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1、To build a net zero energy future with electricity and innovative solutions and services,to help save the planet and drive wellbeing and economic developmentINCLUDING THE ANNUAL FINANCIAL REPORTUNIVERSAL REGISTRATION DOCUMENT 2023Content/AFR/This information is part of annual financial report,as req
2、uired by Article L.451-1-2 of the French Monetary and Financial Code.1.The Group,its strategy and activities51.1Key figures and business model/AFR/61.2Group presentation101.3Group strategy and objectives/AFR/161.4Description of the Groups activities211.5Research&development,patents and licences1012.
3、Risk factors and control framework/AFR/1052.1Risk management and control of activities1062.2Risks to which the Group is exposed1143.Non-financial performance/AFR/145Corporate social responsibility issues and commitments1463.1Carbon neutrality and the climate1503.2Preserving the planets resources1763
4、.3Well-being and solidarity1933.4Responsible development2223.5CSR Governance2373.6Methodology2423.7Appendices and Independent Third-Party report2493.8Vigilance plan2784.Corporate governance/AFR/2914.1Corporate Governance Code2924.2Members and functioning of the Board of Directors2944.3Executive Mana
5、gement 3254.4Conflicts of interest and interests of corporate officers and executives3274.5Shareholdings of the corporate officers in the Companys share capital3284.6Remuneration and benefits of the corporate officers 3285.Financial performance and outlook/AFR/3335.1Review of the financial situation
6、 and results 20233345.2Subsequent events until closing of accounts3565.3Subsequent events to closing of accounts3565.4Changes in market prices at the end of February 20243566.Financial statements/AFR/3576.1Consolidated financial statements at 31 December 20233586.2Statutory auditors report on the co
7、nsolidated financial statements4866.3EDF SA financial statements at 31December 20234916.4Statutory Auditors report onthefinancial statements5616.5Dividend policy5656.6Other information5666.7Information on the allocation of the funds raised as part of EDFs green financing5687.Information about the Co
8、mpany and its capital5797.1General information about the Company5807.2Incorporation documents and articles of association5837.3Information regarding capital and share ownership/AFR/5857.4Transactions with related-parties5907.5Material contracts/AFR/5938.Additional information5958.1Person responsible
9、 for the Universal RegistrationDocument and the Certification/AFR/5968.2Auditors Statutory Auditors5968.3Publicly available documents LEI number5978.4Concordance tables5988.5Glossary605EDF|Universal Registration Document 20233UniversalRegistrationDocument 2023Including the annual financial reportBE
10、THE ENERGY FOR CHANGEThis Universal Registration Document(URD)was filed on 4 April 2024 with the French Financial Markets Authority(AMF),the competentauthority under Regulation(EU)2017/1129,without prior approval in accordance with Article 9 of that Regulation.This Universal Registration Document ma
11、y be used for the purposes of an offer of securities to the public or the admission of securities totrading on a regulated market if it is supplemented by a securities note and,if applicable,a summary and any amendments made to theUniversal Registration Document.The set of documents formed thereof i
12、s approved by the AMF in accordance with EU Regulation 2017/1129.This document is a translation into English of the Universal Registration Document issued in French and it is available on the Companyswebsite.All possible care has been taken to ensure that the translation is an accurate presentation
13、of the original.However,the version of theURD issued in French is the only binding version.Copies of this 2023 Universal Registration Document are available free of charge from EDF(22-30,avenue de Wagram,75382 Paris cedex 08)and on its website(https:/www.edf.fr),as well as on the AMFs website(https:
14、/www.amf-france.org).This document should be read with the reading caveats on the last page of this document available by clicking here.www.edf.fr4EDF|Universal Registration Document2023The Group,its strategy and activitiesEDF|Universal Registration Document 202351.1Key figures and business model61.
