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1、2022 ANNUAL RESULTS2022 ANNUAL RESULTS2DISCLAIMERThis presentation is for information purposes only and does not constitute an offer or solicitation to sell or buy instruments,part of thecompany or the assets described here,in the US or any other country.This presentation contains forward-looking st
2、atements or information.While EDF believes that the expectations reflected in theseforward-looking statements are based on reasonable assumptions at the time they were made,these assumptions are fundamentallyuncertain and imply a certain amount of risk and uncertainty which is beyond the control of
3、EDF.As a result,EDF cannot guarantee thatthese assumptions will materialise.Future events and actual financial and other outcomes may differ materially from the assumptionsused in these forward-looking statements,including,and not limited to,potential timing differences and the completion of transac
4、tionsdescribed therein.Risks and uncertainties(notably linked to the economic,financial,competition,regulatory and climate backdrop)may include changes ineconomic and business trends,regulations,as well as those described or identified in the publicly-available documents filed by EDF withthe French
5、financial markets authority(AMF),including those presented in Section 2.2“Risks to which the Group is exposed”of the EDFUniversal Registration Document(URD)(under number D.22-0110)filed with the AMF on 17 March 2022,which may be consulted on theAMF website at www.amf-france.org or on the EDF website
6、 at www.edf.fr as well as the management report as of end-December 2022,which is also available on the EDF website.EDF and its affiliates do not undertake nor do have any obligation to update forward-looking information contained in this presentation toreflect any unexpected events or circumstances
7、arising after the date of this presentation.2022 ANNUAL RESULTSLuc RmontChairman and Chief Executive Officer3KEY OPERATIONAL INDICATORS-2022279TWhNuclear outputFrance-23%vs 202143.6TWh+5%vs 2021Nuclear outputUnited Kingdom-22%vs 202132.4TWhGroup wind&solar outputHydro outputmainland France2022 ANNUA
8、L RESULTSvs 48gCO2/kWh in 202150gCO2/kWh24.6TWh+18%vs 202185GW gross+12%vs end-20214Group carbon intensityGroup portfolio of wind and solar projects 52022 ANNUAL RESULTSFINANCIAL RESULTS-202214.8bn-5bnEBITDAvs 20.6bn at end-2021vs 18bn in 2021-12.7bnvs 4.7bn in 2021Net income excl.non-recurring item
9、sNet financial debtGroup net liquidity(1)64.5bnvs 43bn at end-2021(1)Cash and cash equivalents 10.9bn,liquid assets 18.5bn,undrawn credit lines 14.1bn,and after deduction of the current portion of the borrowings and financial debts for-28.7bn.Of which 10.6bn of EDF SA net liquidity.SIMPLIFIED PUBLIC
10、 TENDER OFFER FOR EDF EQUITY SECURITIESSimplified public tender offer(1)launched by the French State on 24 November 2022 to acquire the shares and OCEANE convertible bonds that it does not hold,at a price of 12/share and 15.52/OCEANEAction for annulment of the French Financial Markets Authoritys cle
11、arance decision on the public tender offer,filed with the Paris Court of Appeal on 2 December 2022 by representatives of minority shareholders Closing of the Offer(2)on 3 February 2023:French States holding of 95.82%of the shares and 96.53%of the voting rights as well as 99.96%of the OCEANE,pending
12、the decision of the Court of Appeal expected during the first semester of 20236(1)See the 23 November 2022 EDF press release.(2)Subject to its reopening in accordance with the States undertakings described in the 25 January 2023 EDF press release,including the undertaking not to implement a squeeze-
13、out procedure prior to the Court of Appeals decision.2022 ANNUAL RESULTSNUCLEAR:A CHALLENGING YEAR2022 ANNUAL RESULTSSizewell CBritish governments decision to take a 50%-stake in the company alongside EDF(1)by the FID,through an investment of c.700mProject eligible for the Regulated Asset Base(RAB)f
14、unding model(2)Flamanville 3Schedule and cost adjustment:New target of nuclear fuel loading in Q1 2024(3)Estimated cost at completion of 13.2bn(3)7EXISTING NUCLEAR(1)EDFs Final Investment Decision(FID)is subject to certain conditions,particularly the capacity to raise the required funding and decons
15、olidate the project with a stake of less than 20%.(2)2022 NEFA act(Nuclear Energy Financing Act),in force as from end-May 2022.(3)Previous costs and schedule:12.7bn2015and Q2 2023.In 2015 euros and excluding interim interests during the construction period.(4)See the link.to the excell plan commitme
16、nts.(5)Speech by the French President of the Republic on 10 February 2022.NEW NUCLEAR43 of 56 reactors currently operationalStress corrosion(SC)Identification of the 16 reactors most sensitive to SCphenomenon(the 4 N4-series 1,450MW reactors and the 12 P4-series 1,300MW reactors)10 of the 16 reactor
17、s were treated in 2022 or are undergoing treatmentSystematic and preventive replacement by end-2023 of the pipes of the 6 P4-series 1,300MW reactors not yet treated and of Cattenom 1EXCELL PLAN:perpetuation of actions taken to reach highest industrial standards(4)NUCLEAR ACTIVITIES INCLUDED IN THE E
18、UROPEAN TAXONOMY BELFORT SPEECH(5):RESTARTING NUCLEAR POWER IN FRANCE8RENEWABLES:CONTINUED DEVELOPMENT.AND ACCELERATION IN COMMISSIONING AND INSTALLED CAPACITY2022 ANNUAL RESULTSGROWTH IN PROJECT PORTFOLIOto 85GW gross,+12%vs.end-2021.ENABLING TO MAINTAIN A HIGH LEVEL OF CAPACITY UNDER CONSTRUCTION.
19、20213.13.62022Capacity commissioned(1)(GW gross)(1)Wind and solar.See appendix p28.End-2021End-20227.97.184631SecuredUnder developmentProspection phase85 GW(1)Capacity under construction at end of year(1)(GW gross)First MWh produced for the worlds largest solar power plant,Al Dhafrah(2GW)in the Unit
20、ed Arab EmiratesHYDROPOWEREDF,winner of an auction for an offshore wind farm in New York bight(1.5GW),developed in partnershipFrance first offshore wind farms full commissioning at Saint-Nazaire(480MW)Partnership agreements signed for development and construction of the Mpatamanga hydropower plant(3
21、50MW)in Malawi+16%Installed capacity(1)(GW net)12.013.220212022+10%9CUSTOMERS&ENEDISGAS STRATEGYCharging stations(4),strong progress:+45%riseGROWTH OF GROUP CUSTOMER PORTFOLIO(1)(1)Millions of customers,calculated by delivery point.A customer may have two delivery points.For France:Commercial depart
22、ment,S and SEI(2)With a negative impact in EBITDA in 2022,due to a higher number of new customers at regulated tariff,leading to purchases of volumes on the market at very high prices(3)On volumes sold and to be delivered in 2023.(4)Installed and managed.(5)SAIDI:System Average Interruption Duration
23、 Index.Excluding exceptional events and transport grid incidents.2022 ANNUAL RESULTSELECTRIC MOBILITYFrance:Growth,for the first time since the opening to competition,in the electricity customer portfolio(2)(+700,000 residential contracts),supported in particular by the sharp increase in customers i
24、n market offers(MO)ENEDIS:FIRST-CLASS OPERATIONAL PERFORMANCE826465759.52000022High-performance supply quality(SAIDI)(5)(in min)3.8GW of renewable capacity connected in 2022+18%of renewable power plants connected at end-2022(in millions)29.330.35.56.13.73.
