Universal Registration Document 2022

Introduction

26.5.3 Analyses of sensitivity to macro-economic assumptionS

Sensitivity to assumptions concerning costs, inflation rate, long-term discount rate, and disbursement schedules can be estimated through comparison of the gross amount estimated under year-end economic conditions with the present value of the amount.

  31/12/2022 31/12/2021
Provisions related to nuclear generation within the scope of the Law of 28 June 2006 (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

* 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.

The cumulative disbursements of nuclear expenses (based on gross values at year-end economic conditions) are distributed as follows:

  2022
Provisions related to nuclear generation within the scope of the Law of 28 June 2006 Costs based on year-end economic conditions
(in millions of euros) Disbursement expected within 10 years Disbursement expected after 10 years* 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

* 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.