15、2Group presentation101.2.1Organisation of the Group101.2.2Group history121.2.3Significant events141.3Group strategy and objectives161.3.1Environment and strategic challenges161.3.2Strategic priorities 161.4Description of the Groups activities211.4.1Electricity generation activities211.4.2Sales and s
16、upply activities inFrance521.4.3Optimisation activities in France571.4.4Regulated transmission and distribution activities in France581.4.5International activities691.4.6Energy services and other activities941.5Research&development,patents and licences1011.5.1R&D programmes1011.5.2Intellectual prope
17、rty policy1031.Key figures and business model1.1Key figures and business model1.www.edf.fr6EDF|Universal Registration Document2023The Group,its strategy and activitiesCarbon intensity trajectory(In gCO2/kWh)Net installed renewable capacity by sector at end-2023Installed capacities(1)Net investments
18、excluding disposal plan(1)Consolidated data.(1)Including sea energy:0.24GW.(2)Biomass,geothermal energy.(1)Mainly thermal maintenance,gas,property,central functions.(2)Including Hinkley Point C,Flamanville 3,EPR2.EDF Carbon trajectoryEDF,the renewable energyleader in Europe(1)EU27 value in 2022,Euro
19、pean Environment Agency.Key figures2023More than 6 times lower than the European average.Solar powerOtherWind37.7 GWHydropower(1)Fuel OilGasCoalOther EnRHydropower117.3GWNuclear20222023139.7143.5 0.4 GW4.7 GW9.9 GW22.6 GW(2)467.6TWh92.8%Low-carbon production(3)Fuel OilCoalNuclear77.7%9.1%6.1%0.1%1.0
20、%Other EnR6.0%ServicesNew nuclear(2)RenewablesNuclear maintenance(France,Belgium and UK)including Grand CarnageNetworks19.1 billionGas,ThermalOther(1)0.64.50.35.34.90.62.5France Generation and supply activities:24.7France Regulated activities(1):3.7United Kingdom:4.0Italy:1.9Other international:0.9O
21、ther activities:3.3 Framatome:0.3EDF Renewables:0.9Dalkia:0.4Framatome0.402022-5-540202339.92022202318.5-12.7-15202022202354.464.5075Electricity generation(1)(1)Generation by fully consolidated entities.(2)Hydropower generation including pumped storage consumption and sea energy.(3)Direct CO2 emissi
22、ons related to generation,excluding life cycle analysis(LCA)of the means of generation and fuels.GasHydropower(2)Solar powerOtherWind37.7 GWHydropower(1)Fuel OilGasCoalOther EnRHydropower117.3GWNuclear20222023139.7143.5 0.4 GW4.7 GW9.9 GW18%10%1%3%58%10%22.6 GW20302050202320222021485037030(2)467.6TW
23、h92.8%Low-carbon production(3)Fuel OilCoalNuclear77.7%9.1%6.1%0.1%1.0%Other EnR6.0%France Generation and supply activities:24.7France Regulated activities(1):3.7United Kingdom:4.0Italy:1.9Other international:0.9Other activities:3.3 Framatome:0.3EDF Renewables:0.9Dalkia:0.4Framatome0.402022-5-5402023
24、39.92022202318.5-12.7-15202022202354.464.5075GasHydropower(2)Solar powerOtherWind37.7 GWHydropower(1)Fuel OilGasCoalOther EnRHydropower117.3GWNuclear20222023139.7143.5 0.4 GW4.7 GW9.9 GW18%10%1%3%58%10%22.6 GW20302050202320222021485037030(2)467.6TWh92.8%Low-carbon production(3)Fuel OilCoalNuclear77.
25、7%9.1%6.1%0.1%1.0%Other EnR6.0%ServicesNew nuclear(2)RenewablesNuclear maintenance(France,Belgium and UK)including Grand CarnageNetworks19.1 billionGas,ThermalOther(1)0.64.50.35.34.90.62.5Framatome0.4GasHydropower(2)Solar powerOtherWind37.7 GWHydropower(1)Fuel OilGasCoalOther EnRHydropower117.3GWNuc
26、lear20222023139.7143.5 0.4 GW4.7 GW9.9 GW18%10%1%3%58%10%22.6 GW20302050202320222021485037030(2)467.6TWh92.8%Low-carbon production(3)Fuel OilCoalNuclear77.7%9.1%6.1%0.1%1.0%Other EnR6.0%ServicesNew nuclear(2)RenewablesNuclear maintenance(France,Belgium and UK)including Grand CarnageNetworks19.1 bill
27、ionGas,ThermalOther(1)0.64.50.35.34.90.62.5France Generation and supply activities:24.7France Regulated activities(1):3.7United Kingdom:4.0Italy:1.9Other international:0.9Other activities:3.3 Framatome:0.3EDF Renewables:0.9Dalkia:0.4Framatome0.402022-5-540202339.92022202318.5-12.7-15202022202354.464
28、.5075GasHydropower(2)Solar powerOtherWind37.7 GWHydropower(1)Fuel OilGasCoalOther EnRHydropower117.3GWNuclear18%10%1%3%58%10%22.6 GW20302050202320222021485037030(2)467.6TWh92.8%Low-carbon production(3)Fuel OilCoalNuclear77.7%9.1%6.1%0.1%1.0%Other EnR6.0%ServicesNew nuclear(2)RenewablesNuclear mainte
29、nance(France,Belgium and UK)including Grand CarnageNetworks19.1 billionGas,ThermalOther(1)0.64.50.35.34.90.62.5France Generation and supply activities:24.7France Regulated activities(1):3.7United Kingdom:4.0Italy:1.9Other international:0.9Other activities:3.3 Framatome:0.3EDF Renewables:0.9Dalkia:0.