25、92021202240.338.5FranceEdison and LuminusUnited-Kingdom+3%+5%11.42.4202020212022+67%(in millions of customers in MO)Business market:+2.7 points i.e.52.7%market share(3)at end-2022 20212022200k160k230k+45%280kFrancePod PointRest of the world+11%WINTER PEAK&ENERGY SUFFICIENCY PLAN2022 ANNUAL RESULTS10
26、+20%load-shedding capacity for industrial customers+30%subscription to Tempo offers(remunerating lower consumption during peak periods)Large-scale media campaign to raise awareness about energy-saving actionsConnections to EDF consumption monitoring tools doubledFuel economy,shifted outages and reor
27、ganised maintenance schedules 18 nuclear reactors recommissioned since 1 NovemberNUCLEAR2.4GW saved during the 12pm-2pm peak by temporarily shifting hot water tank heating during the night-10%in electricity usage(2)for residential customers in November and December 2022-20%in public lighting electri
28、city consumption in December 2022 vs December 2021 CUSTOMER ENERGY SUFFICIENCY PLANENEDISHydropower:actions carried out to maximise available power:+2.3GW mobilizable capacityRENEWABLESCUSTOMER AWARENESS IN FRANCE10%reduction in energy consumption(1)in Q4 2022 by the Groups office sitesEDF ENERGY SU
29、FFICIENCY PLAN(1)Climate-adjusted percentage vs.Q4 2021.(2)Estimated average corrected for temperature differences(vs.November and December 2021).2022 ANNUAL RESULTS11ENVIRONMENTAL,SOCIAL&GOVERNANCE COMMITMENTS(1)Calculation of emissions avoided annually thanks to the sales of innovative products an
30、d services.New target at G4 scope and integrating new products and services.(2)The initial target concerned the EDF and Dalkia scope.(3)These Group targets for 2026 and 2030 apply also to women employees and executives.DOWNSTREAM AVOIDED EMISSIONSNEW TARGET in Mt of Co2 avoided GENDER EQUALITYSUSTAI
31、NABLE FINANCING1.25bnGREEN BOND ISSUED IN OCTOBER 2022Funds allocated to investments in electricity distribution10bnGREEN BONDS ISSUED AT END-2022CLIMATE TRANSITION PLAN 99.87%adopted at the Shareholders MeetingCLIMATE RESOLUTION29.830.833%(3)2023036%-40%(3)A TRAJECTORY ON TRACK FOR THE G
32、ROUPS TARGETSPercentage of women on Groups entity management committees11,420222030Initial target(2)New target(1)3015122022 ANNUAL RESULTSXavier GirreGroup Senior Executive Vice President-Finance31/12/202131/12/2022Net financial debt(in bn)43.064.5Net income excluding non-recurring items4,717(12,662
33、)n.aNet income Group share5,113(17,940)n.aIn m20212022%Org.(1)Sales84,461143,476+69.9+69.4EBITDA18,005(4,986)n.an.a2022 ANNUAL RESULTS13KEY FIGURES FOR 2022n.a.:not applicable(1)Organic change at comparable scope,standards and exchange rates.18.0(5.0)-29.1-8.2+8.7-2.7+1.3+1.4+5.2+0.42021202214GROUP
34、EBITDA-SYNTHESISIn bnHydro outputNB:Estimated figures for changes in EBITDA.(1)Vs-32bn published in the 27 October 2022 press release based on the forward prices of 7 October 2022 which have since fallen sharply.(2)Vs-10bn published in the 27 July 2022 press release,the difference coming,notably,fro
35、m the accounting in 2022 of the compensation of the tariff shield in CSPE.(3)Vs+8bn published in the 27 July 2022 press release,the difference is due to a climate effect and a price effect on open positions.France nuclear output(1)Non regulated France energy price effect(3)EDF TradingRegulatory meas
36、ures(2)Decrease in nuclear output -81.7TWh mainly linked to outages relating to stress corrosion(SC)phenomenonThermal outputUnited Kingdom nuclear outputOthersIncl.Regulated activities+0.7bn2022 ANNUAL RESULTSIn m20212022EBITDA18,005(4,986)(22,991)Commodities volatility(215)(849)(634)Amortisation/de
37、preciation expenses and provisions for renewal(10,789)(11,079)(290)Impairments and other operating income and expenses(1,776)(2,449)(673)EBIT5,225(19,363)(24,588)2022 ANNUAL RESULTS15EBIT16NET INCOME GROUP SHAREIn m20212022EBIT5,225(19,363)(24,588)Financial result360(3,553)(3,913)Income taxes(1,400)
38、3,926+5,326Share of net income from associates and joint-ventures644759+115Net income of discontinued operations(1)67(-)Deducting net income from minority interests285285-Net income Group share5,113(17,940)(23,053)(-)Change in commodities fair value(1,876)2,948+4,824(-)Impairments(2)6081,295+687(-)O
39、ther items8721,035+163Neutralisation of non-recurring items net of tax(396)5,278+5,674Net income excluding non-recurring items4,717(12,662)(17,379)Decrease in performance of dedicated asset portfolio:-8.5%vs.+11.9%in 2021(-5,835m)Positive effect of the increase in real discount rate of French nuclea
40、r provisions of+50 bps,to 2.5%(1)(+3,260m)Coverage rate of nuclear provisions by the Dedicated Assets:107,1%at end-2022 vs.109.3%at end-2021Increase in the cost of financial debt(-271m)Change in financial result(1)In 2021,the decrease in the real discount rate for nuclear provisions in France was-10
41、 bps to 2.0%.(2)Including,in 2022,impairment in the United Kingdom for a total of(0.9)billion net of tax o/w an impairment on the EDF Energy goodwill.2022 ANNUAL RESULTS(43.0)(64.5)-12.8+8.3-16.4-1.8+0.5-1.3-1.1+2.3+0.831 December 202131 December 20222022 ANNUAL RESULTS17NET FINANCIAL DEBTNB:figures
42、 rounded to the nearest whole number.(1)Net investments excluding Group disposals.(2)Dividends paid including hybrid bond remuneration.In bnEBITDA Cash WCRNet investments(1)Dividends(2)Net financial expenses disbursed&dedicated assets&othersIncome tax paidGroup cash flow:(-24.6bn)OtherRights issueHy
43、brid issue&reimbursementChange in NFD:+21.5bnDisposalsOUTLOOKLuc RmontChairman and Chief Executive Officer182022 ANNUAL RESULTS192023 TARGETS(1)Based on scope and exchange rates at 01/01/2023.At stable regulatory and fiscal environment and considering the financing of the tariff cap at 15%by the CSP
44、E,and an assumption of 2023 French nuclear output of 300-330TWh,and the generation schedule.(2)As per current S&P methodology.2023 TARGETS(1)ADJUSTED ECONOMIC NET DEBT/ADJUSTED EBITDA(2)4.5xNET FINANCIAL DEBT/EBITDA 3xOUTLOOK FOR 2023:RETURN TO PROFITABILITY&CONTINUED INVESTMENT PLAN2022 ANNUAL RESU
45、LTS20Recovery of nuclear generation to 300-330TWh:gradual exit from the stress corrosion crisisCustomer support in a context of high pricesoContinuation of the energy sufficiency planoDecarbonisation of industryoElectric mobilityIndustrial developmentoRenewable:in France,commissionings of Fcamp(500M
46、W-off-shore wind),Provence Grand Large(floating off-shore wind),Lazer(floating solar)internationally,watering of the Nachtigal dam(420MW),commissioning of Al Dhafrah solar farm(2GW)oNuclear:start-up tests for Flamanville 3 at the end of the yearintegration of GE Steam Power activitiesstart of the el
47、ectromechanical works at Hinkley Point CoDistribution networks:acceleration of connections of renewables and charging stationsLAUNCH OF 4 OPERATIONAL EXCELLENCE PROJECTS Increasing metal time Accelerating and industrialising digital Developing the skills required for group businesses Monitoring oper
48、ational performanceAPPENDICES2022 ANNUAL RESULTSP.41FINANCIAL CONSOLIDATED STATEMENTSP.56OPERATIONAL DATA&MARKETSP.48FINANCING AND CASH MANAGEMENT P.23STRATEGY AND INVESTMENTSTABLE OF CONTENTSP.31FRANCEP.28RENEWABLES222022 ANNUAL RESULTS STRATEGY AND INVESTMENTS 23FranceRenewablesConsolidated financ
