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2018 PERFORMANCE
2018 Performance | 1
MAP OF OUR BUSINESSES ���������������������������������������������������������� 2
SUPPLY OF ELECTRICITY, GAS AND HEATING TO 39.8 MILLION CUSTOMERS ���������������������������������������������������� 4
SOLUTIONS TO SUPPORT CUSTOMERS IN THEIR ENERGY TRANSITION ���������������������������������������������������� 6
EDF GROUP’S NET INSTALLED CAPACITY BY COUNTRY ������������������ 8
EDF GROUP’S NET GENERATION BY COUNTRY ���������������������������� 10
EDF GROUP’S NUCLEAR FACILITIES �������������������������������������������� 12
EDF GROUP’S NET RENEWABLE CAPACITY BY COUNTRY �������������� 14
EDF GROUP’S NET RENEWABLE GENERATION BY COUNTRY ��������� 16
EDF GROUP’S CO2 EMISSIONS IN 2018 ��������������������������������������� 18
FINANCIAL AND NON�FINANCIAL PERFORMANCE ����������������������� 20
2018, A RECOVERY IN FINANCIAL AND OPERATING PERFORMANCE ���������������������������������������������� 22
UNWAVERING COMMITMENT TO LOW�CARBON GROWTH ���������������������������������������������������������� 24
EDF GROUP ���������������������������������������������������������������������������� 26
OPERATING PERFORMANCE ������������������������������������������������������ 30
NON�FINANCIAL RATING ����������������������������������������������������������� 41
35.5 million tonnesWe achieved an exceptional carbon performance in 2018. We moved forward in our plans to divest carbon assets, as I’d previously announced, and continued developing renewable energy and maintaining our low-carbon (nuclear and hydropower) assets to extend their useful life and improve availability. With the help of higher rainfall, we achieved 97% carbon-free electricity in France, and our worldwide emission performance is in a class of its own, at 57 g of CO2/kWh. And that’s not the only good news. Our technical and financial performance also turned around, making 2018 a very satisfactory year.
Jean-Bernard Lévy,EDF Chairman & Chief Executive Officer
THE COVER IMAGE OF THE 2018 PERFORMANCE DOCUMENT IS FROM EDF’S NEW AD CAMPAIGN “BE THE ENERGY FOR CHANGE”, A COLLECTIVE APPEAL TO SPEED UP THE ENERGY TRANSITION MOVEMENT AND THE ERADICATION OF CO2 BY TRANSFORMING OUR GENERATION AND CONSUMPTION PRACTICES.
2 | EDF 2018 Performance | 3
MAP OF OUR BUSINESSES
© E
DF
– Fr
anck
Odd
oux
4 | EDF 2018 Performance | 5
Supply of electricity, gas and heating to 39.8 million customers at 31/12/2018
Europe
FranceEDF:
28.2 MSEI:
1.2 MÉlectricité de Strasbourg:
658,000Dalkia:
around 31,000(2)
United Kingdom
EDF Energy: 5.1 M
Belgium Luminus:
1.7 M
Italy Edison:1.6 M(1)
Electricity34.7 M customersGas5.1 M customers
EDF group supplies electricity and gas to nearly 40 million residential, business and local authority customers worldwide. It is a major energy supplier in the key European markets: Belgium, France, Italy and the United Kingdom. To meet the needs of its customers, increasingly actively engaged with their consumption, EDF offers more and more digital, innovative and local products and solutions.
AfricaUnited Kingdom EDF Energy3.2 M electricity customers1.9 M gas customers
4.9 M residential customers 11.7 TWh electricity sold to residential customers, i.e. 11.2% market share28.8 TWh gas sold to residential customers, i.e. 9% market share
Electricity market3.0 M residential customers0.2 M SME customers2.1 TWh sold to SMEs30.1 TWh sold to large industrial and business customers (a few thousand sites)
United States and Canada EDF Energy Services (100% EDF) Over 700 key accounts100 electricity customers over 700 gas customers
32.3 TWh electricity sold (end-customers)127.8 TWh gas sold (end-customers)Ranked in the top five of retail electricity suppliers in North America.
France EDF26.7 M electricity customers1.5 M gas customers
Over 280 TWh electricity sold, i.e. 65% market share31 TWh gas sold, i.e. 6.6% market share
25.9 M residential customers (over 81% electricity market share)1.5 M business customers (small business and industry customers, local authorities)
France SEI1.2 M electricity customers(3)
26,000 gas customers
8,594 GWh consumed(3)
51% residential consumption 24% retail and service sector consumption 11% business consumption14% public sector purchaser consumption
France Électricité de Strasbourg (ÉS)0.5 M electricity customers 0.1 M gas customers
6 TWh electricity sold4.5 TWh gas sold
461,000 residential customer contracts43,000 small business customer contracts12,000 local authority customer contracts
France Dalkia group31.2 TWh sold (27.1 TWh heating and cooling and 4.1 TWh electricity)
2,300 industrial sites80,000 energy installations managed330 district heating networks2 M homes heated (energy services for buildings)
Belgium Luminus1.1 M electricity customers 0.6 M gas customers
12.3 TWh electricity sold, i.e 20% market share14.9 TWh gas sold, i.e 10.6% market share
United States and Canada
EDF Energy Services:
over 700 key accounts
Italy Edison0.66 M electricity customers 0.94 M gas customers
13.7 TWh electricity sold (end customers)77.5 TWh gas sold (end customers)
Electricity market0.49 M residential customers0.17 M small business and industry customers
Gas market0.93 M residential customers0.01 M small business and industry customers
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) Including customers’ service activities.(2) Dalkia in France and excluding specialist subsidiaries. (3) Excluding Saint-Pierre-et-Miquelon customers.(4) Electricity mainly supplied through photovoltaic facilities and kits combined with a battery or solar electric power.
This map shows the number of customers by site. A customer may have several delivery points: one or more for electricity and another for gas.
Togo BBOXX
Senegal ERA
Côte d’Ivoire
ZECIGhana ZEGHA
South Africa
KES
80,000 customers,i.e. nearly 400,000 people supplied with electricity(4)
6 | EDF 2018 Performance | 7
Solutions to support customers in their energy transition
Active in efficiency, innovative services to support new uses, decentralised electricity generation, urban services and electric mobility, EDF group has a number of specialist companies to support customers in their energy transition. In France, EDF aims to double its revenue generated from the supply of energy services for businesses and local authorities by 2025 and to increase that revenue to €11 billion by 2030.
Data at 31 December 2018. Non�exhaustive list of Group companies.
FranceEDF Store & Forecast (100% EDF)
Optimisation and smart management of local electricity systems using forecasting and storage.
€2.5 million: revenue22 employeesMarket segments: renewable energy producers, network managers, aggregators and self-producers (service sector and industry)
82 MW of capacity installed worldwide (up 121% relative to 2017)95 MW of storage capacity worldwide (up 239% relative to 2017)11,000 tonnes of CO2 avoided
FrancePerfesco (100% EDF)
Design, financing, installation, operation and maintenance of energy efficiency improvement solutions. Performance management and monitoring.