30、4Framatome0.402022-5-540202339.92022202318.5-12.7-15202022202354.464.5075251(1)1.Key figures and business modelEDF|Universal Registration Document 20237The Group,its strategy and activitiesEBITDAIn billions of eurosSalesIn billions of eurosNet income excluding non-recurring itemsIn billions of euros
31、20222023139.7143.5 0.4 GW4.7 GW9.9 GW18%10%1%3%58%10%22.6 GW20302050202320222021485037030(2)467.6TWh92.8%Low-carbon production(3)Fuel OilCoalNuclear77.7%9.1%6.1%0.1%1.0%Other EnR6.0%ServicesNew nuclear(2)RenewablesNuclear maintenance(France,Belgium and UK)including Grand CarnageNetworks19.1 billionG
32、as,ThermalOther(1)0.64.50.35.34.90.62.5France Generation and supply activities:24.7France Regulated activities(1):3.7United Kingdom:4.0Italy:1.9Other international:0.9Other activities:3.3 Framatome:0.3EDF Renewables:0.9Dalkia:0.4Framatome0.40GasHydropower(2)Solar powerOtherWind37.7 GWHydropower(1)Fu
33、el OilGasCoalOther EnRHydropower117.3GWNuclear20222023139.7143.5 0.4 GW4.7 GW9.9 GW18%10%1%3%58%10%22.6 GW20302050202320222021485037030(2)467.6TWh92.8%Low-carbon production(3)Fuel OilCoalNuclear77.7%9.1%6.1%0.1%1.0%Other EnR6.0%ServicesNew nuclear(2)RenewablesNuclear maintenance(France,Belgium and U
34、K)including Grand CarnageNetworks19.1 billionGas,ThermalOther(1)0.64.50.35.34.90.62.5France Generation and supply activities:24.7France Regulated activities(1):3.7United Kingdom:4.0Italy:1.9Other international:0.9Other activities:3.3 Framatome:0.3EDF Renewables:0.9Dalkia:0.4Framatome0.402022-5-54020
35、2339.92022202318.5-12.7-1520GasHydropower(2)Solar powerOtherWind37.7 GWHydropower(1)Fuel OilGasCoalOther EnRHydropower117.3GWNuclear20222023139.7143.5 0.4 GW4.7 GW9.9 GW18%10%1%3%58%10%22.6 GW20302050202320222021485037030(2)467.6TWh92.8%Low-carbon production(3)Fuel OilCoalNuclear77.7%9.1%6.1%0.1%1.0
36、%Other EnR6.0%ServicesNew nuclear(2)RenewablesNuclear maintenance(France,Belgium and UK)including Grand CarnageNetworks19.1 billionGas,ThermalOther(1)0.64.50.35.34.90.62.5France Generation and supply activities:24.7France Regulated activities(1):3.7United Kingdom:4.0Italy:1.9Other international:0.9O
37、ther activities:3.3 Framatome:0.3EDF Renewables:0.9Dalkia:0.4Framatome0.402022-5-540202339.92022202318.5-12.7-15202022202354.464.5075GasHydropower(2)Solar powerOtherWind37.7 GWHydropower(1)Fuel OilGasCoalOther EnRHydropower117.3GWNuclear20222023139.7143.5 0.4 GW4.7 GW9.9 GW18%10%1%3%58%10%22.6 GW203
38、02050202320222021485037030(2)467.6TWh92.8%Low-carbon production(3)Fuel OilCoalNuclear77.7%9.1%6.1%0.1%1.0%Other EnR6.0%ServicesNew nuclear(2)RenewablesNuclear maintenance(France,Belgium and UK)including Grand CarnageNetworks19.1 billionGas,ThermalOther(1)0.64.50.35.34.90.62.5France Generation and su
39、pply activities:24.7France Regulated activities(1):3.7United Kingdom:4.0Italy:1.9Other international:0.9Other activities:3.3 Framatome:0.3EDF Renewables:0.9Dalkia:0.4Framatome0.402022-5-540202339.9(1)Regulated activities:Enedis,S and island activities;Enedis,an independent EDF subsidiary as defined
40、in the French energy code.NB:Estimated figures for changes in EBITDA.Net financial debtIn billions of eurosKey figures and business model1.www.edf.fr8EDF|Universal Registration Document2023The Group,its strategy and activitiesModle daffairesAssets and resourcesBusiness modelThe Raison dtre of EDFTo
41、build a net zero energy future with electricity and innovative solutions and services,to help save the planet and drive wellbeing and economic development.2035Industrial and human challenges for all of the Groups business lines,in France and internationally.Generatingmore low carbon electricity with
42、 nuclear and renewablesSupporting our customers to reduce their carbon footprintDeveloping networks to meet the challenges of the energy transition*Developingflexibility solutions to meet the needs of the electricity systemCustomer proximity 34.3 million electricity customers 6.6 million gas custome
43、rs(1)Leading brands:EDF,Edison,Luminus,Dalkia 198.2 million visits on digital consumption monitoring platforms(2)A human ambition 179,550 employees(3)80.6%of employees took part in a skills development initiative during the year(3)An ambitious innovative ecosystem 2,098 R&D employees in EDF SA Conso
44、lidated R&D budget of 706 million in 2023(Group scope)747 innovations patented by R&D (EDF&Enedis)at the end of 2023Major industrial assets 117.3 GW of electricity generation capacity(4)An integrated nuclear industry EPR technology A portfolio of wind and solar projects of circa 98 GW gross(5)1.4 mi
45、llion km of distribution networks(6)42.6 million smart meters installed(3)330 heating and cooling networks operated by Dalkia A strong CSR commitment A-rating by Climate Change&Water Security 4th in the WBA Climate and Energy Benchmark ranking 25.3 billion of green&sustainable funding(1)Consolidated
46、 scope.Counted per site.(2)EDF SA scope excluding French overseas departments and Corsica.(3)Group scope.(4)Consolidated data at Group scope.(5)Group scope.Pipeline excluding capacity under construction.All the projects in prospection phase included in the pipeline,starting 2020.(6)Enedis distributi