49、ial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsAll the welds concerned were upgraded as of 31 December 2022.Non-destructive inspections and stress-relieving heat treatments are ongoingThe most complex penetration welds on the reactor containment building a
50、re fully completed and compliantOther technical matters have mobilised the teams and are currently being examined by the French Nuclear Safety Authority(ASN),in particular the filtration sumps SIS/CHRM(1),the pressurizer safety release valves and the lesson-learnt from the technical issue at the Tai
51、shan No.1 reactorIn its press release on 16 December 2022,EDF has updated the fuel-loading date from Q2 2023 to Q1 2024 and the estimated completion cost was increased from 12.7bn to 13.2bn(2)These elements take into account the difficulties encountered in modelling and carrying out the stress-relie
52、ving heat treatment operations on“complex geometry”welds(i.e located close to components that should not bear the temperatures caused by the stress-relieving heat treatment of the weld)Costs arising from post-commissioning modifications are not included in the construction cost of the projectFLAMANV
53、ILLE 3 EPR(1.6GW)UPGRADE ON THE MAIN SECONDARY CIRCUIT WELDS AND OTHER MATTERS OF ATTENTION(1)SIS=Safety injection system,CHRM=containment heat removal system.(2)In 2015 euros,excluding interim interest(see note 10.6 of the Consolidated financial statements as of 31 December 2022).SCHEDULE AND COSTS
54、242022 ANNUAL RESULTSFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsThe projects targets in terms of schedule and cost at completion from the last project review to date were announced on 19 May 2022(1):The start of elect
55、ricity generation for Unit 1 is targeted for June 2027.The risk of further delay of the two units remains assessed at 15 months,assuming in particular the absence of additional effects of the war in Ukraine The project completion cost was estimated,during this review,in a range of 201525bn to 201526
56、bn(2),corresponding to 31bn to 32bn in current value based on the inflation indexes available at end-2021(3)The schedule and cost of electromechanical works and of final testing were not reviewed at this stage of the projectHINKLEY POINT C(1)See EDFs press release of 19 May 2022“Hinkley Point C Upda
57、te”.Previous target announced on 27 January 2021:start of electricity generation in June 2026,project completion cost estimated in a range of 201522-23 bn.(2)Net cost of operational action plans,in 2015 sterling,excluding interim interest and at a reference exchange rate for the project of 20151=1.2
58、3.(3)Based on inflation indexes as of 30 June 2022,the estimated cost at completion in current value could reach 32.7bn.The real cost remains unchanged.KEY DATAThe Unit 1 Reactor Pressure Vessel was built and is ready to shipThe final Liner Ring has been lifted onto Unit 1 Reactor BuildingThe Lance
59、Storage and Transfer Compartment Pools have been lifted into Unit 1 Reactor BuildingDespite achieving 20 out of 22 key milestones set for 2022,the main Civil and electromechanical works performance were less than expected in 2022.Mitigating actions to recover the impact of 3-6 months are underwaySCH
60、EDULE AND COSTS REVIEWThe agreements between EDF and CGN include a compensation mechanism between both shareholders in case of overrun of the initial budget or delays.This mechanism was triggered in January 2023.These arrangements are part of a Shareholders agreement signed between EDF and CGN in Se
61、ptember 2016 and is subject to a confidentiality clauseAs the projects total financing needs exceed the contractual commitment of the shareholders,shareholders will be asked to provide additional equity(“voluntary equity”)in H2 2023(estimation)The probability that CGN will not fund the project after
62、 it has reached its committed equity cap is high.In the event that CGN would not allocate voluntary equity,the EDF Group would be required to contribute in place of CGN,as soon as CGN has contributed its share of committed equity,on the basis of the estimated cost at completionCONSTRUCTION PROGRESS2
63、52022 ANNUAL RESULTSFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsSIZEWELL C262022 ANNUAL RESULTSMILESTONES REACHED IN 2022MAIN ASPECTSFINAL INVESTMENT DECISION(FID)Project of 2 UK European Pressurised Reactors(EPR)at Si
64、zewell on the Suffolk coast for a total capacity of 3.26GWPower supply to 6 million households for around 60 years Second of a kind UK EPR following Hinkley Point C,replication as much as possible of the Hinkley Point C design and supply chainThe power plants construction remains subject to EDFs FID
65、The EDFs FID will depend on the fulfilment of some conditions including:Securing project financing A return on capital expected by EDF,as an investor of up to 19,99%,in line with its investment policy The granting of the remaining required consents,in particular subsidy control clearance The finalis
66、ation of the GSP(Government Support Package)An agreement with the UK government on the base case estimate of costs at completion and schedule The finalisation of the key EDF contracts to be signed at FID The ability of EDF to deconsolidate the project in the Groups financial statements(including in
67、the calculation of the economic indebtedness by the rating agencies)Failure to bring about these conditions could result in the Group not making a FIDShould EDF decide not to take a FID,the UK Government would have a right to exercise an option over the land purchase or over EDFs shares in Sizewell
68、CSupport from UK GovernmentOn 29 November 2022,the UK Government announced its decision to invest c.700m to support the projects continued development and to increase its shareholding through 2023 until it reaches parity with EDF as a 50%ownership,in view of an expected FID in 2024.As at 31 December
69、 2022,the UK Government held a 32%shareholding in the project,with EDF owning the remaining 68%CGN has exited the Sizewell C project and remains a shareholder in the Hinkley Point C projectFinancingEDF intends to be a minority shareholder with no more than 19.99%stake and to provide the EPR design a
70、nd key nuclear equipmentThe project is eligible for the RAB model,the terms of which and Government Support Package(GSP)are currently being discussed with the UK GovernmentThe financing terms of the project are not defined at this stageOrganisationOrganisation and collaboration schemes with Hinkley
71、Point C are being analysed to secure the benefits of the replicability of the Hinkley Point C project.Depending on the schemes,the risk of non-compatibility with the projects deconsolidation objective could increaseLicenses and permitsThe ONR(Office for Nuclear Regulation)confirmed in July 2022 that
72、 almost all the regulatory requirements were satisfied to grant a Nuclear Site LicenseDevelopment Consent Order(DCO)granted in July 2022.A request for judicial review has been launched in the UKFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStra
73、tegy and investments27STRESS CORROSION PHENOMENON(SC)(1)2022 ANNUAL RESULTSCURRENT SITUATIONONGOING ACTIONSStress corrosion detected on parts of the pipes of the auxiliary circuits of the main primary circuit of several nuclear reactorsInspections,investigations and analyses carried out have enabled
74、 to classify the reactors according to their sensitivity to the SC phenomenon:-Most sensitive reactors:4 N4 series reactors of 1,450MW and 12 P4 series reactors of 1,300MW-Reactors with low or very low sensitivity:32 reactors of 900MW and 8 P4 series reactors of 1,300MWNew processes developed to car
75、ry out enhanced non-destructive examinationsAs of 16 December 2022,among the 16 most sensitive reactors:10 reactors have been or are being treated in 20226 P4 series reactors not yet treated and Cattenom 1(2)reactor subject to the full,systematic and preventive replacement of the pipes of the safety
76、 injection lines by the end of 2023The 40 less sensitive reactors will be inspected by the end of 2025 as part of the already scheduled outages(1)See Information note on 16 December 2022.(2)6 reactors not treated(Belleville 1,Belleville 2,Cattenom 2,Golfech 2,Nogent 1,Nogent 2)and Cattenom 1(partial
77、ly treated).282022 ANNUAL RESULTS RENEWABLESFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsA PORTFOLIO OF WIND AND SOLAR PROJECTS OF 85GW(1)(1)Pipeline excluding capacity under construction.Gross data corresponding to 100
78、%of the capacity of the projects concerned.A PROJECT PORTFOLIO THAT IS DIVERSIFIED GEOGRAPHICALLY AND BY TECHNOLOGY85GW45GW(53%)Solar16GW(19%)Offshore wind24GW(28%)Onshore wind37.3GW8.0GW29.6GW5.3GW4.3GW84631Secured*Under development*Prospection phase*PORTFOLIO OF PROJECTSBREAKDOWNBY DEVELOPMENT PHA
79、SE(IN GW)85GW*Securing a power purchase agreement(following a call for tenders,auction,OTC negotiation).*Sufficient land securisation and start of technical studies.*Start of land identification and preliminary studies.292022 ANNUAL RESULTS44%NORTH AMERICA10%LATAM11%REST OF THE WORLD85GW35%EUROPEFra
80、nceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsINSTALLED CAPACITY AND CAPACITY UNDER CONSTRUCTION,AS OF 31 DECEMBER 2022NB:The values correspond to the expression to the first decimal or integer closest to the sum of the pre
81、cise values,taking into account rounding.(1)Gross capacity:total capacity of the facilities in which EDF has a stake.(2)Net capacity:capacity corresponding to EDFs stake.302022 ANNUAL RESULTS(in MW)Gross(1)Net(2)31/12/202131/12/202231/12/202131/12/2022Wind under construction3,3912,7832,1691,662Solar
82、 under construction4,4954,3472,3503,073Capacity under construction 7,8857,1304,5204,735Wind 13,60614,5529,0479,574Solar5,3997,4272,9753,591Wind&Solar installed capacity 19,00521,97912,02113,165Hydraulic22,53422,577Renewable installed capacity34,55535,914Growth of net installed capacity(wind and sola
83、r):+9.5%312022 ANNUAL RESULTS FRANCEFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsFRANCE NUCLEAR OUTPUTNuclear output of 279.0TWh for 2022,down by 81.7TWh from 2021.The decrease is mainly explained by a lower availabilit
84、y of the nuclear fleet,mainly due to the control and repair programme on the pipes affected by the stress corrosion phenomenon,despite fewer unplanned outages and the optimisation of the generation schedule99.2181.7268.2360.791.7154.1209.2279.0Q1H19MFY2021 cumulative output2022 cumulative output-7.6
85、%-15.2%-22.0%(in TWh)-22.7%322022 ANNUAL RESULTSFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsFRANCE:UPSTREAM/DOWNSTREAM ELECTRICITY BALANCENB:EDF excluding French islands electrical activities.(1)O/w required purchases
86、from eligible suppliers within the frame of the specific additional ARENH mechanism.(2)Hydro output after deduction of pumped volumes:25TWh on 2022/35.9TWh on 2021.(3)O/w 19.5TWh as for required sales of ARENH additional volumes to the alternative suppliers(see the decree of March 2022).(4)Including
87、 hydro pumped volumes of 7.4TWh on 2022/5.9TWh on 2021.In TWh 2022vs.2021OUTPUT/PURCHASECONSUMPTION/SALES 2022vs.2021-63.1-63.1In TWh414.4-81.7+0.7+17.9-9.4-4.4414.4NuclearHydro(2)ThermalLT&Structured purchases(1)Purchase obligationsNet market purchasesStructured sales and others(4)ARENH supply(3)En
88、d-customers50.127.911.232.4279.0-12.8+13.8+19.4234.334.5145.613.8-0.1Net market sales0-69.6332022 ANNUAL RESULTSincluding:Market offers:123.7Regulated tariffs:110.6FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investments34FRANCE H
89、YDRO OUTPUT(1)Hydropower excluding electrical activities on French islands,before deduction of pumped volume consumption.(2)Production after deduction of pumped volume consumption:35.9TWh in 2021,and 25.0TWh in 2022.2022 ANNUAL RESULTSHydro conditions in 2022 far behind than 2021:hydraulic condition
90、s indexof 0.71 in 2022 vs 0.94 in 2021 Hydraulic reservoirs filling rate in France at 66.1%at end-December 2022:+1.3 points below historical average(64.8%)40%60%80%100%120%140%160%180%MarchNormal hydro conditions levelSeasonal mins and max between 2012 and 202120222021Dec.Sept.June13.724.633.541.89.
91、418.924.932.4Q1H19MFY2021 cumulative output2022 cumulative output(2)-22.4%vs end-December 2021(in TWh)(1)(1)FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investments10-YEAR INSPECTIONS OF THE NUCLEAR FLEET022023202420252
92、0262027202820292030203120322033In 2029,Tricastin 1 would be the first 900MW series reactor to realise its 5th 10-year inspection 1,450MW1,300MWNumber of 10-year inspections4th10-year inspection of 900MW reactors3rd10-year inspection of 1,300MW reactors2nd10-year inspection of 1,450MW reactors4th10-y
93、ear inspection of 1,300MW reactors3rd10-year inspection of 1,450MW reactors5th10-year inspection of 900MW reactors(1)35CIV2GOL1BLA1DAM2GRA3TRI3BUG3BLA2CHB1DAM3GRA2SLB2CAT4BLA3CRU3DAM4GRA4TRI4GOL2PEN2BLA4GRA4CRU1CHB2GRA5CRU4PAL1PAL2CRU2CAT1PAL3SAL1GRA6CAT2FLA1SAL2BEL2FLA2NOG1PAL4CHO2CHO1BEL1NOG2CAT3P
94、EN1BUG5TRI2 DAM1GRA1CIV1GOL1BLA1DAM2GRA3SLB2TRI3CIV2BUG3BLA2CHB1DAM3GRA2CAT42022 ANNUAL RESULTSNB:forecast data on 3 January 2023.(1)5th10-year inspections,subject to decisions taken and authorisations issued.CHB3BUG2BUG4TRI1CHB4900 MW 4th10-year inspection900 MW 5th10-year inspection(1)FranceRenewa
95、blesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investments-0.9-8.1-8.6-0.6-0.616 March 2022Definitive impact36IMPACT OF REGULATORY MEASURES ON 2022 EBITDAGENERATION AND SUPPLY ACTIVITIES 2022 ANNUAL RESULTSAllocation of an additional volume of
96、20TWhOn 3 February 2023,the Conseil dEtat(the French administrative supreme court)rendered its decision in the context of the appeal for annulment filed by EDF on 9 August 2022:EDFs appeal was rejected.The decision of the Conseil dEtat has been rendered in first and last instance and therefore not s
97、ubject to appealThe claim for indemnification initiated by EDF before the Paris Administrative Court to obtain full compensation from the State for the damage suffered by EDF as a result of the Mechanism,estimated at the end of October 2022 to be 8.34bn(1),as an independent proceeding and its invest
