Universal Registration Document 2022

Details of the change in provisions related to nuclear generation in 2021 are as follows:

This graph shows the details of the change in provisions related to nuclear generation in 2021 (in million of euros).

Provisions at 31/12/2021: 64,772

Increases: +873

Decreases: -2,618

Discount effect: +1,307

Translation adjustments: -869

Other movements: - 4,303

Provisions at 31/12/2022: 59,162

15.1 Provisions related to nuclear generation and dedicated assets in France

15.1.1 Nuclear provisions

In France, the provisions established by EDF SA for the nuclear generation fleet result principally 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 above:

EDF books provisions to cover all obligations related to the nuclear facilities it operates;
EDF also holds dedicated assets for secure financing of long-term obligations (see note 15.1.2).

The calculation of provisions incorporates a level of risks and uncertainties as appropriate to the operations concerned. It also includes uncertainty factors as described in note 1.3.4.2.

Details of changes in provisions for the back-end of the nuclear cycle, decommissioning and last cores in France are as follows:

(in millions of euros)	Notes	31/12/2021	Increases	Decreases	Discount effect	Other movements	31/12/2022
Provisions for spent fuel management	Provisions for spent fuel management Notes 15.1.1.1	Provisions for spent fuel management 31/12/2021 11,819	Provisions for spent fuel management Increases 417	Provisions for spent fuel management Decreases (849)	Provisions for spent fuel management Discount effect 51	Provisions for spent fuel management Other movements (59)	Provisions for spent fuel management 31/12/2022 11,379
amount unrelated to the operating cycle	amount unrelated to the operating cycle Notes	amount unrelated to the operating cycle 31/12/2021 1,726	amount unrelated to the operating cycle Increases 23	amount unrelated to the operating cycle Decreases (41)	amount unrelated to the operating cycle Discount effect (85)	amount unrelated to the operating cycle Other movements (16)	amount unrelated to the operating cycle 31/12/2022 1,607
amount outside the scope of the Law of 28 June 2006	amount outside the scope of the Law of 28 June 2006 Notes	amount outside the scope of the Law of 28 June 2006 31/12/2021 1,136	amount outside the scope of the Law of 28 June 2006 Increases 44	amount outside the scope of the Law of 28 June 2006 Decreases (41)	amount outside the scope of the Law of 28 June 2006 Discount effect 56	amount outside the scope of the Law of 28 June 2006 Other movements -	amount outside the scope of the Law of 28 June 2006 31/12/2022 1,195
Provisions for long-term radioactive waste management	Provisions for long-term radioactive waste management Notes 15.1.1.2	Provisions for long-term radioactive waste management 31/12/2021 14,233	Provisions for long-term radioactive waste management Increases 128	Provisions for long-term radioactive waste management Decreases (204)	Provisions for long-term radioactive waste management Discount effect (1,308)	Provisions for long-term radioactive waste management Other movements (374)	Provisions for long-term radioactive waste management 31/12/2022 12,475
Provisions for the back-end of the nuclear cycle	Provisions for the back-end of the nuclear cycleNotes	Provisions for the back-end of the nuclear cycle31/12/202126,052	Provisions for the back-end of the nuclear cycleIncreases545	Provisions for the back-end of the nuclear cycleDecreases(1,053)	Provisions for the back-end of the nuclear cycleDiscount effect(1,257)	Provisions for the back-end of the nuclear cycleOther movements(433)	Provisions for the back-end of the nuclear cycle31/12/202223,854
Provisions for nuclear plant decommissioning	Provisions for nuclear plant decommissioning Notes 15.1.1.3	Provisions for nuclear plant decommissioning 31/12/2021 17,730	Provisions for nuclear plant decommissioning Increases 273	Provisions for nuclear plant decommissioning Decreases (201)	Provisions for nuclear plant decommissioning Discount effect 340	Provisions for nuclear plant decommissioning Other movements (1,048)	Provisions for nuclear plant decommissioning 31/12/2022 17,094
Provisions for last cores	Provisions for last cores Notes 15.1.1.4	Provisions for last cores 31/12/2021 2,660	Provisions for last cores Increases -	Provisions for last cores Decreases -	Provisions for last cores Discount effect 104	Provisions for last cores Other movements (330)	Provisions for last cores 31/12/2022 2,434
Provisions for decommissioning and last cores	Provisions for decommissioning and last coresNotes	Provisions for decommissioning and last cores31/12/202120,390	Provisions for decommissioning and last coresIncreases273	Provisions for decommissioning and last coresDecreases(201)	Provisions for decommissioning and last coresDiscount effect444	Provisions for decommissioning and last coresOther movements(1,378)	Provisions for decommissioning and last cores31/12/202219,528
PROVISIONS RELATED TO NUCLEAR GENERATION	PROVISIONS RELATED TO NUCLEAR GENERATIONNotes	PROVISIONS RELATED TO NUCLEAR GENERATION31/12/202146,442	PROVISIONS RELATED TO NUCLEAR GENERATIONIncreases818	PROVISIONS RELATED TO NUCLEAR GENERATIONDecreases(1,254)	PROVISIONS RELATED TO NUCLEAR GENERATIONDiscount effect(813)	PROVISIONS RELATED TO NUCLEAR GENERATIONOther movements(1,811)	PROVISIONS RELATED TO NUCLEAR GENERATION31/12/202243,382
Provisions related to nuclear generation within the scope of the Law of 28 June 2006 ⁽¹⁾	Provisions related to nuclear generation within the scope of the Law of 28 June 2006 ⁽¹⁾Notes	Provisions related to nuclear generation within the scope of the Law of 28 June 2006 ⁽¹⁾31/12/2021 45,306	Provisions related to nuclear generation within the scope of the Law of 28 June 2006 ⁽¹⁾Increases 774	Provisions related to nuclear generation within the scope of the Law of 28 June 2006 ⁽¹⁾Decreases (1,213)	Provisions related to nuclear generation within the scope of the Law of 28 June 2006 ⁽¹⁾Discount effect (869)	Provisions related to nuclear generation within the scope of the Law of 28 June 2006 ⁽¹⁾Other movements (1,811)	Provisions related to nuclear generation within the scope of the Law of 28 June 2006 ⁽¹⁾31/12/2022 42,187
Provisions related to nuclear generation outside the scope of the Law of 28 June 2006 ⁽¹⁾	Provisions related to nuclear generation outside the scope of the Law of 28 June 2006 ⁽¹⁾Notes	Provisions related to nuclear generation outside the scope of the Law of 28 June 2006 ⁽¹⁾31/12/2021 1,136	Provisions related to nuclear generation outside the scope of the Law of 28 June 2006 ⁽¹⁾Increases 44	Provisions related to nuclear generation outside the scope of the Law of 28 June 2006 ⁽¹⁾Decreases (41)	Provisions related to nuclear generation outside the scope of the Law of 28 June 2006 ⁽¹⁾Discount effect 56	Provisions related to nuclear generation outside the scope of the Law of 28 June 2006 ⁽¹⁾Other movements -	Provisions related to nuclear generation outside the scope of the Law of 28 June 2006 ⁽¹⁾31/12/2022 1,195