47、on network under concession.*In France,the public distribution network is managed independently by Enedis.1.Key figures and business modelEDF|Universal Registration Document 20239The Group,its strategy and activitiesValue creation 2023The breakdown of CSR issues into 16 commitments Ambitious carbon
48、trajectory Carbon contribution solutions Adapting to climate change Developing electricity use and energy services Biodiversity Responsible land management Integrated and sustainable water management Radioactive and conventional waste,and circular economy Security,health and safety for all Ethics,co
49、mpliance and human rights Equality,diversity and inclusion Energy poverty and social innovation Dialogue and consultation with stakeholders Responsible regional development Development of industrial sectors Data responsible companyFor partners and territories SMEs account for 22,7%of the procurement
50、 of EDF and Enedis 1 direct EDF SA job generates 4.3 jobs in France 100%of projects are subject to consultation(6)For the employees An employee engagement index of 74%(7)31.7%of women on the Management Committees(8)An average salary equity ratio(9)of 5.8For the climate and environment A net zero emi
51、ssions ambition by 2050 Electricity generation of 467.6 TWh,93%decarbonised(1)with emissions of 37 gCO2/kWh(2)EDF,a water sharing player:water intensity of 0.83 l/kWh(3)New commitments for biodiversity(2023-2025)as part of the Act4nature international initiative and implementation of the new TNFD(4)
52、reporting framework expected by 2025For customers High customer satisfaction level Nearly 390,000 energy advice actions for customer as part of Energy Support Service(5)SuppliersPurchases(10)10.5 bnEDF Group Global CSR agreementStates and TerritoriesTaxes(11)4.1 bnEmployeesRemuneration(12)15.5 bnSha
53、ring added value with our stakeholders(1)Direct CO2 emissions related to generation,excluding life cycle analysis of generation plants and fuel.(2)Specific CO2 emissions due to heat and electricity generation.Group scope.(3)Water consumed/total electricity generation of the fleet.Group scope.(4)Task
54、force on Nature-related Financial Disclosure(TNFD).(5)EDF SA scope.(6)Projects over 50 million in accordance with the Equator Principles-Group scope.(7)MyEDF Group internal survey.(8)Group scope.(9)EDF SA scope-ratio established in accordance with the guidelines published by AFEP.(10)Consolidated ot
55、her external expenses.(11)Consolidated taxes,excluding income taxes.(12)Consolidated personnel expenses.Sales139.7 bnEBITDA39.9 bn Net income excluding non-recurring items18.5 bnGroup presentationEDF Inc.17.5%Ocane Re99.9%Groupe EDF Trading100%La Grance Gnrale Foncire100%75.5%*80%20%EDF Internationa
56、l100%EDF Renewables100%IZI Confort 100%Dalkia99.9%EDF Immo100%Socit C3100%EDF Holding SASEDF Pulse HoldingHynamics100%100%100%SOFILO100%Wagram Insurance Company100%EDF Investissements Groupe92.5%lectricit de StrasbourgAgregio Solutions*88.6%100%CyclifeEnergy2Market(E2M)100%100%Domofinance45%Sowee100
57、%IZI Solutions/IZI Solutions Renov100%EDF ENRIZIVIANUWARD*100%100%100%EdvanceCTE*50.1%Enedis100%EDEV100%Framatome*Coentreprise de Transport dlectricit(CTE),a company owning 100%of RTE.*Agregio Solutions is the result of the merger of two existing subsidiaries:Agregio and EDF Store and Forecast(see t
58、he press release of 16 May 2023“The EDF Group launches Agregio Solutions for an enhanced offer of flexibility and renewable energy management”).*EDF acquired Assystems 5%share in Framatome,and thus raised its investment to 80.5%(see note14.5“Non-controlling interests”to the consolidated financial st
59、atements for the financial year ended on 31 December 2023).*Subsidiary created in 2023.See the press release of 30 March 2023“EDF announces the creation of its subsidiary NUWARD to boost the development of its SMR now entering the basic design phase”.1.2Group presentation1.2.1Organisation of the Gro
60、upA simplified organisational chart for EDF group at 31 December 2023 is shown below.The percentages for each entity correspond to theownership interest in capital.The companies or groups of companies within EDF groups scope of consolidation are indicated in note 3.3 ofthe appendix to the consolidat
61、ed financial statements for the financial year ended on 31 December 2023.The changes in the 2023 scope arediscussed in note 3.1.1 of the appendix to the consolidated financial statements for the financial year ended on 31 December 2023.1.www.edf.fr10EDF|Universal Registration Document2023The Group,i
62、ts strategy and activities1.Group presentationEDF|Universal Registration Document 202311The Group,its strategy and activities97.2%FS GmbH50%EDF Energy Nuclear Generation Ltd.100%NNB Holding Company(HPC)Ltd.67.7%*Lake Acquisitions Ltd.80%EDF Energy Holding Ltd.100%49%Companhia Electrica de Sinop(CES)
63、/Brazil51%Luminus68.6%EDF Trading North America100%EDF Belgium100%EDF Inc./United States82.5%EDF Norte Fluminense/Brazil100%Shandong Zhonghua Power Company Ltd./China19.6%Datang Sanmexia Power Company Ltd./China35%100%EDF(China)Holding Ltd.25.6%Meco/Vietnam56.3%EDF Energy UK/United Kingdom100%TDE Sp