€2 million: revenue10 employeesMarket segments: industry and service sector
15 industrial customer sites, as well as 270 Esso Express service stationsUp to 90% reduction in energy consumption for certain sources
FranceNetseenergy (100% EDF)
Energy management: on-site digital energy audits; monitoring by sensor installation and consumption optimisation.
€7 million: revenue 55 employeesMarket segments: industry, service sector and local authorities
16,000 sites equipped46,000 energy measurement devices read each day
FranceCitelum (100% EDF)
Smart public lighting and urban equipment solutions. Management of connected objects via the Muse® digital platform for managing urban assets.
€318 million: revenue (75% generated outside France)2,500 employeesMarket segments: local authorities, industry and service sector in Europe (Belgium, Denmark, Spain, France, Italy) and the Americas (Brazil, Chile, United States, Mexico)
205 active contracts (public lighting, illumination, maintenance)3 million lighting points managed worldwide30 million people benefiting from lighting worldwide1.7 million connected objects and urban equipment (traffic light, cameras, sensors, etc.) managed by the Muse® platformUp to 75% reduction in customers’ electricity consumptionOver 30 million kWh saved in 2018 through the design and upgrading of public lighting
FranceIzivia (100% EDF)
Electric mobility solutions.
€7.4 million: revenue55 employeesMarket segments: service sector, local authorities, industry, general public; 25% share of B2B/BTG market
8,350 charging points managed and operated200 Corri-Door rapid charging stations located every 80 km on French motorways300 additional stations currently being installed
Share of charging stations operated (as %)
Local authorities 51%
Directly operated 5%
B2B customers 44%
FranceDalkia Froid Solutions (100% Dalkia)
Cooling solutions for industry and the commercial sector, climate engineering and air treatment.
€148 million: revenue1,050 employees, including 600 repair technicians12,000 customers
Breakdown of customers (by market segment)
Industry 2,500
Hotels/restaurants 1,500
Large and medium retailers 2,000
Service sector 1,500
Local authorities 1,000
Other: food and drink, bakeries, retail
outlets, wine production, etc.
3,500
FranceEDF Renouvelables (100% EDF)
Decentralised solar power generation solutions.
€69 million: revenue285 employeesMarket segments: residential and small business customers; 25% share of residential customer market
120 approved installation technicians200 MWp installed1,400 remotely managed solar power plants
Breakdown of customers (by market segment)
Residential customers
21,000
Self-consumption installations 6,600
Small businesses 3,000
FranceDalkia Wastenergy (100% Dalkia)
Waste recycling to generate energy in the form of heat and electricity.
€222 million: revenue1,150 employeesMarket segments: waste management or local authorities
24 waste management authority customers3 million tonnes of waste treated2.7 TWh d’électricité et de vapeur vendus935,000 tonnes of CO2 emissions avoided800,000 people supplied with energy annually
FranceDalkia Biogaz (100% Dalkia)
Design of biogas generation and recycling units.
€20 million: revenue59 employeesMarket segments: industry, farms, non-hazardous waste storage facilities, local authorities
120 GWe produced at 21 sites12,000 tonnes of CO2 avoided
United KingdomImtech (50% EDF Energy/50% Dalkia)
Climate engineering and energy consumption reduction solutions. Low-carbon solutions. Decentralised and renewable energy generation.
€460 million: revenue2,100 employeesMarket segments: buildings, industry, service sector, local authorities
ItalyZephyro (100% Edison)
Energy management and energy efficiency services.
€72 million: revenue250 employeesMarket segments: public administrations
Breakdown of revenue by activity (as %)
Hospitals 81%
Public buildings 7%
Public lighting8%
Residential 1%Other 2%
FranceDalkia Smart Building (100% Dalkia)
Design and construction of digital energy solutions: smart buildings, smart heating and electricity grids.
€102 million: revenue150 employeesMarket segments: local authorities, service sector, green data centres
3,000 customers140 GWh of energy saved annually540 GWh of renewable energy recycled annually100,000 tonnes of CO2 avoided annually
FranceDalkia group (100% EDF)
Development, installation and management of energy solutions and services. Covers the entire value chain, from decentralised generation to managing energy demand.
€4.2 billion: revenue16,600 employeesaround 31,000 customers(1)
Market segments: housing, service sector, industry, health, local authorities
4.2 million tonnes of CO2 avoided in 201838.2% Proportion of renewable or recycled energy
Breakdown of revenue by activity (as %)
Energy services for buildings 36%
Energy services for industry
13% Heating and cooling networks 26%
Installation (design,
construction) 11%
Other 14%
Heating and cooling networks Energy efficiency solutions Decentralised low-carbon generation Recycling local resources Optimisation and smart management of local electricity systems Financing Energy management system Urban services
(1) Dalkia in France and excluding specialist subsidiaries.
8 | EDF 2018 Performance | 9
France(1)
95,317 63,130 22,380 6,505 3,301
131,101 73,782
32,538 12,614 12,088
Italy6,517
4,499 2,018
Belgium1,983
840 768 375
EDF group’s net installed capacity by country (in MWe) at 31/12/2018
Europe 119,571
Nuclear Fossil-fired (coal and fuel oil) Gas (including cogeneration) Renewables (including hydropower)
Portugal205
205
Netherlands435
435
United Kingdom
12,709 7,138 3,991 1,333
247
Americas 7,247
Asia 3,675Laos432
432
China2,659
2,021 525 113
Vietnam402
402 Turkey
267 267
South Africa
56 56
United States(2)
4,871 2,851 2,020
Canada631
631Mexico349
349
Chile188
188
Germany309
309
Poland134
106 28
4,400 2,020
827
Africa 106 106
Middle East 502 502
71,237 26,803 10,859 10,673
2,021 727 525
402
Brazil1,208
827 381
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) Including small hydropower plants in France and assets in overseas France.(2) Excluding EDF Renewables’ energy storage capacity and biogas generation.
Data consolidated according to EDF’s percentage ownership in Group companies, including associates and joint ventures.
Israel193
193
United Arab Emirates
43 43
Morocco50
50
Switzerland1,711
912 450 200 148
Greece250
250
India182
182
The Group is driving its transformation forward based on an energy mix that combines nuclear and renewable power. In France, it is implementing an industrial strategy of extending the operating life of nuclear power plants beyond 40 years by investing €45 billion in the Grand Carénage programme between 2014 and 2025 and preparing to roll out the Solar Power Plan. Internationally, the Group is developing its positions in wind (onshore and offshore), hydro and solar power in new markets: the Middle East, Brazil, Chile, India and China.