98、igation is continuingEstimated EBITDA impact in bnImpacts on EBITDA of regulatory measures after the decree published on 12 March 2022 and the tariff cap:1.Increase or ARENH ceiling for-8.1bn(vs.-8.6bn*):An additional 19.5TWh of ARENH at 46.2/MWh to be delivered from April to December 2022 to altern
99、ative suppliers whose demand was capped during the end-2021 auction:impact estimated at around-4.1bn.Additional volumes have been reduced from 20TWh to 19.5TWh due to the cessation of activity or the waiver of some suppliers Impact of this additional allocation replicated in EDF offers(regulated tar
100、iffs and market offers)estimated at-4bn(vs.-4.5bn*:the difference comes from a lower consumption from customers at the end of the year for+0.2bn(sufficiency impact),and clarification of ARENH+allowance rules to customers for+0.3bn)2.Margin level freeze in/MWh for regulated tariffs:impact estimated a
101、t around-0.6bn3.Tariff deferral(0bn vs-0.9bn*)compensated through the CSPE mechanism established by the 2023 finance law adopted on 31/12/2022 for+1.4bn.The difference for+0,45bn corresponds to the positive impact of the CRE deliberation of July 2022(see below).4.Positive impact of the CRE deliberat
102、ion of July 2022 on the catch-up of the increase in TRV sourcing in January 2022 for+0.45bn.(1)This amount of-8.1bn includes customer consumption at the end of the year that is lowerthan estimated in October 2022 for approximately+0.2bn(sufficiency effect).-10.1-8.2+0.45CRE deliberation(July 2022)Fr
103、eeze on margin level of regulated tariff in/MWhTariff deferralRise of ARENH ceiling*Figures estimated on 16 March 2022FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsDISTRIBUTION OF ELECTRICITY SALES(1)ACCORDING TO THEIR M
104、ARKET PRICE EXPOSURE(1)Sales excluding purchase obligations volumes and volumes under long-term supply contracts.Estimated distribution based on the situation in 2022,in particular in terms of EDF downstream market shares.In 2022,the level of cropping corresponding to ARENH over subscription(160TWh)
105、by alternative suppliers has been applied to downstream offers.(2)Regulated sales tariffs.(3)EDF is subjected to the arbitrage between the two prices and its date of exercise is variable depending on the volumes(it takes place at the latest at the time of the ARENH end of year subscription window fo
106、r a delivery the following year).(4)Related to the replication of the sourcing cost structure of alternative suppliers:shares of the volumes corresponding to the ARENH rights”including replication of additional volumes to the alternative suppliers.(5)Related to the replication of the sourcing cost s
107、tructure of alternative suppliers:the balancing volumes sourced on the market which exceed the“ARENH rights”.Volumes sold at the ARENH price following the cost-stacking formula in the regulated sales tariffs(essentially blue residential and non-residential tariffs)Volumes sold at the market price if
108、 this price is lower than ARENH arbitration threshold(ARENH price-capacity price)and ARENH price otherwise(3),which include:19.5TWh as for required sales of ARENH additional volumes to the alternative suppliers(decree of March 2022)The ARENH volumes that can be requested by alternative suppliers and
109、 network operators for their purchases of losses Part of the volumes(4)sold to EDF final customers under market-based contractsVolumes sold at the market price,whatever the price,which include:Part of the volumes sold to EDF final customers:“market complement supply”in the regulated tariffs(5),balan
110、ce of the volumes sold to clients under market-based contractsVolumes sold on wholesale power marketsContracts at negotiated prices that do not follow a market-indexed structure55TWhAt ARENH price through regulated tariffs(2)after cropping145TWhAt the minimum betweenmarket price and ARENH arbitratio
111、n threshold for alternative suppliers(120TWh)and network losses(25TWh)50TWhPart of market offers at market price25TWhLong-term contract405 TWh202268%ARENH driven26%driven by market price75TWhAt ARENH price through market offersafter cropping55TWhPart of regulated tariffs(2)at market price372022 ANNU
112、AL RESULTSFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investments3,3-0.211.516.449.586.173.394.06.05.05.09.015.915.215.217.454.954.956,056.501/08/202101/02/202201/08/2022 01/02/2023Energy+fees(5)TURPECapacityCost to serve(4)and m
113、arginCatch-up(1)Source:Journal Officiel.(2)The figures are based on an average calculation on customers portfolio at the Regulated Sales Tariffs at end-2021(latest available database to date).(3)Due to rounding,the total is not strictly equal to the sum of the components.(4)Including cost of Energy
114、Efficiency Certificates.(5)For 2022 and 2023,this part takes into account the tariff cap for the current year.In February 2023,in particular,this part includes the catch-up under the 2022 cap and a discount of 143.2/MWh under the 2023 tariff cap.This discount is compensated by the CSPE under the fin
115、ance law for 2023 and will therefore not be subject to a catch-up in 2024.(6)Ex-CSPE.38REGULATED SALES TARIFFS IN FRANCE:CHANGE IN 2021-2023RESIDENTIAL BLUE TARIFF EXCLUDING TAXES(1)(2)AVERAGE BILL BREAKDOWN VAT INCLUDED(BLUE RESIDENTIAL CUSTOMER)161.1(3)193.3161.1(3)01/08/202274.7106.1105.0136.854.
116、954.956.056.522.51.01.01.043.441.441.639.901/08/202101/02/202201/08/2022 01/02/2023203.5(3)203.6234.2TICFE(6)TURPETaxesProcurementand commercial costs,net of state compensation(5)(in/MWh)(in/MWh)129.7(3)195.5+30%+42%+74%+28%2022 ANNUAL RESULTS+24.3%+31.3/MWh+4.0%+7.7/MWh+15.0%+30.6/MWh+20.0%+32.2/MW
117、hFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsCSPE:CHARGES FOR EDF(1/2)(1)The support schemes for renewable energies include the additional remuneration and purchase obligations covering electricity generated in metropo
118、litan France from:hydropower(less than 12MW),biomass,onshore and offshore wind power,PV power,cogeneration,recovery of household waste and energy recovery,with the exception of ZNI(3).(2)Charges relating to the sales shortfall of the customer portfolio following the price freeze(electricity and gas)
119、ruled on by the government,additional generation costs and purchase obligations in ZNI(3),as well as the FSL(Housing Solidarity Fund)and certain services to vulnerable customers.(3)ZNI:Zones non interconnectes corresponding to overseas departments and Corsica and some of the Breton islands.Article L
120、121-6 of the French Energy Code stipulates that the charges attributable to the public service tasks assigned to the electricity operators arefully compensated by the French StateThe trend in public service charges between 2021 and 2022 can be attributed to two opposing factors:Charges for renewable
121、 energy support in metropolitan France decreased by 6.4bn between 2021 and 2022,and became negative at end-December 2022.Indeed,the 167/MWh increase in spot prices observed between 2021(109/MWh)and 2022(276/MWh)meant that the average spot price exceeded the average bond priceThis effect was amplifie
122、d by the lifting of the cap on the additional remuneration adopted at the end of 2022,which generated accrued income of around 1.6bn(no corresponding item in 2021)The other charges increased by 1.8bn and include:-charges relating to the gas and electricity tariff cap representing 1.6bn in 2022(no co