64、A100%EDF Gas Deutschland100%4.4%EDF InternationalJiangxi Datang International Fuzhou Power Generation Company Ltd./ChinaGroupe EDISON/ItalyNNB Holding Company(SZC)Ltd.49.4%*Taishan Nuclear Power Joint Venture/China*See note14.5“Non-controlling interests”to the consolidated financial statements of th
65、e financial year ended on 31 December 2023.Group presentationNationalisation of the electricity and gas sectors.Creation of EDF as an EPIC*inaccordance with the law of8April 1946.Opening of the French market,first for B2B(2000 to 2004),then for B2C(2007).On November 2004,EDF becomes a French SA.IPO
66、of EDF.Spin-off of RTE to guarantee non-discriminatory access tothemarket.Launch of the commercial-scale nuclear programme.Development of the French industrial base,including hydroelectric and nuclear power plants.Start of the international development,first in South America,then in Europe with the
67、United Kingdom(from1998onwards),Germany(2001)andItaly(2005).Buy-out of EDF Renouvelables(formerly EDF nergies Nouvelles).Acquisition of British Energy.19461963199019992004200520112009Structural changes in the EDF groupDevelopment in FranceInternational development*EPIC:Public Industrial and Commerci
68、al Establishment.1.2.2Group history1.www.edf.fr12EDF|Universal Registration Document2023The Group,its strategy and activities1.Group presentation2012201420162017Indirect sale of 49.9%of RTE to Caisse desDpts and CNP Assurances and capital increase of approximately 4bn.Acquisition by EDF of Dalkias a
69、ctivities in France.Acquisition of 75.5%ofFramatome capital.Takeover of Edison.Signature of final contracts for Hinkley Point C EPR construction project in the UK.Launch of the Solar Plan.2018Commissioning of the 1st EPR of Taishan.Ramp-up in offshore wind power2019France multi-year energy programme
70、(PPE):project published on 25 January 2019.Launch of“excell”,an excellence plan for the nuclear industry.Success of the first fourth 10-year inspection of 900MW fleet(Tricastin1).Commissioning of Taishan Unit2.Commissioning of the Sinop hydropower plant in Brazil.EDF adopts a raison dtre in its arti
71、cles ofassociation.Commissioning of the new Romanche-Gavet hydroelectric plant.20202023Acquisition of the entire EDFs share capital by the French State following the squeeze-out of shares and OCEANE.2022Commissioning of the first offshore wind farm inFrance in Saint-Nazaire.Launch of the HydrogenPla
72、n.EDF|Universal Registration Document 202313The Group,its strategy and activitiesGroup presentation1.2.3Significant eventsSignificant increase of 41.4TWh in nuclear generation in France in a context of historically high pricesCOMPLETION OF THE SIMPLIFIED PUBLIC TENDER OFFERFollowing the simplified p
73、ublic tender offer initiated by theFrench State for the equity securities,the squeeze-out of theshares and OCEANEs issued by EDF took place on 8 June 2023.The French State now holds all of EDFs share capital andvoting rights.NUCLEAR46 reactors were online in France at the beginning of January2024,re
74、presenting 50GW.15 of the 16 reactors most sensitive to stress corrosion wererepaired by end-2023 and the last one will be repaired withduring its 10-year inspection starting in February 2024.Inaddition,the 2023 programme of checks on welds repairedduring reactor construction has been completed.The
75、estimates of nuclear output in France are confirmedat 315-345TWh for 2024 and 335-365TWh for 2025and 2026(1).NUCLEAR NEW BUILDFlamanville3:successful completion of the tests to requalifythe entire installation with a view to the fuel loading,which willbe carried out after obtaining the decision of t
76、he FrenchNuclear Safety Authority authorising the commissioning(2).Hinkley Point C:new schedule for the start of power generation by Unit1based on three scenarios:a project organisation for 2029,abase case in 2030,and an unfavourable scenario in 2031(3);revised completion cost:201531 to 34billion(th
77、eunfavourable scenario would entail an additional cost of20151billion);impairment of Hinkley Point C assets and EDF Energygoodwill for a total of 12.9billion(4);since end-2023,construction work is financed by theshareholders on a voluntary basis and EDF is currentlyfinancing all costs.Sizewell C:fur
78、ther preparatory work on the project.EPR2:applications have been filed for approval to build the firstpair of EPR2 reactors on the Penly site and the Bugey sitechosen to host two future EPR2 reactors,after the choice ofPenly and Gravelines.EPR1200:EDF has been shortlisted to continue the tenderproce
79、ss for the construction of 1 to 4 EPR1200 reactors in theCzech Republic.Nuward SMR(5):joint early review to develop a standardiseddesign with an extended group of European nuclear safetyauthorities.RENEWABLESThe 14%increase in wind and solar generation to 28.1TWh waslargely due to new installed capa
80、cities including Al Dhafra(2.1GW in the United Arab Emirates,one of the most powerfulsolar power plants in the world),and Serra do Serid(phase1,480MW in total,in Brazil,the largest wind power farm in SouthAmerica),to reach 15.1GW net.The portfolio of wind and solarpower projects also increased by 15
81、%to 98GW gross.Inauguration of the Lazer floating solar power plant(20MWp)on the Lazer hydro power plant reservoir in France,allowing thecombination of photovoltaic and hydroelectric powergeneration at a single site(6).EDF,in partnership,won the tender for the 1GW MancheNormandie offshore wind power