10 | EDF 2018 Performance | 11
EDF group’s net generation by country (in GWhe) at 31/12/2018
Nuclear Fossil-fired (coal and fuel oil) Gas (including cogeneration) Renewables (including hydropower)
623,294 475,501
80,884 43,322 23,588
France(1)
463,794 393,176 52,107 9, 872 8,640
United Kingdom71,871
59,098 6,825 4,690 1,258
Italy19,709
15,186 4,523
Belgium 7,467
4,999 1,760 708
Switzerland4,029
1,555 1,386 587 500
Netherlands1,799
1,799
Germany860
860
Portugal491
491
Poland360
254 106
Greece499
499
Bulgaria(2)
156 156
Europe 571,034 458,658 62,411 36,029 13,935
Americas 35,210
Asia 15,446
Canada1,874
1,874Mexico659
659
Chile372
372
16,637 13,809 4,764
9,653 3,059 2,529 205
Brazil5,897
4,764 1, 133
United States(3) 26,409
16,637 9,772
Vietnam2,529
2,529
China10,090
9,653 231 205
Laos2,446
2,446
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) Including small hydropower plants in France and assets in overseas France.(2) Installed capacity sold in May 2018. January-May generation included in the 2018 figure.
(3) Excluding EDF Renewables’ energy storage capacity and biogas generation.
Africa 449 449
Middle East 1,157 1,157
Data consolidated according to EDF’s percentage ownership in Group companies, including associates and joint ventures.
Turkey723
723
South Africa
317 317
Israel251
251
United Arab Emirates
183 183
Morocco132
132
India382
382
The Group’s operating performance was marked mainly by an increase in nuclear generation in France, and very high rainfall in Europe. In the United Kingdom, the fall in nuclear output (4.8 TWh less than in 2017) was attributable for the most part to two extended shutdowns for graphite inspections and safety studies, as well as two additional scheduled shutdowns.
12 | EDF 2018 Performance | 13
(U) Natural uranium graphite gas-cooled reactor (UNGG).(R) Pressurised water reactor (PWR).(E) Heavy water reactor (HWR).(N) Fast-neutron reactor (FNR).
EDF group is the world’s leading nuclear operator, with 58 reactors in France and 15 in the United Kingdom. These facilities give France a considerable lead over its European neighbours in terms of limiting greenhouse gas emissions while keeping the price of electricity down. To maintain its position as leader in the generation of very low-carbon electricity, the Group is accelerating development of renewable energy capacity while also ensuring the safety, performance and competitiveness of its nuclear plants. It has started construction and commissioning of five EPRs in France, China and the United Kingdom.
In the United Kingdom
In the United States In China
EDF group holds 49.99% of Constellation Energy Nuclear Group (CENG), a joint venture with Exelon Corporation, the leading US nuclear energy operator with five reactors at three plants for total capacity of 4,272 MW. The operating licences for Units 1 and 2 at Calvert Cliffs, Units 1 and 2 at Nine Mile Point and for R.E. Ginna are valid for 60 years.
As part of a long-term nuclear power cooperation agreement with Electrabel, EDF holds 50% in undivided co-ownership of the Tihange 1 nuclear power plant through its wholly owned subsidiary EDF Belgium. The capacity attributed to EDF is 481 MW, i.e. 2% of Belgium’s total generation capacity. Luminus (EDF 68.63%) owns 10.2% or 419 MW of the Tihange 2 and 3 and Doel 3 and 4 power plants.
EDF Energy (EDF 100%) owns and operates 15 nuclear reactors at eight power plants. Energy company Centrica has a 20% stake in the company that owns these generation assets.
Breakdown of facilities:
• Seven advanced gas-cooled reactors (AGR), designed for a nominal operating life of 25 years
• One pressurised water reactor (PWR), designed for an operating life of 40 years
Since EDF’s acquisition of British Energy, the operating life of AGR power plants has been extended by an average of eight years. The most recent extensions were announced in February 2016. The operating life of Hartlepool and Heysham 1 was extended by five years, and that of Heysham 2 and Torness by seven years.
EDF Energy has a 66.5% stake in the project to build two PWRs at Hinkley Point, with the remaining 33.5% held by China General Nuclear Power Corporation.
Calvert Cliffs 2
RE Ginna 1
Tihange 1:50%
Tihange 2 and 3:10.2%
Doel 3 and 4:10.2%
Hunterston B 2
520 250
Heysham 2 2
520 250
Torness 2
550 180
Hartlepool 2
530 200
Dungeness B 2
550 200
Gravelines 6
1,830 1,000
Fessenheim 2
694 300
Cruas- Meysse
4 1,307 500
Tricastin 4
1,408 600
Cattenom 4
1,343 795
Paluel 4
1,422 630
Penly 2
770 270
Saint-Alban 2
777 411
Golfech 2
763 250
Blayais 4
1,293 700
Civaux 2
815 250
Nogent- sur-Seine
2 779 400
900 MW PWRs 1,300 MW PWRs 1,500 MW PWRs Advanced gas-cooled reactors (AGRs) EDF group shareholdings
Number of reactors in operation at plant Reactors under construction (EPRs) Reactors being decommissioned Reactors decommissioned
EDF employees at plant Permanent employees
of service providers at plant
Dampierre 4
1,355 580
Belleville 2
782 265
Heysham 1 2
530 200
Chooz 2
764 250
Brennilis
Taishan
Creys- Malville
Flamanville 2
778 370
Saint- Laurent- des-Eaux
2 770 250
Nine Mile Point
2
Net installed capacity:
63,130 MWNet installed
capacity: 8,900 MW
Bugey 4
1,380 800
2(U)
1(R)
Hinkley Point 2
530 220
1(U)
Chinon 4
1,358 700
The Group’s nuclear facilities in France comprise 58 pressurised water reactors (PWR) at 19 power plants owned by EDF. With an average age of around 33 years and estimated technical operating life span of over 40 years, EDF’s nuclear fleet is about average compared to others installed worldwide.
Breakdown of nuclear facilities:
900 MW
34 nuclear units each of 900 MW, average age of 37 years.
1,300 MW
20 nuclear units each of 1,300 MW, average age of 30 years.
1,500 MW
4 nuclear units each of 1,500 MW, average age of 18 years.
EDF’s first-generation plants (nine reactors) were gradually shut down and are now being decommissioned.EDF has 12 reactors (totalling 1.5 GW), which it co-owns with EnBW (17.5% of Fessenheim 1 and 2.5% of Cattenom 1 and 2); Axpo Group (17.5% of Bugey 2 and 3); Engie Group (12.5% of Tricastin 1 to 4); EDF subsidiary Luminus (3.3% of Chooz B1 and B2)
In France In Belgium
EDF group’s nuclear facilities at 31/12/2018
1(U)2(U)
1EPR
2EPR
2EPR
1(E)
1(N)
Sizewell B 1
520 >250
EDF holds 30% of the share capital of TNPJVC (Taishan Nuclear Power Joint Venture Company Ltd), which was set up to build and operate two EPRs, each of 1,750 MW, in Taishan, Guangdong Province. One of these reactors was commissioned in December 2018, making it the world’s first EPR in commercial operation.