(1) 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).

The discount effect principally comprises the €1,830 million cost of unwinding the discount, and the €(2,548) million effects of the change in the real discount rate in 2022 for provisions not backed by assets, which were recorded in the income statement (cost of unwinding the discount).

Other movements mainly include the €(2,061) million effect of the change in the real discount rate at 31 December 2022 for provisions backed by assets.

In 2021, the change in EDF SA's provisions related to nuclear generation was mainly explained by the extension of the depreciation period of 1300MW-series power plants, which had an impact of €(1,016) million at 1 January 2021 (see note 1.4.1 to the consolidated financial statements at 31 December 2021), 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.

Concerning non-EDF installations:

EDF, COGEMA (now Orano Recyclage) and the French Atomic Energy Commission (Commissariat à l’Énergie Atomique or CEA) signed an agreement in December 2004 which transferred the management and financing of final shutdown, decommissioning and waste recovery and reconditioning for the UP1 reprocessing facility at Marcoule to the CEA. In return, EDF paid the CEA a one-time financial contribution covering its full share of the cost of outstanding operations, while remaining the owner of its final waste and bearing only the transport and storage costs;

Universal Registration Document 2022

Introduction

15.1 Provisions related to nuclear generation and dedicated assets in France

15.1.1 Nuclear provisions