123、rresponding item in 2021)-charges relating to the ZNIs(3),which increased by 0.2bn between 2021 and 2022 to take account of the development of renewable energies in these territories and the rise in commodity prices(fuel oil,coal,CO2)In millions of euros202020212022Purchase obligation(1)6,15876%3,34
124、261%-3,097NCOther(2)1,92324%2,13039%3,905NCTotal EDF CSPE8,081100%5,472100%808100%392022 ANNUAL RESULTSFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investments2,595M2,495M4,973M11,925M5,699M6,158M3,342M-3,097M2002239/MW
125、h32/MWh109/MWh276/MWhCSPE:CHANGE IN SUPPORT FOR RENEWABLES IN MAINLAND FRANCE FOR EDF(2/2)(1)EDF SA excluding island activities.(2)The compensation mechanism of public energy services charges also covers the tariff equalization costs in the ZNI(Zones Non Interconnectes),and the solidarity programmes
126、.Principle:The compensation mechanism of public energy services(2)charges offsets the difference between the cost of support for renewables in mainland France and market prices 40Amount of compensation for support for renewables(1)Amount of the support for renewables valued at market prices based on
127、 CRE methodologyAmount of the support for renewables Average spot price8,294M8,653M8,315M8,828M2022 ANNUAL RESULTS412022 ANNUAL RESULTS CONSOLIDATED FINANCIAL STATEMENTSFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsGROUP
128、 EBITDA BY SEGMENT In millions of euros422022 ANNUAL RESULTS427,394-23,1445,9926,7238310328-211,3251,0461,1152673361,8247,089+91-30,534+731+47-54+1+1,428+45+39+5,215Other internationalItalyUnited KingdomFramatomeDalkiaEDF RenewablesFrance Regulated activitiesFrance Generation and supply a
129、ctivities18,005ORGANIC CHANGE:-128.2%(1)Other activitiesOther internationalItalyUnited KingdomDalkiaEDFRenewablesFrance Regulated activitiesFrance Generation&supply activitiesScope&forexFramatomeOther activities(4,986)+Increase in production EBITDA thanks to commissioning-Development cost increase-D
130、ecrease in nuclear output -81.7TWh+Increase in energy price-Regulatory measures+Increase in nuclear output(+1.9TWh)-Increase in prices only partially passed on to B2C customers+RTE retrocession and TURPE price effect-Loss purchases and decrease in volumes distributed,partially owing to climate effec
131、ts+Strong performance of EDF Trading+Gas activities:increase in volumes sold and long term contract revalorisation+Better Installed Base activity-Decline in Fuel activity+Better thermal contribution+Favourable increase in gas volumes sold-Increase in prices not fully passed on to B2C customers-Cap o
132、n gas prices in cogenerations-Decrease in nuclear output and revision of nuclear provisions in Belgium+Increase in PPA tariff in Brazil(1)Organic change at comparable scope,standards and exchange rates.20212022FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data
133、 and marketsStrategy and investmentsCHANGE IN FINANCIAL RESULTIn millions of euros20212022Cost of gross financial debt o/w interest expenses on financing operations(1,459)(1,494)1,730(1,940)(271)(446)Discount expenses(2,670)1742,844Other financial income and expenseso/w net change in fair value of d
134、ebt and equity instruments of dedicated assets4,4892,739(1,997)(3,096)(6,486)(5,835)Financial result360(3,553)(3,913)Excluding non-recurring items before tax(change in IFRS 9 fair value of financial instruments)(2,797)3,3346,131Current Financial result(2,437)(219)2,218432022 ANNUAL RESULTSFranceRene
135、wablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investments(1)Including Linky and HPC.In millions of euros20212022EBITDA18,005(4,986)Cancellation of non-monetary items included in EBITDA(869)(7,825)EBITDA Cash17,136(12,811)Change in net WCR(1,
136、526)8,301Net investments excluding disposals(1)(15,725)(16,395)Dividends received from associates and joint ventures467590Other elements(565)(1,220)Operating Cash Flow(213)(21,535)Assets disposals2,847535Income taxes paid(2,276)(1,282)Net financial expenses(588)(1,003)Dedicated assets(501)(233)Divid
137、ends paid in cash(794)(1,085)Group Cash Flow(1,525)(24,603)Rights issue,hybrids and other monetary changes1922,498Change in net financial debt(1,333)(22,105)Effects of change and exchange rates(515)85Other non-monetary changes IFRS 16(712)(660)Other non-monetary changes1,8621,168Change in net financ
138、ial debt from continuing operations(698)(21,512)Net Financial Debt Opening balance42,29042,988Net Financial Debt Closing balance42,98864,500442022 ANNUAL RESULTSCHANGE IN NET FINANCIAL DEBTFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy
139、and investments2022 ANNUAL RESULTS45INVESTMENTS:FROM GROSS TO NET(1)Gross financial investmentsOf which EDF Renewables,Framatome and EdisonDisposals except disposal planOf which EDF RenewablesSubsidies:Of which EDF RenewablesMinority shares:Of which EDF Energy(of which HPC project)Subsidies and mino
140、rity sharesOthers(2)Strategic disposals(1)Of which EDF Energy Services(USA)and Edison(in millions of euros)(1)Net investments in the Change in NFD statement including Linky,HPC and excluding disposal plan.(2)Investments in intangible assets and property,plant and equipment in consolidated cash flow
141、statement.18,32419,17816,39515,860+855-448-2,470+135-535Gross operatinginvestmentsGross investmentsNet investmentsTotal investmentsFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investments202216.4bn35%FRANCE GENERATION AND SUPPLY A
142、CTIVITIES28%FRANCE REGULATED ACTIVITIES(1)2%FRAMATOME 18%UNITED KINGDOM4%ITALY1%OTHERINTERNATIONAL1%OTHER ACTIVITES2%DALKIA10%EDF RENEWABLES202115.7bn34%FRANCE GENERATION AND SUPPLY ACTIVITIES29%FRANCE REGULATED ACTIVITIES(1)2%FRAMATOME 19%UNITED KINGDOM6%ITALY2%OTHERINTERNATIONAL1%OTHER ACTIVITES1%
143、DALKIA5%EDF RENEWABLES462022 ANNUAL RESULTSNET TOTAL INVESTMENTS INCLUDING ACQUISITIONS EXCLUDING DISPOSAL PLAN(1)Regulated activities:Enedis,S and island activities;Enedis,an independent EDF subsidiary as defined in the French energy code.FranceRenewablesConsolidated financial statementsFinancing&c
144、ash managementOperational data and marketsStrategy and investmentsNET INVESTMENTS INCLUDING ACQUISITIONS EXCLUDING DISPOSAL PLANNB:figures rounded up to the nearest decimal number.(1)Mainly thermal maintenance,gas,property,central functions.(2)See Chapter 3.8.4 of the URD.Decarbonised investments in
145、 nuclear activities in the United Kingdom are excluded from the European taxonomy and are non-eligible.2022In billions of eurosNuclear maintenance(France,Belgium and UK)including Grand CarnageFlamanville 3ServicesRenewablesFramatomeOther(1)Enedis,SEI and ESNew nuclear16.4bn0.62.90.34.44.72.21.020211
146、5.7bn0.52.90.44.44.41.71.20.3472022 ANNUAL RESULTS0.3MaintenanceDevelopmentTOTALRenewables0.41.82.2Nuclear maintenance(France,Belgium and UK)includingGrand Carnage4.70.04.7Enedis,SEI and ES1.72.74.4Framatome0.00.30.3Flamanville 3 project 0.00.30.3Services0.00.60.6New nuclear 0.02.92.9Others(1)0.60.4
147、1.0TOTAL7.58.916.4Net investments eligible according to the European taxonomy:69%(2)Net investments aligned/eligible:95.5%482022 ANNUAL RESULTS FINANCING AND CASH MANAGEMENTFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsn
148、.a.=not applicable.(1)With cash and cash equivalents,liquid assets,and undrawn lines of credit.49DEBT AND LIQUIDITY2022 ANNUAL RESULTSIn billions of euros31/12/202031/12/202131/12/2022Net financial debt Net financial debt/EBITDA42.32.61x43.02.39x64.5n.a.DebtBondsAverage maturity of gross debt(in yea
149、rs)Average coupon50.214.52.32%49.213.72.06%45.29.42.63%Gross liquidity(1)Financial debt current partNet liquidity32.4(11.5)20.935.7(15.1)20.643.5(28.7)14.8FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investments50NET FINANCIAL DEB
150、T2022 ANNUAL RESULTSIn millions of euros31/12/202031/12/202131/12/2022Financial debt65,59169,40696,053Derivatives used to hedge debts(1,986)(3,762)(2,024)Cash and cash equivalents(6,270)(9,919)(10,948)Debt and equity securities(liquid assets)(15,028)(12,737)(18,507)Asset coverage derivatives-(74)Net
151、 indebtedness of assets held for sale(1)(17)-Net financial debt(2)42,29042,98864,500(1)After disposal of Edisons E&P.(2)After application of IFRS 16.FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsBREAKDOWN BY TYPE OF RATE
152、BREAKDOWN BY CURRENCYGROSS FINANCIAL DEBT AFTER SWAPSEUR79%GBP12%Other(1)3%USD 6%18%71%4%7%31/12/202131/12/2022Floating rate42%Fixed rate58%30%31/12/202131/12/202270%512022 ANNUAL RESULTS(1)Mainly CHF,PLN,CAD and JPY.FranceRenewablesConsolidated financial statementsFinancing&cash managementOperation
153、al data and marketsStrategy and investmentsIn millions of euros,before swapsBREAKDOWN OF BOND DEBTS REPAYMENTS BY CURRENCYIncluding2023202420252026(In m equivalent)EUR2,3034,883 701 1,747 GBP199-USD 227-1, ANNUAL RESULTS01 0002 0003 0004 0005 0006 000202320242025202620272028202920302031203
154、22033203420352036203720382039204020444204520462047204820492050205542055205620692114EURGBPUSDCHFJPYAUTRES6,0004,0003,0002,0001,00005,000OthersEURGBPUSDCHFJPYFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investm
155、ents1,2451,2369891,3382,2351,2381,4518971,538(2)1,09320232024202520262027202820292030FOCUS ON HYBRIDS SECURITIESHybrid securities stock following new issues(in millions of euros)(1)Hybrid issue(1)Exchange rate as of transaction time.(2)Amount redeemed on 29/01/2023 and reclassified on 31/12/2022 as
156、Other financial debt for 1,966M.Hybrid issues contribute to strengthening the balance sheet through their qualification as equity under IFRS and 50/50 as debt and equity by rating agenciesA new 1bn emission paying 7.5%with a 6-year redemption option was issued at the end of 2022.Following the exerci
157、se of its redemption option,the 5.25%perpetual hybrid bond issued on 29 January 2013 was totally redeemed on 29 January 2023,for a residual amount of$2,098m(i.e 1,538M(1)(2)Total amount:11.7bn(1)Average tenor:4.03 yearsAverage cost:4.74%Hybrid debt maturity schedule based on first call datesHybrids
158、stock breakdown by currency as of 31/12/2022OVERVIEW OF KEY ELEMENTS532022 ANNUAL RESULTSUSD 9%71%EUR20%GBPFranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsGREEN BONDS:PROCEEDS ALLOCATION AND IMPACT REPORTING54The detailed
159、list of EDF Renewables projects and hydraulic investment operations by category will be published in EDF 2022 URD.(1)Sum of the impacts of each project weighted by the share of total investment funded by the corresponding Green Bond.CCSRIssue dateFund raisedFunds allocatedProjects financed by the Gr
160、een BondPart of the total investments financed by the Green BondTotal net(1)capacity of the project financed(in MW)Expected net(1)avoided CO2 emissions(in Mt/yr)Nov.20131.4Md1.4MdEDF Renewables projects 59%9761.55Oct.20151.25Md$1.25Md$EDF Renewables projects58%8151.83Oct.20161.75Md1,248MEDF Renewabl
161、es projects54%9621.61502MEDF Hydro operations100%9030.01Jan.201726,000M14,021MWind projects(EDF Renewables,Luminus)15%860.1211,979MEDF Hydro operations+hydro Luminus project87%1330.01Sept.20202.4Md2,246MProjects&portfolio purchases by EDF Renewables,EDF ENR&Luminusprojects 78%1,4121.35138MEDF Hydro
162、operations and biodiversity projects100%1230.001Nov.20211.85Md1,139MEDF Renewables projects EDF Hydro operations and biodiversity projects60%98%8954220.880.001Total6,7277.361Issue dateFund raisedFunds allocatedProjects financed by the Green BondPart of the total investments financed by the Green Bon
163、dRenewable capacity connected(in MW)Number of smart metersNew grid lines built(in km)Oct.20221.25Md1.25MdDistribution of electricity projects100%5,1815,488,0002,9502022 ANNUAL RESULTS54FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and
164、investmentsCOMPARATIVE CREDIT RATINGSSources:rating agencies as of 16/02/2023.(1)Update of the outlook of EDF SA by S&P on 14 December 2022.(2)Update of the rating and outlook of EDF SA by Moodys on 21 February 2022.(3)Update of the outlook of EDF SA by Fitch on 6 September 2022.A+S&P ratingsMoodys
165、ratingsFitch ratingsEDFBBB stable(1)Baa1 negative(2)BBB+stable(3)EngieBBB+stableBaa1 stableA-stableTotalEnergiesA+stableA1 stableAA-stableEDPBBB stableBaa3 positiveBBB stableSSEBBB+positiveBaa1 stableBBB stableIberdrolaBBB+stableBaa1 stableBBB+stableEnelBBB+negativeBaa1 negativeBBB+stableE.ONBBB sta
166、bleBaa2 stableBBB+stableRWEn.d.Baa2 stableBBB+stableEngieIberdrolaE.ONEnelBaa3BBB+A-ABaa1A3A2A1EDFSSEMoodys ratingsBaa2BBBBBB-S&P ratingsEDP552022 ANNUAL RESULTSTotalEnergies562022 ANNUAL RESULTS OPERATIONAL DATA&MARKETSFranceRenewablesConsolidated financial statementsFinancing&cash managementOperat
167、ional data and marketsStrategy and investmentsNB:The values correspond to the expression to the first decimal or integer closest to the sum of the precise values,taking into account rounding.(1)Taking into consideration the shutdown of Hunterston and Hinkley Point B in the UK.(2)Including sea energy
168、:0.24GW in 2022.(3)Taking into consideration the increase in capacity of Marghera Levante in Italy.(4)Taking into consideration the transfer of Shiheng facilities to China Energy Group.INSTALLED CAPACITY AS OF 31 DECEMBER 2022(in GW)Total net capacity of EDF Group,including shares in associates and
169、joint venturesInvestments in associates and joint venturesConsolidated capacity of EDF GroupNuclear(1)67.855%-0.268.158%Hydro(2)22.618%1.021.518%ENR13.411%3.110.39%Gas(3)11.59%0.111.410%Fuel oil3.73%0.23.53%Coal(4)4.03%1.82.22%Total123.0100%6.1116.9100%572022 ANNUAL RESULTSFranceRenewablesConsolidat
170、ed financial statementsFinancing&cash managementOperational data and marketsStrategy and investments58ELECTRICITY OUTPUT2022 ANNUAL RESULTSOutput from fully consolidated entities(in TWh)20212022Nuclear409.878%328.076%Total ENR67.113%60.214%Hydro(1)46.269%35.659%Wind18.327%21.235%Solar1.83%2.54%Bioma
171、ss0.81%0.92%Gas38.07%36.59%Fuel oil5.11%5.41%Coal3.51%1.70.4%Group523.7100%431.7100%NB:The values correspond to the expression to the first decimal or integer closest to the sum of the precise values,taking into account rounding.(1)Hydro output includes tidal energy for 543GWh in 2021 and 549GWh in
172、2022 as well.Hydro output after deduction of pumped volumes is 40.3TWh in 2021 and 28.2Wh in 2022.FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy and investmentsCO2EMISSIONS(1)CO2emissions from fully consolidated entities NB:The values c