14 | EDF 2018 Performance | 15
EDF group’s net renewable capacity by country (in MWe) at 31/12/2018
France(1) 22,380 20,327 1,340 240 240 225 8
2,499
Italy 2,018 988 938 87 5
57
Switzerland 912 836 73 3
Belgium 375 329 46 0,1
Germany 309 184 125
Greece 250 238 12
United States 247 243 4
Portugal 205 205
Poland 106 106
United States 2,851 2,606 205 40
Canada 631 588 42
Brazil 381 199 182
Mexico 349 230 120
Chile 188 131 58
Laos 432 432
India 182 100 82
China 113 103 10
Asia727
432 185 110
Americas(2)
4,400 3,663 697 40
Turkey 267 267
Israel 193 193
South Africa 56 56
Morocco 50 50
United Arab Emirates 43 43
Africa Middle East609
374 235
Europe26,803
22,321 3,656 328 249 240 8
2,557
32,538 22,753 7,877 1,371 289 240 8
2,557
Hydropower
Wind Solar
Biomass Tidal
Geothermal
Renewable Heat (in MWth)
Data consolidated according to EDF’s percentage ownership in Group companies, including associates and joint ventures.
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) Including small hydropower plants in France and assets in overseas France.(2) Excluding EDF Renewables’ energy storage capacity and biogas generation. Europe Americas Asia Africa / Middle East
9122,018
631 432
22,380
2,851
381 375 309 267 250 247 205 193 188 182 113 106 56 50 43349
Brazil
BelgiumMexico
Germany
Turkey
Greece
United Kingdom
Portugal
IsraelChile
India
China
Poland
South Africa
Morocco
United Arab Emira
tes
France
United States
LaosIta
ly
Switzerla
nd
Canada
The share of renewable energy in EDF group’s installed capacity increased to 25%. Excluding hydro, the Group had 9.2 GW of net installed wind and solar power capacity in 2018. It has launched an unprecedented acceleration in renewable energy with the aim of doubling the installed capacity at its renewable facilities from 28 GW in 2014 to 50 GW in 2030.
16 | EDF 2018 Performance | 17
BelgiumBrazil
Canada
Mexico
Germany
Turkey
Greece
United Kingdom
Portugal
IsraelChile
India
China
Poland
South Africa
Morocco
United Arab Emira
tes
France
United States
LaosIta
ly
Switzerla
nd
EDF group’s net renewable generation by country (in GWhe) at 31/12/2018
France(1) 52,107 47,993 2,573 803 522 212 5
8,976
Italy 4,523 3,006 1,365 113 38
33
Belgium 708 567 142
Switzerland 1,555 1,437 115 3
United Kingdom 1,258 1,238 21
Germany 860 620 240
Greece 498 480 18
Portugal 491 491
Poland 254 254
United States 9,772 8,807 665 299
Canada 1,874 1,848 26
Brazil 1,133 678 456
Mexico 659 659
Chile 372 268 103
Laos 2,446 2,446
India 382 214 168
China 231 222 9
Asia3,059
2,446 436 177
Americas(2)
13,809 11,873 1,637 299
Turkey 723 723
South Africa 317 317
Israel 251 251
United Arab Emirates 183 183
Morocco 132 132
Africa Middle East1,605
1,171 434
Europe62,411
53,353 7,323 861 522 347 5
9,010
80,884 55,799 20,804 2,595 1,160 522 5
9,010
Data consolidated according to EDF’s percentage ownership in Group companies, including associates and joint ventures.
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) Including small hydropower plants in France and assets in overseas France.(2) Excluding EDF Renewables’ energy storage capacity and biogas generation. Europe Americas Asia Africa / Middle East
9,7722,446
4,5231,555 1,258 8601,874
659723 708 4981,133 491 251372382 231254317 132183
52,107
Hydropower
Wind Solar
Biomass Tidal
Geothermal
Renewable Heat (in MWth)
EDF group is an active player in the energy transition, with over 80 TWh produced in 2018, the largest producer of renewable energy in Europe and the leading producer of hydropower in the European Union. The very high rainfall in Europe in 2018 led to a record high output of more than 53 TWh (42 TWh in 2017). The share of wind and solar power in the Group’s generation mix now stands at 3%.
18 | EDF 2018 Performance | 19
The reduction in EDF group’s direct greenhouse gas emissions between 2017 and 2018 (88 g/kWh produced in 2017 compared with 66 g/kWh in 2018) is mostly linked to the sale of EDF Polska’s coal-fired plants in Poland, as well as more favourable conditions, such as very high rainfall in Europe and a significant improvement in the availability of French nuclear plants. Although up in 2018, the average price of CO2 would have made it possible to further reduce CO2 emissions by modifying the Group’s merit order,(3) and therefore the use of fuel oil and coal-fired plants.
Comparison of specific CO2 emissions of EDF groupand a panel of European electricity utilities(4) g/kWh
RWE group 682(4)
Enel 411(4)Engie
286(4)
European average 299(5)
Iberdrola 139
EDF SA
EDF group in France(6)
EDF group in Europe
EDF group is one of the world’s leading energy producers, not only in terms of net installed capacity and electricity generation, but also in terms of carbon performance, with very low CO2 intensity, currently at 66 g/kWh produced.(1) This makes the Group the undisputed leader of the electricity sector, where average global emissions stand at around 490 g/kWh.(2)
Data consolidated according to EDF’s percentage ownership, including associates and joint ventures. Calculating net consolidated emissions gives an overall view of all of EDF’s assets, as each plant is included according to EDF ownership.
Fully consolidated, the Group’s specific CO2 emissions, excluding those of equity-accounted companies, amounted to 57 g/kWh.
(1) Direct emissions excluding the life cycle analysis of generating plants and fuel.(2) Source: International Energy Agency, 2018 (2016 figure is the most recent).(3) Ranking of generation facilities (nuclear, fossil-fired, hydro, wind, etc.) by availability and price, establishing the order in which their output is fed into the network. (4) Source: PWC study “Climate Change and Electricity. European carbon factor. Benchmarking of CO2 emissions by Europe’s largest electricity utilities”, December 2018. (5) The most up-to-date data available for CO2 emissions from fossil-fired plants in EU-28. “CO2 Emissions from Fuel Combustion”, International Energy Agency, 2018 (2016 data).(6) EDF generation and sale in mainland France, Corsica and overseas France.
17(6) 58 6632
Fortum 28(4)
EDF group worldwide
0
2
4
6
8
10
12
14
16
18
EDF group’s CO2 emissions in 2018An outstanding carbon performance
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) Including small hydropower plants in France and assets in overseas France.(2) Enercal: electricity generation and distribution subsidiary in Nouméa, New Caledonia.(3) EDM: Électricité de Mayotte.(4) EDF sold its Polish companies but continues to operate in Poland through Dalkia and Edison.
Edison6.6 Mt
6.6 Mt
Dalkia 0.1 Mt
EDF Energy 7.2 Mt
7.3 Mt
San Men Xia 1.2 Mt
Fuzhou 4.0 Mt
Shandong Zhongua 2.6 Mt
7.8 Mt
Group companies in Poland(4)
and Switzerland
1.3 Mt Luminus0.7 Mt
0.7 Mt
Sloe Centrale 0.7 Mt
0.7 Mt
EDF Norte Fluminense
2.0 Mt
2.0 Mt
Vietnam BrazilChinaItaly United Kingdom
Other countries
CO2 emissions of EDF group companies linked to electricity and heat generation in Mt
Belgium Netherlands
Meco1.0 Mt
1.0 Mt
EDM(3) 0.1 MtEnercal(2) 0.2 MtEDF PEI 1.8 MtDalkia 6.2 Mt
EDF 7.5 Mt
15.8 Mt
France(1)
Asia 8.6 Mt
Europe 32.3 Mt
Americas 2.0 Mt
Total: 42.9 Mt
20 | EDF 2018 Performance | 21
FINANCIAL AND NON-FINANCIAL PERFORMANCE
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22 | EDF 2018 Performance | 23
2018, a rebound in financial and operating performance
Double-digit growth in EBITDA for 2018.