82、 project in France(7).HYDROPOWER The 6.3TWh increase in hydropower generation in France(8)to38.7TWh is explained by high availability rates and betterhydraulic conditions.Completion of the impoundment of the Nachtigal dam inCameroon(420MW).Selection of EDF as a consortium member for the developmento
83、f the Mphanda Nkuwa dam in Mozambique(1.5GW)(9).THERMALEDF continues to decarbonise its thermal power generationwith the conversion to liquid biomass of the Port Est fuel oilpower plant(212MW),making EDFs power generation onReunion Island100%renewable(10).Permanent closure of EDFs last coal-fired po
84、wer plant in theUnited Kingdom,West Burton A,on 31 March 2023.Edison:inauguration of the 780MW Marghera Levante CCGT(Combined cycle gas turbine).It reduces the CO2 emissions by30%compared to the average for italian thermal fleet and hasthe technological ability to run on up to 50%hydrogen.Successful
85、 trial of a bioliquid on the Brennilis combustionturbine in the summer of 2023.(1)Nuclear generation estimate for the fleet currently in operation.(2)See section 1.4.1.1.3.1“Flamanville3EPRproject”.(3)See EDFs press release of 23 January 2024“Hinkley Point C Update”.Previous schedule for Unit1:June
86、2027 and former cost:201525-26 billion(see EDFs press release of 19 May 2022“Hinkley PointC Update”).(4)See note10.8 of the appendix to the consolidated financial statements for the financial year ended on 31 December 2023.(5)SMR:Small Modular Reactor.(6)See EDFs press release of 20 June 2023“EDF Gr
87、oup opens its first floating solar power plant on the Lazer hydro power plant reservoir in the French Alps”.(7)See the press release of 27 March 2023“EDF Renewables and Maple Power awarded the fourth offshore wind tender launched by the French State,securing a one-gigawatt project off the coast of N
88、ormandy,France.(8)Hydropower generation excluding island activity before deduction of pumping consumption.The total cumulative hydropower generation net of pumping consumption represented 33.0TWh in 2023(25.0TWh in 2022).(9)See the press release of 13 December 2023“The consortium of EDF-TotalEnergie
89、s-Sumitomo Corporation entered into joint development agreement with the Government of Mozambique for the 1,500MW Mphanda Nkuwa hydropower project.(10)See EDFs press release of 4 December 2023“After the conversion of the Port Est plant to liquid biomass,EDFs power generating fleet in Reunion Island
90、reaches 100%of renewable energy”.1.www.edf.fr14EDF|Universal Registration Document2023The Group,its strategy and activities1.Group presentationCUSTOMERSNew commercial policy:in order to give its customers moreprice visibility and be more competitive,the Group is rolling outa new business policy invo
91、lving 4 and 5 year ahead auctions onthe wholesale market,and medium-term power supplycontracts.The Group is also developing long-term industrialpartnerships relating to the historic nuclear fleet(nucleargeneration allocation contracts).Decarbonisation uses:the 12.4million tonnes of CO2 emissionsavoi
92、ded by its customers in 2023 reflect the work done by EDFto encourage greater energy sufficency and electrification ofuses.The number of heat pumps installed was up by 30%,andinstallations of solar panels on rooftops and car park canopieswere up by 60%.In electric mobility,the number of chargingstat
93、ions rolled out or managed by EDF rose by 21%.1.5%growth in the customer portfolio in the G4(1)countries,comprising France,Italy,Belgium and the United Kingdom,byend-2023.Strategic partnership to reduce the CO2 emissions of La Postesreal estate assets by 35%by 2030(Dalkia,EDF ENR,IZIVIA andUrbanomy)
94、(2).Dalkia:inauguration of a low-carbon geothermal heat networkin the Paris region,powered 77%by renewable energies,avoiding 11,000tonnes of CO2 emissions per year.NETWORKSDeveloping networks to meet the challenges of the energytransition:Connections of renewable energy facilities by Enedis increase
95、dby around 120%and the number of electric vehicle chargingpoints rose by 80%.Investments by Enedis,EDF SEI(3)and lectricit deStrasbourgwere up by 11%,essentially due to the higher number ofconnections related to the energy transition.Electricity supply was restored in 5 days for 95%of customersafter
96、 the storm Ciarn.EDF SEI has crossed the milestone of one million digital metersinstalled at end-2023.Enedis recognised first major company of the energy sector tobecome an entreprise mission in June 2023(4).FLEXIBILITYDeveloping flexibility solutions to meet the needs of the electricitysystem via:p
97、umped-storage hydropower plants(PSHP)(5),like the Hattaplant in the United Arab Emirates(250MWh to 1,500MWh ofstorage)under an engineering contract or the Vouglans Saut-Mortier plant in France(87MW);significant gross of 0.8GW in the portfolio of storage projectssecured(to 1.7GW at end-2023);battery
98、projects(as in the United Kingdom for 173MW and inSouth Africa for 257MW);substantial 33%increase in electric vehicule smart chargingpoints operated,mainly by Izi Smart Charge,depending onnetwork constraints.ENVIRONMENTAL,SOCIAL AND GOVERNANCE COMMITMENTSThe worlds number one investor and producer o
