| Provisions related to nuclear generation within the scope of the Law of 28 June 2006 | 31/12/2022 | 31/12/2021 | ||
|---|---|---|---|---|
| (in millions of euros) | Costs based on year-end economic conditions | Amounts in provisions at present value | Costs based on year-end economic conditions | Amounts in provisions at present value |
| Spent fuel management | 16,194 | 10,184 | 16,121 | 10,683 |
| - amount unrelated to the operating cycle | 3,417 | 1,607 | 3,282 | 1,726 |
| Long-term radioactive waste management | 36,996 | 12,475 | 36,779 | 14,233 |
| BACK-END NUCLEAR CYCLE EXPENSES | 53,190 | 22,659 | 52,900 | 24,916 |
| Decommissioning of nuclear plants in operation | 21,381 | 12,125 | 20,479 | 12,680 |
| Decommissioning of shut-down nuclear plants | 8,219 | 4,969 | 7,718 | 5,050 |
| Last cores | 4,189 | 2,434 | 4,349 | 2,660 |
| DECOMMISSIONING AND LAST CORE EXPENSES | 33,789 | 19,528 | 32,546 | 20,390 |
| PROVISIONS RELATED TO NUCLEAR GENERATION within the scope of the law of 28 June 2006 | 42,187 | 45,306 | ||
The cumulative disbursements of nuclear expenses (based on gross values at year-end economic conditions) are distributed as follows:
| Provisions related to nuclear generation within the scope of the Law of 28 June 2006 |
31/12/2022 |
||
|---|---|---|---|
|
Costs based on year-end economic conditions |
|||
| (in millions of euros) | Disbursement expected within 10 years (1) | Disbursement expected within 10 years (1) | Total |
| Spent fuel management | 7,892 | 8,302 | 16,194 |
| - amount unrelated to the operating cycle | 534 | 2,883 | 3,417 |
| Long-term radioactive waste management | 5,422 | 31,574 | 36,996 |
| BACK-END NUCLEAR CYCLE EXPENSES | 13,314 | 39,876 | 53,190 |
| Decommissioning of nuclear plants in operation | 499 | 20,882 | 21,381 |
| Decommissioning of shut-down nuclear plants | 3,093 | 5,126 | 8,219 |
| Last cores | 499 | 3,690 | 4,189 |
| DECOMMISSIONING AND LAST CORE EXPENSES | 4,091 | 29,698 | 33,789 |
(1) Over a 20-year and 50-year horizon, 22% and 42% respectively of cumulative disbursements (at year-end economic conditions) will concern long-term radioactive waste management provisions, and 36% and 96% respectively will concern decommissioning provisions.
For additional information, the table below shows the estimated impact of a +/-20bp change in the discount rate on the present value of provisions for the back-end of the nuclear cycle, decommissioning of nuclear plants and last cores:
At 31 December 2022
| Amounts in provisions at present value | Sensitivity to discount rate | ||||
|---|---|---|---|---|---|
| Balance sheet provisions | Pre-tax net income | ||||
| (in millions of euros) | +0.20% | -0.20% | +0.20% | -0,20% | |
| Back-end nuclear cycle expenses: | |||||
| spent fuel management | 11,379 | (200) | 213 | 170 | (182) |
| long-term radioactive waste management | 12,475 | (684) | 769 | 541 | (614) |
| Decommissioning and last core expenses: | |||||
| decommissioning of nuclear plants in operation | 12,125 | (518) | 544 | - | - |
| decommissioning of shut-down nuclear plants | 4,969 | (155) | 165 | 154 | (165) |
| last cores | 2,434 | (85) | 90 | - | - |
| TOTAL | 43,382 | (1,642) | 1,781 | 865 | (961) |
| Amount covered by dedicated assets | 31,649 | (1,460) | 1,591 | 764 | (853) |
The impact of a +/-10 base point variation in discount rates on the present value of provisions for the back-end of the nuclear cycle, decommissioning and last cores is estimated at €(837)/894 million, including €444/(490) on the pre-tax net income.