This financial performance is mainly attributable to
a 15-year high in hydropower generation in France…
…and a significant improvement in nuclear generation in France…
6
8
10
12
14
16
18
2017 2018
13.74
15.26Target range
€15.3 billion€14.8 billion
(1) Hydropower generation excluding island energy systems before deducting pumping.(2) Output after deducting pumping: 30.0 TWh in 2017 and 39.2 TWh in 2018.
05101520253035404550
2017 2018
37.1(2)
46.5
2018 EBITDA in billions of euros
Nuclear generationin TWh
The Group achieved the upper end of its EBITDA target range…
(1) Excluding Linky, New developments and Group asset disposal plan.
…and significantly exceeded its cash flow target.
Hydropower generation(1)in TWh
200
250
300
350
400
2017 2018
379.1393.2
…with an unmatched level of safety.
Automatic shutdowns of EDF reactors since 2013(1)number
(1) An automatic shutdown is a reactor safety and protection system. It is a key safety indicator that measures quality and diligence in reactor operation.
Sharp increase in availability of nuclear power in France.
Increase in hydropower generation.
All-time low number of shutdowns.
0
8
16
24
32
40
20182016201520142013 2017
34
18
31
38
28
22
+€1.1 billion2018 cash flow up €1.1 billion(1)
compared with a cash flow target of 0.
+25.4%+3.7%
24 | EDF 2018 Performance | 25
Continual commitment to low-carbon growth
Over 90% of the Group’s net investments contribute to reducing the energy system’s carbon intensity…
…financed partly by disposals, which help to reduce the Group’s carbon footprint.
Innovative financing instruments.
Total net investments (excluding Group asset disposal plan)in billions of euros
€14 billion €12.7 billionNet investments in:– renewable and nuclear
energy generation;– electricity grids;– energy services.
Performance plan: debt reduction and strategic refocusing,with €10 billion(1) in disposals between 2015 and 2018
Non-controlled assets €4.3 billion
CO2 intensive businesses and non-core markets €1.6 billion
Gas infrastructure assets €1.7 billion
Real estate assets €1.6 billion
Other €0.8 billion
(1) Net debt reduction impact.
Over €3 billionin disposals of carbon intensive assets between 2017 and 2018
0
1
2
3
4
5
Funds raised(at 31/12/2018)
Funds allocated(at 31/12/2018)
4.5
3.7
95% of EDF’s research and development budget in France dedicated to decarbonising and transitioning energy systems.
Electricity generation (nuclear and renewables) and storage
56%
Electricity grids
10.5%
Other (intellectual property, partnerships, standardisation)
4.5%
Energy solutions and services, mobility and digitisation
19%
Electricity system and market studies
9.5%
Financing capacity of €30 million a year in startups with EDF Pulse Croissance
Sustainable management of regions
Decentralised energy systems
Performance of generation tools
Services to the home
Four areas of focus
Four Green Bond issues since 2013in billions of euros
€480 million(1)
Fossil-fired power plants
0.5%
Financing of:– 25 wind and solar projects worldwide.– Over 400 programmes to renew, upgrade and develop existing hydropower facilities in France.
(1) The amount of €480 million corresponds to the operating expenditure (research activities) of EDF R&D, excluding financial investments and capital expenditure.
26 | EDF 2018 Performance | 27
EDF group
EBITDA by reporting segment in 2018 in Mds€
Fully consolidated Company data at 31 December 2018. 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) IFRS 9 Financial Instruments is applicable as from 1 January 2018, but not retrospectively to 2017.(2) Organic change at constant scope and exchange rates.(3) The number of customers corresponds to the number of gas and electricity delivery points. (4) Excluding employees of Polish companies sold on 30 November 2018 and including Framatome at 31 December 2018. (5) Direct emissions excluding the life cycle analysis of generating plants and fuel.(6) Regulated activities: Enedis, ÉS and island activities; Enedis, an independent EDF subsidiary as defined in the French energy code.
€69 billion sales(1) 4.0% organic growth(2)
€15.3 billion: EBITDA 11.3% organic growth(2)
39.8 million customer sites(3) (34.7 M electricity and 5.1 M gas)
165,790: employees(4)
90%: carbon-free generation(5)
France – Generation and supply activities
41%
France – Regulated activities(6)
32%
International 2%
Dalkia
2%
Other
6%
€15.3 bn United Kingdom 5%
Gas
57%
Other
10%
Fuel oil
1%
Renewables
28%
Coal
4%
31,829 GWh
Nuclear
78%
Hydropower(2)
9%
Other renewables 3%Coal 1%
Fuel oil 1%
584 TWh
Electricity generation in TWh
Heat generation in GWh
Gas 8%
(1) Including marine energy: 0.24 GWe.(2) Including marine energy: 0.5 TWh.
Installed capacity in GWe
Nuclear
58%
Hydropower(1)
17%
Other renewables
8%
Coal
5%
Fuel oil
4%
126.5 GWe Gas
10%
EDF Renewables
6%
Italy 5%
Framatome
1%
Fully consolidated Company data at 31 December 2018.
Linky 0.8
UK NNB
1.6
Services 0.4
Enedis, SEI et ÉS 3.3
Other 1.6
€14 bnGrand Carénage (nuclear maintenance in France)
3.9
Renewables 1.1
Flamanville 3 0.8
Framatome 0.3
New developments in renewables & services 0.2
Total net investments, excluding disposal plan in billions of euros
28 | EDF 2018 Performance | 29
EDF group low-carbon strategyTotal direct CO2 émissions(1) – in Mt CO2
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) Direct emissions excluding the life cycle analysis of generating plants and fuel. (2) Including SEI and PEI emissions in non-interconnected regions (mainly islands).(3) The 35.5 Mt CO2 shown in the 2018 registration document (March 2019) includes, for some minor emission sources, an estimate based on the Group scope and data at the end of 2017. The actual value (35.7 Mt CO2) reflects the change in scope between 2017 and 2018, in particular the integration of Framatome.
0
8
16
24
32
40
2023201820172013 2030
48
56
64
72
80 80.6
35.5(3)
51.3
3530
Assessment of EDF group greenhouse gas emissions in 2018in Mt CO2 equivalent
2030 target:30 Mt CO2 (down 40% from 2017)
EDF group
0
100
200
300
400
500
600
700
2017 2018 2017 2018
Net research and development expenses in millions of euros
612
711
0
10
20
30
40
50
2017 2018
60
70
80 82
57
EDF group carbon factor(1) in g CO2/kWh
Our outstanding performance was linked to:– the high availability of French nuclear
power plants; – the very high rainfall in Europe; – the higher average CO2 price.
