In almost all cases, commitments given are reciprocal, and the third parties concerned are under an obligation to supply EDF with assets or services related to operating, investing and financing transactions.
In the course of its ordinary generation and supply activities, EDF has entered into long-term contracts for purchases of electricity, other energies and commodities and nuclear fuel, for periods of up to 20 years.
At 31 December 2022, these commitments mature as follows:
| Maturity | ||||||
|---|---|---|---|---|---|---|
| (in millions of euros) | < 1 year | 1-5 years | 5-10 years | > 10 years | 31/12/2022 | 31/12/2021 |
| Electricity purchases and related services | 8,686 | 5,496 | 3,837 | 5,675 | 23,694 | 18,792 |
| Nuclear fuel purchases | 2,125 | 6,285 | 5,141 | 1,300 | 14,851 | 14,644 |
| FUEL AND ENERGY PURCHASE COMMITMENTS | 10,811 | 11,781 | 8,978 | 6,975 | 38,545 | 33,436 |
Electricity purchase commitments mainly concern:
In addition to the obligations reported above and under Article 10 of the Law of 10 February 2000, in mainland France EDF is obliged to purchase, at the producer’s request and subject to compliance with certain technical features, the power produced by co-generation plants and renewable energy generation units (wind turbines, small hydro-electric plants, photovoltaic power, etc.).
The additional costs generated by this obligation are compensated, after validation by the CRE, by the CSPE. These purchase obligations total 50TWh for 2022 (54TWh in 2021), including 6TWh for co-generation (7TWh in 2021), 22TWh for wind power (25TWh in 2021), 13TWh for photovoltaic power (11TWh in 2021) and 3TWh for hydropower (4TWh in 2021).
Commitments for purchases of nuclear fuel arise from supply contracts for the nuclear plants intended to cover EDF’s needs for uranium and fluoration, enrichment and fuel assembly fabrication services.
These are commitments undertaken by EDF when it signs orders relating to operations or contracts in progress, related guarantees, and commitments as lessee under irrevocable operating leases principally for premises, equipment and vehicles. The corresponding rents are subject to renegotiation at intervals defined in the contracts.
Investment commitments essentially comprise commitments for acquisitions of property, plant and equipment.
These are financing commitments made by EDF to its subsidiaries. The increase in these commitments principally concerns EDF Trading (€2,841 million comprising €1,441 million to finance margin calls on the energy market and €1,400 million to finance purchase obligations) and EDF International (€870 million for the financing of the HPC project).
These commitments mainly comprise:
These commitments correspond to the total value of credit lines available to EDF from various banks.
In the course of its business, EDF has signed long-term electricity sale contracts, principally:
Gas purchase commitments are given by EDF in connection with its expanding gas supply business.
Gas purchases for supply, delivery and storage are mostly undertaken through long-term contracts and forward purchases from EDF Trading.
In 2020, EDF signed a 5-year purchase contract for 3 billion m3 of gas per year from Norway.