99、f low-carbonelectricity(6),available on demand and at any time,whichaccounted for 434TWh in 2023,i.e.93%of its power output.EDF has one of the lowest carbon intensities in the world,at37gCO2/kWh,down by 26%from 2022.Definition of new objectives to reduce CO2 emissions,aiming toreach net zero emissio
100、ns by 2050:a reduction in its Scope1 emissions compared to 2017 of60%in 2025,70%by 2030 and 80%by 2035;a carbon intensity of 30gCO2/kWh by 2030 and 22gCO2/kWhby 2035.Based on Moodys assessment(7)the Groups CO2 emissionsreduction trajectory is in line with a warming scenario of+1.5C.FINANCINGImplemen
101、tation of the 2023 financing programme:issues ofapproximately 8billion of senior bonds on various marketsand$1.5billion of hybrid bonds.Conversion,by the French State,in equity of all OCEANEsmaturing in 2024,amounting to 2.4billion,contributing to thestrengthening of equity securities.Confirmation o
102、f the credit ratings with stable outlook by thethree agencies S&P,Moodys and Fitch(8).EDF successfully launched its first green bond issue dedicatedto the financing of investments in the existing nuclear fleet foran amount of 1billion(9).(1)40.9 million customers per delivery point in France,Italy,B
103、elgium and the United Kingdom.One customer may have two points of delivery.(2)See the press release of 12 December 2023“La Poste and EDF groups join forces to accelerate the energy transition of La Postes real estate assets”.(3)SEI:Systmes nergtiques Insulaires(Island Energy Systems).(4)See Enedis p
104、ress release of 26 June 2023“Enedis becomes the first major company with a mission in the energy sector”.(5)PSHP:Pumped-storage hydropower plants(Station de transfert dnergie par pompage STEP).(6)Source:Enerdata,Power Plant Tracker in 2022.(7)See“Net Zero Assessment”assessment report.(8)Stability of
105、 the financial rating after the addition of an additional notch linked to government support and the downgrade by one notch of the standalone rating.(9)See EDFs press release of 28 November 2023“EDF announces the success of its first senior green bond issue dedicated to the financing of the existing
106、 nuclear fleet,for a nominal of 1billioneuros”.EDF|Universal Registration Document 202315The Group,its strategy and activitiesGroup strategy and objectives1.3Group strategy and objectives1.3.1Environment and strategic challengesEnergy efficiency and low-carbon electricity areat the core of the energ
107、y transitionThe fight against climate change is the challenge of our generation.While current policies projections would lead to a warming of+2.4C in 2100(1),it is now recognised that to limit this warming to1.5C and uphold the Paris Agreements,it is essential to achieveglobal carbon neutrality by 2
108、050.In Europe,the“Green Deal”developed in2020 and the“Fitfor55”climate package proposed by the European Commission provide theframework of measures enabling the European Union to achievecarbon neutrality by2050.Recovery programmes in the wake of theCovid-19 health crisis have made climate issues an
109、even higherpriority.Similarly,the“REPowerEU”programme announced in2022by the European Commission to address disruptions in the globalenergy market caused by the war in Ukraine adds the challenges ofresilience,sovereignty and maintaining the competitiveness of thisenergy transition.The related nation
110、al programmes focus onreducing CO2 emissions as a priority,and as competitively aspossible,drawing on a locally-rooted industrial vision.In France,electricity accounts for just over 12%of CO2 emissions(2)(39%(2)at a global level).Frances Climate and Energy Law of8November2019 places the reduction of
111、 greenhouse gas emissionsat the heart of French energy policy.The goal is now“to becomecarbon-neutral by2050 by cutting greenhouse gas emissions morethan sixfold”.Frances multi-year energy programme(Programmationpluriannuelle de lnergie,PPE),which lists the broad outlines ofFrench energy policy,sets
112、 out a 10-year vision,which is vital formajor industrial players.To achieve these objectives,the major levers of action are:lowering energy consumption by developing energy efficiencysolutions and incentivising energy sobriety;andshifting from fossil fuels to low-carbon energies,prioritisinglow-carb
113、on electricity and renewable heat.The transition to a carbon-free economy should also preservehouseholds purchasing power and the competitiveness ofcompanies,whilst ensuring secure energy supplies and energysovereignty.Innovation,both upstream and downstream,will be an essentialfactor for successful
114、ly achieving these goals.1.3.2Strategic priorities EDFs raison dtre is“To build a net zero energy future withelectricity and innovative solutions and services,to help save theplanet and drive well-being and economic development”.It wasincluded in the Companys articles of association at the end of th
115、eGeneral Shareholders Meeting of 7May 2020 and is part of theGroups strategy.Today,EDF is the worlds leading producer of low-carbonelectricity(3).For each kWh produced,EDF emits six times less CO2than the average amount for European utilities(251 gCO2/kWh(4)andhas set itself even more ambitious emis