Nuclear
39%
Networks
10%
Renewables (including storage)
14%
Energy solutions/services
(including mobility 5%)
13%
23%
Digital and IT 5%
Fully consolidated Company data at 31 December 2018.
EDF group
Market design 9%
Group mandate 8%
Electricity purchased for resale to end customers
Upstream emission related to purchased
Purchases of goods and services
Other emissionsOther emissions
0
8
16
24
32
40
8
16
24
32
40
48
56
64
72
80
8
16
24
32
40
24
32
40
34.9
0.8 0.47
64.7
21.4
9.95.7 4.3 2.6 1.6 0.6
Direct emissions from electricity and
heating plants
Combustion and upstream operations of gas sold
to end customers
Non-controlling interests
Capital goods Purchase of nuclear fuel
Electricity, heating and cooling purchased for Group’s own use
Scope 1 Total 35.7(3)
Scope 2 Total 0.47
Scope 3 Total 110.8
Scope 1: direct GHG emissions due to electricity and heat generation. Scope 2: indirect GHG emissions associated with the generation of electricity, heating and cooling for the Group’s own use. Scope 3: indirect GHG emissions from operations not included in scopes 1 and 2.
–10.8
–3.4–1.6
EDF Polska
Disposal of EDF Polska’s
assets in November 2017
Strong hydro conditions
and improved availability of nuclear
power plants
Electricity generation France(2)
Other
Breakdown of net research and development budget, EDF group as %
(1) Direct emissions excluding the life cycle analysis of generating plants and fuel.
30 | EDF 2018 Performance | 31
OPERATING PERFORMANCE
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32 | EDF 2018 Performance | 33
Electricity generation in TWh
FranceEDF – Generation and supply activities
Installed capacity in GWe
Sales to end-customers 2017-2018(4)(5) in TWh
FranceEDF – Regulated activities (Enedis, ÉS(1) and island energy systems)
Nuclear
71%
Hydropower and other
renewables
22%
Fuel oil
3%Coal 2%
Gas
2%
89.4 GWe
Nuclear
87%
Coal
1% Gas
2%
450.7 TWh
Fuel oil
79%
Hydropower
21%
2.1 GWe
Electricity generation (island energy systems(4)) in TWh
Installed capacity (island energy systems(4)) in GWe
Fuel oil
72%
Hydropower
28%
5.9 TWh
€6.3 billion EBITDA 29.2% organic growth(1)
29.7 million customers(2) (28.2 M electricity and 1.6 M gas)
62,327 employees
98% carbon-free generation(3)
€4.9 billion EBITDA 0.4% organic growth(2)
1.8 million customers (1.7 M electricity and 0.1 M gas)
43,270 employees
28% carbon-free generation(3)
2017 2018
0
50
100
150
200
250
300
350
Local authorities, industry and small businesses (market prices, including transitional offer) Residential customers – market prices Local authorities, industry and small businesses (at regulated tariffs)(6)
Residential customers (at regulated tariffs)
Hydropower and other renewables
10%
0
10
20
30
40
50
60
70
80
2016 2017 2018
Equivalent outage time Enedis(5)in minutes (excl. exceptional and transport-related incidents)
6464.2 65
Fully consolidated Company data at 31 December 2018. 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) Organic change at constant scope and exchange rates.(2) The number of customers corresponds to the number of gas and electricity delivery points. (3) Direct emissions excluding the life cycle analysis of generating plants and fuel.(4) Rounded to the nearest tenth.(5) Including EDF’s own consumption.(6) Blue professional tariff, LDC (Local Distribution Companies) at transfer price and Yellow and Green tariffs, below 36 kVA.
Fully consolidated Company data at 31 December 2018. 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) ÉS Électricité de Strasbourg.(2) Organic change at constant scope and exchange rates.(3) Direct emissions excluding the life cycle analysis of generating plants and fuel.(4) Includes generation of wholly-owned subsidiary PEI, non-regulated activities.(5) Enedis, an independent EDF subsidiary as defined in the French energy code.
36.6
145.4
127.6
34.9
137.4
119.9
309.7292.6
0.1 0.4
34 | EDF 2018 Performance | 35
United KingdomEDF Energy
ItalyEdison
Installed capacity in GWe
Hydropower(4)
16%
Gas(3)
73%
Other renewables(5)
11%
6.3 GWe
Hydropower(7)
16%
Gas(6)
79%
Other renewables(8)
5%
19.7 TWh
Nuclear(3)
84%
Coal(4)
6%
Gas
10%
70.4 TWh
€783 million EBITDA –15.4% organic growth(1)
5.1 million customers (3.2 M electricity and 1.9 M gas)
12,300 employees
84% carbon-free generation(2)
€791 million EBITDA –12.7% organic growth(1)
1.6 million customers (0.7 M electricity and 0.9 M gas)
5,372 employees
21% carbon-free generation(2)
0
400
800
1200
1600
2000
2017 2018 2017 2018
0
520
1,040
1,560
2,080
2,600
2017 2018 2017 2018
1,6641,874
2,349
Nuclear(3)
63%
Coal(4)
28%
Gas(5)
9%
14.2 GWe
Electricity generationin TWh
Petrol and condensate generationin thousands of barrels
Fully consolidated Company data at 31 December 2018. 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) Organic change at constant scope and exchange rates.(2) Direct emissions of EDF Energy excluding the life cycle analysis of generating plants and fuel.(3) Including 4,451 MW in generation and energy efficiency services to 166 MW customers.(4) Including 1,012 MW in generation and energy efficiency services to 2 MW customers.(5) Including 672 MW in generation and energy efficiency services to 3 MW customers.(6) Including 14,724 GWh in generation and energy efficiency services to 859 GWh customers.(7) Including 3,080 GWh in generation and energy efficiency services to 5 GWh customers.(8) Including 994 GWh in generation and energy efficiency services to 3 GWh customers.(9) Includes part of the generation from Croatia (Izabela gas field) imported to Italy since 2014.
Electricity generationin TWh
Installed capacityin GWe
354437
1,636
1,9092,127
0
10
20
30
40
50
60
70
2017 2018
0
20
40
60
80
Nuclear generationin TWh
59
–4.9% compared with 201764
Gas generationin millions of cubic metres
Fully consolidated Company data at 31 December 2018. 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) Organic change at constant scope and exchange rates.(2) Direct emissions of EDF Energy excluding the life cycle analysis of generating plants and fuel.(3) The figures shown represent 100% of nuclear capacity and generation, which break down 80%/20% between EDF Energy and Centrica.(4) Coal capacity represents “connection input capacity”. Net power including biomass. (5) Gas capacity includes 1.35 MW from Barkantine CHP.
