fuel management	Provisions for spent fuel management EDF 11,379	Provisions for spent fuel management EDF Energy 1,284	Provisions for spent fuel management Belgium -	Provisions for spent fuel management Total 12,663
Provisions for waste removal and conditioning	Provisions for waste removal and conditioning EDF -	Provisions for waste removal and conditioning EDF Energy 373	Provisions for waste removal and conditioning Belgium -	Provisions for waste removal and conditioning Total 373
Provisions for long-term radioactive waste management	Provisions for long-term radioactive waste management EDF 12,475	Provisions for long-term radioactive waste management EDF Energy 1,066	Provisions for long-term radioactive waste management Belgium 7	Provisions for long-term radioactive waste management Total 13,548
PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLE AT 31/12/2022	PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLE AT 31/12/2022EDF23,854	PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLE AT 31/12/2022EDF Energy2,723	PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLE AT 31/12/2022Belgium7	PROVISIONS FOR THE BACK-END OF THE NUCLEAR CYCLE AT 31/12/2022Total26,584
Provisions for the back-end of the nuclear cycle at 31/12/2021	Provisions for the back-end of the nuclear cycle at 31/12/2021EDF26,052	Provisions for the back-end of the nuclear cycle at 31/12/2021EDF Energy3,455	Provisions for the back-end of the nuclear cycle at 31/12/2021Belgium7	Provisions for the back-end of the nuclear cycle at 31/12/2021Total29,514
Provisions for nuclear plant decommissioning	Provisions for nuclear plant decommissioning EDF 17,094	Provisions for nuclear plant decommissioning EDF Energy 11,296	Provisions for nuclear plant decommissioning Belgium 625	Provisions for nuclear plant decommissioning Total 29,015
Provisions for last cores	Provisions for last cores EDF 2,434	Provisions for last cores EDF Energy 1,129	Provisions for last cores Belgium -	Provisions for last cores Total 3,563
PROVISIONS FOR DECOMMISSIONING AND LAST CORES AT 31/12/2022	PROVISIONS FOR DECOMMISSIONING AND LAST CORES AT 31/12/2022EDF19,528	PROVISIONS FOR DECOMMISSIONING AND LAST CORES AT 31/12/2022EDF Energy12,425	PROVISIONS FOR DECOMMISSIONING AND LAST CORES AT 31/12/2022Belgium625	PROVISIONS FOR DECOMMISSIONING AND LAST CORES AT 31/12/2022Total32,578
Provisions for decommissioning and last cores at 31/12/2021	Provisions for decommissioning and last cores at 31/12/2021EDF20,390	Provisions for decommissioning and last cores at 31/12/2021EDF Energy14,434	Provisions for decommissioning and last cores at 31/12/2021Belgium434	Provisions for decommissioning and last cores at 31/12/2021Total35,258
PROVISIONS RELATED TO NUCLEAR GENERATION AT 31/12/2022	PROVISIONS RELATED TO NUCLEAR GENERATION AT 31/12/2022EDF43,382	PROVISIONS RELATED TO NUCLEAR GENERATION AT 31/12/2022EDF Energy15,148	PROVISIONS RELATED TO NUCLEAR GENERATION AT 31/12/2022Belgium632	PROVISIONS RELATED TO NUCLEAR GENERATION AT 31/12/2022Total59,162
Provisions related to nuclear generation at 31/12/2021	Provisions related to nuclear generation at 31/12/2021EDF46,442	Provisions related to nuclear generation at 31/12/2021EDF Energy17,889	Provisions related to nuclear generation at 31/12/2021Belgium441	Provisions related to nuclear generation at 31/12/2021Total64,772

The movement in provisions for the back-end of the nuclear cycle, provisions for decommissioning and provisions for last cores break down as follows:

(in millions of euros)	31/12/2021	Increases	Decreases	Discount effect	Translation adjustments	Other movements	31/12/2022
Provisions for spent fuel management	Provisions for spent fuel management 31/12/2021 13,220	Provisions for spent fuel management Increases 439	Provisions for spent fuel management Decreases (1,014)	Provisions for spent fuel management Discount effect 245	Provisions for spent fuel management Translation adjustments (72)	Provisions for spent fuel management Other movements (155)	Provisions for spent fuel management 31/12/2022 12,663
Provisions for waste removal and conditioning	Provisions for waste removal and conditioning 31/12/2021 639	Provisions for waste removal and conditioning Increases 1	Provisions for waste removal and conditioning Decreases -	Provisions for waste removal and conditioning Discount effect 80	Provisions for waste removal and conditioning Translation adjustments (25)	Provisions for waste removal and conditioning Other movements (322)	Provisions for waste removal and conditioning 31/12/2022 373
Provisions for long-term radioactive waste management	Provisions for long-term radioactive waste management 31/12/2021 15,655	Provisions for long-term radioactive waste management Increases 130	Provisions for long-term radioactive waste management Decreases (204)	Provisions for long-term radioactive waste management Discount effect (1,126)	Provisions for long-term radioactive waste management Translation adjustments (63)	Provisions for long-term radioactive waste management Other movements (844)	Provisions for long-term radioactive waste management 31/12/2022 13,548
Provisions for the back-end of the nuclear cycle	Provisions for the back-end of the nuclear cycle31/12/202129,514	Provisions for the back-end of the nuclear cycleIncreases570	Provisions for the back-end of the nuclear cycleDecreases(1,218)	Provisions for the back-end of the nuclear cycleDiscount effect(801)	Provisions for the back-end of the nuclear cycleTranslation adjustments(160)	Provisions for the back-end of the nuclear cycleOther movements(1,321)	Provisions for the back-end of the nuclear cycle31/12/202226,584
Provisions for nuclear plant decommissioning	Provisions for nuclear plant decommissioning 31/12/2021 30,759	Provisions for nuclear plant decommissioning Increases 303	Provisions for nuclear plant decommissioning Decreases (824)	Provisions for nuclear plant decommissioning Discount effect 1,979	Provisions for nuclear plant decommissioning Translation adjustments (637)	Provisions for nuclear plant decommissioning Other movements (2,565)	Provisions for nuclear plant decommissioning 31/12/2022 29,015
Provisions for last cores	Provisions for last cores 31/12/2021 4,499	Provisions for last cores Increases -	Provisions for last cores Decreases (576)	Provisions for last cores Discount effect 129	Provisions for last cores Translation adjustments (72)	Provisions for last cores Other movements (417)	Provisions for last cores 31/12/2022 3,563
Provisions for decommissioning and last cores	Provisions for decommissioning and last cores31/12/202135,258	Provisions for decommissioning and last coresIncreases303	Provisions for decommissioning and last coresDecreases(1,400)	Provisions for decommissioning and last coresDiscount effect2,108	Provisions for decommissioning and last coresTranslation adjustments(709)	Provisions for decommissioning and last coresOther movements(2,982)	Provisions for decommissioning and last cores31/12/202232,578
PROVISIONS RELATED TO NUCLEAR GENERATION	PROVISIONS RELATED TO NUCLEAR GENERATION31/12/202164,772	PROVISIONS RELATED TO NUCLEAR GENERATIONIncreases873	PROVISIONS RELATED TO NUCLEAR GENERATIONDecreases(2,618)	PROVISIONS RELATED TO NUCLEAR GENERATIONDiscount effect1,307	PROVISIONS RELATED TO NUCLEAR GENERATIONTranslation adjustments(869)	PROVISIONS RELATED TO NUCLEAR GENERATIONOther movements(4,303)	PROVISIONS RELATED TO NUCLEAR GENERATION31/12/202259,162
Current portion	Current portion 31/12/2021 2,705	Current portion Increases	Current portion Decreases	Current portion Discount effect	Current portion Translation adjustments	Current portion Other movements	Current portion 31/12/2022 3,141
Non-current portion	Non-current portion 31/12/2021 62,067	Non-current portion Increases	Non-current portion Decreases	Non-current portion Discount effect	Non-current portion Translation adjustments	Non-current portion Other movements	Non-current portion 31/12/2022 56,021

The change in provisions related to nuclear generation in 2022 is mainly due to:

a 50 base point increase in the real discount rate in France (see note 15.1.1.5): the corresponding effects of €(4,069) million are presented in the “Discount effect” (€(2,548) million) for changes in provisions adjusted via profit and loss, and in “Other movements” (€(2,061) million) for changes in provisions backed by assets (assets associated with provisions and underlying assets);
an increase in the real discount rate in the United Kingdom (particularly +100 base points on provisions for the back-end of the nuclear cycle and decommissioning – see note 15.2.4): the corresponding effects are presented in “Other movements” (€(2,934) million) for changes in these provisions backed by assets (specifically, the receivable representing reimbursements due from the Nuclear Liabilities Fund (NLF) and the British government in the case of provisions for the back-end of the nuclear cycle and decommissioning, or associated assets and underlying assets in the case of provisions for last cores).

Universal Registration Document 2022

Introduction