| (in millions of euros) | Cumulative amounts at 31/12/2021 | Increases | Decreases | Cumulative amounts at 31/12/2022 |
|---|---|---|---|---|
| Land, buildings and land improvements | Land, buildings and land improvements Cumulative amounts at 31/12/202112,348 |
Land, buildings and land improvements Increases287 |
Land, buildings and land improvements Decreases64 |
Land, buildings and land improvements Cumulative amounts at 31/12/202212,571 |
| Nuclear power plants | Nuclear power plants Cumulative amounts at 31/12/202165,898 |
Nuclear power plants Increases3,246 |
Nuclear power plants Decreases1,459 |
Nuclear power plants Cumulative amounts at 31/12/202267,685 |
| Machinery and plant other than networks | Machinery and plant other than networks Cumulative amounts at 31/12/202113,471 |
Machinery and plant other than networks Increases267 |
Machinery and plant other than networks Decreases168 |
Machinery and plant other than networks Cumulative amounts at 31/12/202213,570 |
| EDF-owned networks | EDF-owned networks Cumulative amounts at 31/12/20211,155 |
EDF-owned networks Increases39 |
EDF-owned networks Decreases2 |
EDF-owned networks Cumulative amounts at 31/12/20221,192 |
| Other tangible assets | Other tangible assets Cumulative amounts at 31/12/20211,803 |
Other tangible assets Increases126 |
Other tangible assets Decreases96 |
Other tangible assets Cumulative amounts at 31/12/20221,833 |
| Property, plant and equipment owned by EDF | Property, plant and equipment owned by EDFCumulative amounts at 31/12/202194,675 | Property, plant and equipment owned by EDFIncreases3,965 | Property, plant and equipment owned by EDFDecreases1,789 | Property, plant and equipment owned by EDFCumulative amounts at 31/12/202296,851 |
| Land, buildings and land improvements | Land, buildings and land improvements Cumulative amounts at 31/12/202110,845 |
Land, buildings and land improvements Increases124 |
Land, buildings and land improvements Decreases22 |
Land, buildings and land improvements Cumulative amounts at 31/12/202210,947 |
| Machinery and plant other than networks | Machinery and plant other than networks Cumulative amounts at 31/12/20211,866 |
Machinery and plant other than networks Increases91 |
Machinery and plant other than networks Decreases20 |
Machinery and plant other than networks Cumulative amounts at 31/12/20221,937 |
| Concession networks | Concession networks Cumulative amounts at 31/12/20213,297 |
Concession networks Increases217 |
Concession networks Decreases25 |
Concession networks Cumulative amounts at 31/12/20223,489 |
| Other tangible assets | Other tangible assets Cumulative amounts at 31/12/202121 |
Other tangible assets Increases- |
Other tangible assets Decreases- |
Other tangible assets Cumulative amounts at 31/12/202221 |
| Property, plant and equipment operated under concessions (1) | Property, plant and equipment operated under concessions (1)Cumulative amounts at 31/12/202116,029 | Property, plant and equipment operated under concessions (1)Increases432 | Property, plant and equipment operated under concessions (1)Decreases67 | Property, plant and equipment operated under concessions (1)Cumulative amounts at 31/12/202216,394 |
| Property, plant and equipment in progress (2) | Property, plant and equipment in progress (2)Cumulative amounts at 31/12/202120,872 | Property, plant and equipment in progress (2)Increases5,685 | Property, plant and equipment in progress (2)Decreases4,445 | Property, plant and equipment in progress (2)Cumulative amounts at 31/12/202222,112 |
| Gross values (3) | Gross values (3)Cumulative amounts at 31/12/2021131,576 | Gross values (3)Increases10,082 | Gross values (3)Decreases6,301 | Gross values (3)Cumulative amounts at 31/12/2022135,357 |
| Land, buildings and land improvements | Land, buildings and land improvements Cumulative amounts at 31/12/2021(8,075) |
Land, buildings and land improvements Increases(298) |
Land, buildings and land improvements Decreases(55) |
Land, buildings and land improvements Cumulative amounts at 31/12/2022(8,318) |
| Nuclear power plants (4) | Nuclear power plants (4)Cumulative amounts at 31/12/2021(44,139) |
Nuclear power plants (4)Increases(4,616) |
Nuclear power plants (4)Decreases(1,470) |
Nuclear power plants (4)Cumulative amounts at 31/12/2022(47,285) |
| Machinery and plant other than networks | Machinery and plant other than networks Cumulative amounts at 31/12/2021(9,690) |
Machinery and plant other than networks Increases(483) |
Machinery and plant other than networks Decreases(163) |
Machinery and plant other than networks Cumulative amounts at 31/12/2022(10,010) |
| EDF-owned networks | EDF-owned networks Cumulative amounts at 31/12/2021(593) |
EDF-owned networks Increases(34) |
EDF-owned networks Decreases(2) |
EDF-owned networks Cumulative amounts at 31/12/2022(625) |
| Other tangible assets | Other tangible assets Cumulative amounts at 31/12/2021(1,217) |
Other tangible assets Increases(137) |
Other tangible assets Decreases(93) |
Other tangible assets Cumulative amounts at 31/12/2022(1,261) |
| Property, plant and equipment owned by EDF | Property, plant and equipment owned by EDFCumulative amounts at 31/12/2021(63,714) | Property, plant and equipment owned by EDFIncreases(5,568) | Property, plant and equipment owned by EDFDecreases(1,783) | Property, plant and equipment owned by EDFCumulative amounts at 31/12/2022(67,499) |
| Land, buildings and land improvements | Land, buildings and land improvements Cumulative amounts at 31/12/2021(6,822) |
Land, buildings and land improvements Increases(155) |
Land, buildings and land improvements Decreases(20) |
Land, buildings and land improvements Cumulative amounts at 31/12/2022(6,957) |
| Machinery and plant other than networks | Machinery and plant other than networks Cumulative amounts at 31/12/2021(1,118) |
Machinery and plant other than networks Increases(38) |
Machinery and plant other than networks Decreases(13) |