Gas in Italy(9)Petrol and
condensates in Italy
Gas excluding ItalyPetrol and
condensates excluding Italy
34.2 SME & IC
11.7 Centrica (20%)
12.8 Residential
17.4 Net wholesale market
76
sales
Upstream/downstream electricitybalance of EDF Energyin TWh
36 | EDF 2018 Performance | 37
BelgiumLuminus and EDF Belgium(1)
Installed capacityin GWe
Nuclear
34%
Hydropower
3%
Gas
47%2.6 GWe
Other renewables
17%
Nuclear
61%
Hydropower
2%
Gas
28%9 TWh
Other renewables
8%
€141 million EBITDA –5.5% organic growth(2)
1.7 million customers (1.1 M electricity and 0.6 M gas)
2,052 employees
72% carbon-free generation(3)
Electricity generationin TWh
Fully consolidated Company data at 31 December 2018. 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) Electrabel, EDF holds 50% in undivided co-ownership of the Tihange 1 nuclear power plant. (2) Organic change at constant scope and exchange rates.(3) Direct emissions excluding the life cycle analysis of generating plants and fuel.
Framatome(1)
€202 million EBITDA contributed to EDF Organic growth not applicable
€261 million net investments in 2018
14,500 employees(2)
(1) On 4 January 2018, Areva NP subsidiary New NP became Framatome, a company owned by EDF group (75.5%), Mitsubishi Heavy Industries (19.5%) and Assystem. See Framatome press release of 4 January 2018.Edvance, owned 80% by EDF and 20% by Framatome, was created in June 2017. It brings together the two companies’ nuclear island engineering (basic and detailed design) and construction (supply, assemblies and startup) activities.(2) Data for Framatome scope at the end of 2018.
A major player in the nuclear sector
€3.3 bnSales(2)
€13 bnFramatome
backlog
56industrial and
commercial locations in
18 countries(2)
6 business units
Installed base: maintenance and engineering services for existing nuclear fleets and plants under construction.
Fuel: development, design, licensing and production of fuel assemblies.
Large projects: management and execution of new build projects.
Components: design and manufacture of heavy and mobile components for nuclear islands.
Instrumentation and Control: design and manufacture of nuclear safety instrumentation and control systems.
Engineering and Design Authority: development, design and licensing of steam supply systems and services.
38 | EDF 2018 Performance | 39
EDF Renewables
Installed capacity in GWe
Wind
51.6%
Wind
83%
Other
2.3%
8.2 GWe
Solar
16%
Solar
46.1%
Fully consolidated Company data at 31 December 2018. 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) 2018, sale by EDF Renouvelables of a 49% interest in 24 wind farms in the United Kingdom. This transaction had no impact on EBITDA as EDF Renouvelables has retained control. (2) Organic change at constant scope and exchange rates.(3) Direct emissions excluding the life cycle analysis of generating plants and fuel.
Hydropower
1%
Wind
85%
Biomass
2%
14.8 TWhe
Solar
12%
Electricity generationin TWhe
Net capacity under construction in GWe
Americas Europe
0
2
4
6
8
10
12
Operation and maintenance capacity in TWh
10.8
4.4
Total15.2
€856 million EBITDA(1) +4.1% organic growth(2)
€903 M EBITDA Generation +15.0%
3,853 employees
100% carbon-free generation(3)
1. 5 GWe
Hydropower
0.5% Biomass
0.5%
0
200
400
600
800
1000
1200
1400
2017 2018
Growth of wind power in France in MWe
1,449.21,536.0 gross(1)
+86.8 MWe
(1) Gross capacity: total capacity of the facilities in which EDF Renewables has a stake.
International France Onshore wind farms under construction at end 2018
Les Taillades (27.2 MW)
Pays d’Anglure (21.6 MW)Parc des Côteaux owned by Futuren (38 MW)
Offshore turbines in FranceThree projects under development in Fécamp, Saint-Nazaire and Courseulles-sur-Mer
+1.4 GW aggregate capacityInvestments: about €6 bn, in partnership with Enbridge.
Energy storageEDF Store & Forecastdevelops and markets software solutions to forecast and automatically control renewable energy generation in real time.
5 MWpof storage capacity (Toucan 1-French Guiana).
Project
5 MWpof storage capacity (Toucan 2-French Guiana).
Onshore wind farms commissioned in 2018
Espiers (18 MW)Guilleville (17.7 MW)Clanlieu (13.2 MW)Demange-aux-Eaux (19.8 MW)Courant-Nachamps (21 MW)
40 | EDF 2018 Performance | 41
NON-FINANCIAL RATING
Breakdown of sales by activity
Dalkia
€292 million EBITDA +12% organic growth(1)
15,000 customer contracts
16,017 employees
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
0
5,600
11,200
16,800
22,400
28,000
Electricity Heat
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
0
5,600
11,200
16,800
22,400
28,000
Net installed capacity Electricity in MWe and heat in MWth
Net generation Electricity in MWe and heat in MWth
6,587
3,341974
295
2,488
8,872718
772
20,767
250
789
15,046
2,212
3,984
31,534
28,326
Fully consolidated Company data at 31 December 2018. 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) Organic change at constant scope and exchange rates. Fully consolidated Company data at 31 December 2018. (2) Category including a share of heat generation from incineration and recovery of heat and electricity from other industrial processes.(3) Category including facilities running on landfill gas, gas from wastewater treatment plants and biogas.
Heating and cooling networks
26%
Other
14%
Installation (design, construction)
11%
Energy services for buildings
36%
Energy Services for industry
13%
1,173
802
2,935
Gas MWe
Fuel Oil MWth
Other(2) Coal MWe
Biomass and other renewables(3)
MWth
Electricity Heat
248
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EDF group confirmed its strong non-financial performance in 2018, with continued inclusion in the DJSI World index, STOXX ESG Leaders index and all Euronext Vigeo Eiris indexes, and reintroduction into the CDP Climate Change A List.EDF group submits its performance data in response to requests from non-financial rating agencies and non-financial analysis departments working on behalf of investors. Using their own methodologies, the agencies assess and assign scores to companies based on their policies and results in the area of sustainable development. They create and manage the indexes that are used by socially responsible investment (SRI) analysts to guide their investment choices.
SAM Dow Jones Sustainability Indexes (DJSI)In 2018, EDF obtained the score of 79/100, while the average sector score for Electric Utilities stood at 46/100. EDF is a member of the DJSI World index for the third year running since it was first included in 2016. EDF is one of the 478 Sustainability Leaders among the 2,479 companies assessed by RobecoSAM in 2018 and ranked eighth out of the 91 Elec�tric Utilities (fifth out of 98 in 2017 and sixth out of 92 in 2016). In its 2018 Sustainability Yearbook, RobecoSAM was again awarded EDF group with the Bronze Class distinction, meaning that it performs in the top 10% of its sector.
RobecoSAM ratings 2014 2015 2016 2017 2018 TrendEDF overall score (0 to 100) 79 79 87 84 79
Electric Utilities sector average 56 52 52 50 46
ESG criteria2014 2015 2016 2017 2018 Trend
Economic 81 75 90 85 79
Environment 82 76 82 83 78
Social 75 87 90 85 79
CDP Climate ChangeEDF made it back into the A List in 2018, once again meeting the standard’s rigorous criteria. The Group was first included in 2016. In 2017, EDF obtained the score of A– and the Leadership Level.
EDF group also participates in CDP Water and was awarded a score of C in 2018 (B, or Management Level, in 2015, 2016 and 2017, on a scale of A to D-).
In addition, EDF takes part in the CDP Supply Chain assessment every year. The Group’s key accounts in France and abroad request its response as a supplier for both the climate change and water-related risk sections of the questionnaire.