173、orrespond to the expression to the first decimal or integer closest to the sum of the precise values,taking into account rounding.(1)Including direct CO2 emissions,excluding life cycle analysis(LCA)of fuel and production means.(2)Power generation in ZNI:Zones non interconnectes corresponding to over
174、seas departments and Corsica-(mainly island territories)and Electricit de Strasbourg(ES).(3)Framatome contributes to 31ktCO2 in 2021 and in 2022.The direct CO2 emissions from“Others activities”segments are not significant compared to Group total emissions and are not disclosed in this table.(4)Carbo
175、n intensity corresponds to CO2emissions in relation to the Groups electricity and heat generation.The EDF Groups heat generation amounts to 26TWh in 2022(vs 27.5TWh in 2021).Emissions from the heat and power generation by segmentIn ktIn g/kWh(4)20222France Generation and supply activities
176、5,70821%5,32723%1417France Regulated activities(2)3,28512%3,35214%515512Dalkia5,07719%4,12718%186156United Kingdom1,7036%1491%383Italy5,77822%6,84230%274301Other international5,01919%3,25114%233216Group(3)26,601100%23,078100%4850592022 ANNUAL RESULTSFranceRenewablesConsolidated financial statementsF
177、inancing&cash managementOperational data and marketsStrategy and investmentsUNITED KINGDOM:UPSTREAM/DOWNSTREAM ELECTRICITY BALANCE(In TWh)OUTPUT/PURCHASECONSUMPTION/SALES(In TWh)Coal 0.1Nuclear43.6Gas0+1.9-0.4-2.6+3.956.2 2022vs.2021+2.856.2+1.8+0.4+1.6-1.0Centrica(2)8.7Residential12.6Net wholesale
178、market 1.6SME&I&C 33.3+2.8 2022vs.2021Others(1)12.5602022 ANNUAL RESULTS(1)Including wind output and purchase obligations.(2)20%shareholder in the UK nuclear plant(excluding New Nuclear).FranceRenewablesConsolidated financial statementsFinancing&cash managementOperational data and marketsStrategy an
179、d investmentsIMPORT BALANCE AND AVERAGE SPOT PRICES IN 2022(1)Change in average prices vs 2021.(2)Trade(Source:RTE&ENTSO-E Transparency Website)and change vs 2021.(3)Introduction of flow-based coupling mechanism from 21 May 2015 for the entire CWE(France,Benelux,Germany).Average observed spot market
180、 price for 2022:EPEXSPOT:France&GermanyN2EX:United-KingdomOMIE:SpainGME:Italy(Prezzo Unico Nazionale)APX:NetherlandsBELPEX:BelgiumThe average increase in electricity spot prices of 166.7/MWh vs 2021 in France was attributable to the serious increase in commodity prices from mid-2021,and the further
181、rises triggered by the war in Ukraine from February 2022,which peaked at the end of summer 2022This increase is also due to the decrease in generation of nuclear power(-81.7TWh vs 2021),impacted mainly by inspections and repairs needed to address stress corrosion.Thermal and renewable generation(sol
182、ar and wind)increased by 9.5TWh and 6.0TWh respectively,while there was a significant fall in hydropower generation(-9.4TWh)owing to very poor hydropower conditions307.3/MWh275.8/MWh235.5/MWh241.9/MWh240.1/MWh167.5/MWh244.5/MWh+139.0/MWh(1)+102.6/MWh(1)+138.6/MWh(1)+166.7/MWh(1)+181.6/MWh(1)+140.4/M
183、Wh(1)+55.6/MWh(1)CWE(3)16.7TWh+11.0TWh(2)6.8TWh-12.9TWh(2)15.0TWh+7.2TWh(2)5.3TWh-8.7TWh(2)1.3TWh+0.5TWh(2)19.4TWh+0.7TWh(2)34.0TWh+11.1TWh(2)6.6TWh-6.2TWh(2)5.6TWh+0.7TWh(2)17.9TWh-3.4TWh(2)Consumption in France fell sharply(-20.9TWh)to 444.7TWh,amid milder temperatures(+1.6C over the year),particu
184、larly during the winter.This decrease is also due to the high increase in prices and awareness of energy sufficiency612022 ANNUAL RESULTSImport balance France:16.8TWh(exporter in 2021:44.3TWh)Exports:56.0TWh(86.5TWh in 2021)Imports:72.7TWh(42.2TWh in 2021)FranceRenewablesConsolidated financial state
185、mentsFinancing&cash managementOperational data and marketsStrategy and investmentsFORWARD ELECTRICITY PRICES IN FRANCE,THE UK AND ITALY(Y+1)FROM 01/01/2021 TO 31/12/2022(in/MWh)623005306307308309300Jan-21Feb-21 Mar-21Apr-21 May-21Jun-21Jul-21Aug-21 Sep-21 Oct-21Nov-21 Dec-21Jan
186、-22Feb-22 Mar-22Apr-22 May-22Jun-22Jul-22Aug-22 Sep-22 Oct-22Nov-22 Dec-22Electricity-Annual baseload contract France(EEX)Electricity Annual baseload UK(EDF Trading)Electricity-Annual baseload contract Italy(EDF Trading)2022 ANNUAL RESULTSFranceRenewablesConsolidated financial statementsFinancing&ca
187、sh managementOperational data and marketsStrategy and investments(in/MWh)FORWARD ELECTRICITY PRICES IN FRANCE,THE UK AND ITALY(Y+2)FROM 01/01/2021 TO 31/12/20226330800330380430480530Jan-21Feb-21 Mar-21Apr-21 May-21Jun-21Jul-21Aug-21 Sep-21 Oct-21Nov-21 Dec-21Jan-22Feb-22 Mar-22Apr-22 May-
188、22Jun-22Jul-22Aug-22 Sep-22 Oct-22Nov-22 Dec-22Electricity-Annual baseload contract France(EEX)Electricity Annual baseload contract UK(EDF Trading)Electricity-Annual baseload contract Italy(EDF Trading)2022 ANNUAL RESULTSFranceRenewablesConsolidated financial statementsFinancing&cash managementOpera
189、tional data and marketsStrategy and investments(daily average in/MWh)64Baseload electricity spot prices averaged 275.8/MWh in 2022(+166.7/MWh vs.2021).This significant increase was attributable to the serious increase in commodity prices from mid-2021,and the further rises triggered by the war in Uk
190、raine from February 2022,which peaked at the end of the summer before declining considerably.The decrease in generation of nuclear power(-81.7TWh vs 2021),which was due to repairs needed to address stress corrosion,also contributed to the price increasesSource:EPEX00500600700800JanFebMarA
191、prMayJunJulAugSepOctNovDec202120222022 ANNUAL RESULTSMax base 2022 30 August 2022=743.84/MWhMin base 2022 31 December 2022=4.38/MWhMin base 2021 8 August 2021=0.28/MWhMax base 2021 22 December 2021=452.94/MWhFRANCE:BASELOAD ELECTRICITY SPOT PRICESFranceRenewablesConsolidated financial statementsFina
192、ncing&cash managementOperational data and marketsStrategy and investments140.0104.896.5130.8138.4101.796.9113.9Q1Q2Q3Q4(In TWh)176.589.453.4152.4166.077.558.5123.5Q1Q2Q3Q465FRANCE:ELECTRICITY AND GAS OUTPUT2022 ANNUAL RESULTSELECTRICITY(1)(2)GAS(3)20212022Electricity consumption in France was down b
193、y 21TWh(-4.5%)from 2021 Milder temperatures during the winter of 2021-2022 resulted in a 8TWh decrease in consumption for heating,but in the summer,high temperatures drove consumption up by more than 3TWh,mainly for air conditioning use.Greater customer awareness of energy sufficiency,and significan
194、t price rises,led some businesses to scale back their activity,and this also contributed to the general downturn in consumption.Reductions in consumption hit more than 10%in DecemberGas consumption in 2022 in France was down by 46.2TWh(-9.8%)for the yearDuring the last quarter,consumption was down b
195、y 28.9TWh(-19.%)due to awareness of energy sufficiency and the reduction or temporary stop of certain activities(1)Data unadjusted from weather effect and 29 February,including Corsica.(2)Source 2021-2022:RTE monthly overview November 2022:ETR+Corsica consumption.(3)Source:energy monthly data,Service des donnes et tudes statistiques,Ministre de la Transition cologique et SolidaireNovember and December 2022 GRT gas and TEREGA(ex:TIGF).APPENDICES2022 ANNUAL RESULTS