Machinery and plant other than networks Cumulative amounts at 31/12/2022(1,143) |
| Concession networks | Concession networks Cumulative amounts at 31/12/2021(1,392) |
Concession networks Increases(96) |
Concession networks Decreases(22) |
Concession networks Cumulative amounts at 31/12/2022(1,466) |
| Other tangible assets | Other tangible assets Cumulative amounts at 31/12/2021(11) |
Other tangible assets Increases- |
Other tangible assets Decreases- |
Other tangible assets Cumulative amounts at 31/12/2022(11) |
| Property, plant and equipment operated under concessions | Property, plant and equipment operated under concessionsCumulative amounts at 31/12/2021(9,343) | Property, plant and equipment operated under concessionsIncreases(289) | Property, plant and equipment operated under concessionsDecreases(55) | Property, plant and equipment operated under concessionsCumulative amounts at 31/12/2022(9,577) |
| Property, plant and equipment in progress | Property, plant and equipment in progressCumulative amounts at 31/12/2021(89) | Property, plant and equipment in progressIncreases(3) | Property, plant and equipment in progressDecreases(60) | Property, plant and equipment in progressCumulative amounts at 31/12/2022(32) |
| Depreciation and impairment | Depreciation and impairmentCumulative amounts at 31/12/2021(73,146) | Depreciation and impairmentIncreases(5,860) | Depreciation and impairmentDecreases(1,898) | Depreciation and impairmentCumulative amounts at 31/12/2022(77,108) |
| NET VALUES | NET VALUESCumulative amounts at 31/12/202158,430 | NET VALUESIncreases4,222 | NET VALUESDecreases4,403 | NET VALUESCumulative amounts at 31/12/202258,249 |
(1) Property, plant and equipment operated under concessions concern the Island Energy Systems public electricity distribution concessions, and hydropower concessions.
(2) Investments during the year mainly concern equipment for existing power plants under the Grand Carénage programme (for replacement of major components, particularly steam generators, and work done in connection with the 10-year and regular inspections), and construction of the EPR plant (Flamanville 3). At 31 December 2022, capitalised costs associated with the stress corrosion phenomenon amount to €376 million (see note 2.1.3).
(3) The capitalised value of the Flamanville 3 EPR project in the financial statements at 31 December 2022 is €12,464 million (€12,155 million in assets in progress and €309 million in assets commissioned). In addition to the construction cost, this amount includes an inventory of spare parts and capitalised amounts totalling €635 million for related projects (notably the initial comprehensive inspection and North Area development), and €902 million of pre-operating expenses and other tangible assets related to the Flamanville project, giving a total accumulated construction cost at historical value of €10,927 million. Accumulated depreciation and amortisation recognised at 31 December 2022 in respect of assets in operation amounts to €112 million. On 16 December 2022, EDF announced an adjustment to the schedule for the Flamanville 3 project, and the estimated cost to completion was raised from €12.7 billion to €13.2 billion in 2015 euros, excluding interim interest. The additional costs relating to work for repairs to the main secondary circuit welds at the Flamanville 3 EPR are abnormal costs that cannot be included in the production cost of an asset. They are recorded in operating expenses and amount to €658 million in 2022, comprising €617 million of services and other purchases used (see note 7 (3)) and €41 million of personnel expenses (see note 9). The cumulative total of these costs is €1.7 billion. The additional exceptional costs induced by the readjustment announced on 16 December 2022, principally relating to stress-relieving heat treatment on the repaired welds, will also be recognised in operating expenses.
(4) The increase in depreciation and impairment of nuclear power plants in 2022 is explained by the effects of changes in the real discount rate at 31 December 2022 on impairment of related and underlying assets in the case of provisions backed by assets (see note 26).
As stated in note 1.2.1, the depreciation period of nuclear power plants currently in operation in France, i.e. thirty-two 900MW reactors, twenty 1300MW reactors and four 1450MW reactors, is 50 years for 900MW-series plants (since 1 January 2016) and 1300MW-series plants (since 1 January 2021), and 40 years for N4-series plants which do not yet fulfil the conditions for a longer depreciation period.
Under France’s multi-year energy programme (PPE, standing for Programmation Pluriannuelle de l’Énergie) for the period 2019-2028, adopted in April 2020, twelve French nuclear reactors are to be shut down by 2035. As this includes the shutdowns of two 900MW reactors in 2027 and 2028 ahead of their fifth 10-year inspection, an early shutdown scenario for two 900MW reactors has been adopted. Its effects on nuclear provisions and depreciation in EDF’s financial statements are not significant.
In view of France’s Energy and Climate law of 8 November 2019, the end of the depreciation period for the Cordemais coal-fired plant was brought forward to 2026, with a view to the plant continuing to operate as part of the Ecocombust project, after conversion to biomass. On 8 July 2021, EDF announced that it had decided to terminate the Ecocombust project, since the conditions for its continuation were not fulfilled. The Cordemais plant will remain in operation until 2024, perhaps even 2026, to meet the requirements of the electricity system as defined by RTE, in compliance with the Energy and Climate law which allows the plant to be used at full capacity for a maximum of about 750 hours a year. Decrees 2022-123 of February 2022 and 2022-1233 of September 2022 took the exceptional step of raising the limit for greenhouse gas emissions by fossil-fired electricity generating installations, removing the cap on operation hours for 2022