CDP Climate Change ratings2014 2015 2016 2017 2018 Trend
Performance (D– to A) B A– A A– A
CDP Water ratings2015 2016 2017 2018 Trend
Performance (D– to A) B B B C
FTSE group EDF group has been included in the FTSE4Good Index since 2012. The criteria for inclusion are reviewed every six months. EDF has met these criteria each time since it was first included in the index, and was most recently confirmed in July 2018. Achieving an overall score of 4.4 out of 5 and a relative performance of 95 out of 100 in 2018, EDF group ranked third in the Utilities sector out of all companies assessed.
FTSE ESG ratings
2014 June 2015
Dec. 2015 2016 2018 Trend
Absolute overall score (0 to 5) 4.3 4.3 4.5 4.6 4.4
Activity sector relative score (0 to 100)
100 EDF 1er
98 EDF 2e
100 EDF 1er
99 EDF 2e
95 EDF 3e
ESG criteria
2014 June 2015
Dec. 2015 2016 2018 Trend
Environment 4.3 4.3 4.5 4.6 4.5
Social 4.0 4.3 4.7 4.5 4.3
Government 4.6 4.3 4.4 4.7 4.6
Non-financial rating
Euronext Vigeo EirisIn November 2012, Euronext and Vigeo jointly launched a range of indexes identifying listed companies demonstrating the best CSR perfor-mance. These indexes are updated twice a year, in May and November. At the end of November 2018, EDF was included in all the indexes that it could apply for: the Euronext Vigeo World 120, Europe 120, Eurozone 120 and France 20 indexes. In 2018, the Group scored 66 out of 100, 6 points higher than the previous score of 60/100 in 2016 (58/100 at the end of 2014), achieving Advanced Level for the second time. The Group ranked fifth among the 62 companies in the Electric & Gas Utilities sector.
Vigeo Eiris ratings2012 2014 2016 2018 Trend
EDF overall score (0 to 100) 55 58 60 66
Ranking in the utilities sector 9e sur 34
10e sur 43
NC sur 48
5e sur 62
ESG criteria2012 2014 2016 2018 Trend
Environment 64 61 61 66
Human resources 71 76 70 73
Human rights 54 58 64 72
Community involvement 59 70 63 66
Business behaviour 34 39 50 62
Governance 54 54 58 57
SustainalyticsIn 2018, EDF group scored 83/100, up 1 point from 2017 (82/100), 5 points from 2015 (78/100) and 7 points from 2014. The Group ranked sixth out of the 193 companies assessed in the Utilities sector, i.e. within the top 4%. For the second year in a row, EDF group was recognised as a leader among its peers (companies of a similar size in its business sector). EDF is a member of the STOXX ESG Leaders index.
Sustainalytics ratings
2014 2015 2017 2018 2018 status Trend
EDF overall score (0 to 100) 76 78 82 83 97e
percentileRanking in utilities sector
14e sur 224
16e sur 246
9e sur 225
6e sur 193 Leader
ESG criteria2014 2015 2017 2018 2017 status Trend
Environment 74 79 82 84 Leader
Social 78 76 83 85 Leader
Government 78 79 81 79 Outperformer
Oekom In 2018, EDF obtained the overall score of C+ and, for the second year running, a B– in the Social and Governance category. Its overall rating has remained stable for the past five years at C+ in 2014, 2015, 2016 and 2017, and C in 2013, on a scale ranging from A+ to D–. Of the 104 com-panies in the Electric Utilities sector assessed in 2018, EDF came in among the top 20% and was one of the rare companies in its sector to score B– in the Social and Governance category.
Oekom ratings
2014 2015 2017 2018 Trend 2017 status
EDF overall score (D– to A+) C+ C+ C+ C+ Not
prime
ESG criteria
2014 2015 2017 2018 Trend 2017 status
Environment C+ C+ C+ C+ Not prime
Social and governance C+ C+ B– B– Prime
Morgan Stanley Capital International (MSCI) In 2018, EDF achieved Advanced Level, scoring A (on a scale ranging from CCC to AAA), as in 2017, 2016 and 2015.
MSCI ratings2014 2015 2016 2017 2018 Trend
EDF overall score (CCC to AAA) A A A A A
ESG criteria2014 2015 2016 2017 2018 Trend
Environment (0 to 10) 6,3 7,1 7,1 6,8 6,6Social (0 to 10) 5,1 3,2 3,2 3,2 5,5Governance (0 to 10) 5,8 3,9 3,9 2,8 3,8
NA: not applicable.NC: not communicated.
The assessments made by the main specialist rating agencies and managers of ethical funds indicate the Group’s CSR performance in its sector.
44 | EDF
Non-financial ratingEcovadisIn November 2017, EDF scored 75/100 and Advanced Level, 3 points more than in 2016 (72/100) and 8 points more than in 2015. The Group ranked among the top 3% of companies in its business sector and the top 1% of companies across all sectors. It achieved the Gold Recognition Level, which is awarded to companies with a score of over 60/100.
Ecovadis ratings
2015 2016 2017 2018 Trend 2018 status
EDF overall score (0 to 100) 72 72 75 70 Advanced
ESG criteria
2015 2016 2017 2018 Trend 2018 status
Environment 80 80 90 80 Advanced
Social 70 70 80 70 Advanced
Ethics 60 60 50 60 Confirmed
Supply chain 70 70 60 60 Confirmed
Centre Français d’Information sur les Entreprises (CFIE) For the past 16 years, CFIE, the French centre for information on companies, has been publishing an annual review of the quality of the labour and environmental information published in the annual reports of major French companies, with quality being assessed according to the completeness and accuracy of the information disclosed. In 2018, for the second consecutive year, the Group ranked first among the 22 companies assessed, with a score of 74.4/100 (77.3/100 coming in first out of 22 in 2017, 75/100 at second out of 36 in 2016, and 74/100 at second out of 36 in 2015).
CFIE ratings
2014 2015 2016 2017 2018 2018 status Trend
EDF overall score (0 to 100)
65.4 74 75 77.3 74.4 A
Rankingamong majorcompaniesassessed
7e sur 44
2e sur 36
2e sur 36
1er sur 22
1er sur 22 Top 5
ESG criteria
2014 2015 2016 2017 2018 2018 status Trend
Environment (0 to 30) 20 21.4 21 22.2 21.7 A
Social (0 to 30) 21 23.8 22.2 22.6 21.7 A
SocialResponsibility (0 to 30)
17.4 19.8 22.8 22.8 21.6 A
Organisation (0 to 10) 7 9 9 9.7 9.4 A
Editorial design: Investors and Markets Division, Sustainable Development Division and Communications Division.Design and production: Copyright registration: ISSN under way. Translation: ALTO International.
THE
EDF
GR
OU
P IS
ISO
14
001
CER
TIFI
ED.
JU
NE
2019
EDF 22-30, avenue de Wagram 75382 Paris Cedex 08 – France
SA share capital €1,505,133,838.00 552 081 317 RCS Paris
www.edf.fr
BE THE ENERGY
FOR CHANGE.
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