116、sion reduction targets:in2030,EDF will have reduced its direct emissions by 70%comparedto 2017;in 2035,the reduction in its direct emissions will be 80%.The carbon intensity of the electricity produced by the Group will be30 gCO2/kWh in 2030 and will drop to 22 gCO2/kWh in 2035.EDF isalso committed
117、to reducing its indirect emissions by 28%in 2030compared to 2019.The global context validates the role of low-carbon electricity and supports EDFs strategyThe EDF group,as a responsible operator and supplier,is assumingits role as a major player in the ecological transition and energysovereignty.Fro
118、m the construction and operation of nuclear,hydro,solar,wind and thermal power plants,to the development andoperation of electrical networks,to the marketing and support ofcustomers to achieve energy savings,the Group is present in everylink of the value chain in France and abroad.EDF stands alongsi
119、deits customers to promote decarbonisation through energy efficiencyand the electrification of uses,from industrial processes tomobility,as well as in tertiary and residential buildings.To supply its customers,EDF is responding to the growing demandfor low-carbon electricity by accelerating the deve
120、lopment of itslow-carbon means of generation.In France,EDF is continuing tooperate the existing nuclear fleet under the best possible conditionsof safety and performance and working on the conditions forlaunching the construction programme of 6 EPR2,with a potentialexpansion to 14 EPR2.Recognised fo
121、r this know-how,EDF iscommitted to the development of nuclear projects beyond France(Hinkley Point C construction and Sizewell C project in the UnitedKingdom,submission of a bid for the Dukovany site in the CzechRepublic,the Jaitapur site in India,etc.).EDF is pursuingdevelopments in hydropower and
122、accelerating the development ofrenewable energies.In combination with increasing customer connections and new uses,the development of renewables is a major challenge for electricitynetworks:as a responsible operator,EDF group develops andstrengthens distribution networks to guarantee their long-term
123、resilience and performance.As it continues to become increasinglyunstable and volatile,the electricity system will need to be moreflexible:EDF is committed to mobilising a range of solutions to meetthese needs,in order to adapt consumption and production in amore dynamic and responsive manner.(1)Sou
124、rce:International Energy Agency-World Energy Outlook(Global Energy Outlook)2023.(2)Source:Ministry of the Energy Transition,Key climate figures,2023edition,page 35.(3)Source:Enerdata,World ranking of zero direct CO2 emissions power producers(2022,TWh),https:/power-producers- data,EU-27,European Envi
125、ronment Agency,Greenhouse gas emission intensity of electricity generation in Europe,October 2023.1.www.edf.fr16EDF|Universal Registration Document2023The Group,its strategy and activities1.Group strategy and objectivesThe Groups international impact creates value and contributes to Frances successT
126、he Groups core development scope in Europe is the“G4”,comprising France,Italy,Belgium and the United Kingdom.In thesecountries,EDF is present as a key player in electricity generation,aswell as having a significant customer portfolio in each country.Building on its strong local roots,EDF is developi
127、ng a range of supplyoffers and solutions and services to achieve the decarbonisation ofits customers in a manner best suited to local energy policy choices.In the rest of the world,outside of the“G4”,the Group mainlydevelops through business models without exclusive control of theasset,with an indus
128、trial role enabling it to capitalise on the Groupsexperience.EDF will look for growth drivers by engaging in profitableprojects in growing markets,exporting its recognised expertise tocountries seeking practical solutions for a successful energytransition.EDF can thus compare best practices with lea
129、dingpartners in competitive markets,while also developing newindustrial skills and accelerating its ability to innovate,from both atechnological and contractual standpoint.At the Group level,project risks are thus diversified.A new(post-ARENH)market modelAt a press conference held on 14 November 202
130、3,Bruno Le Maire,Agns Pannier-Runacher and Luc Rmont announced that they hadreached an agreement between the French State and EDF,layingthe foundations for the new organisation of the French market thatwill succeed the Regulated Access to Nuclear Electricity(Accsrgul llectricit nuclaire historique A
131、RENH)system as of 1January 2026.These guidelines would be intended to be included in a bill to bepresented in 2024.The new market organisation aims to develop medium and long-term products in order to offer consumers a wider choice ofcontracts allowing them to protect themselves from short-termprice
132、 volatility and to encourage investments in low-carbonproduction.As part of its new commercial policy,EDF sells annual“ribbons”with maturities of 4 to 5 years at auction,enabling EDF and allelectricity suppliers to offer contracts that provide visibility andstability to customers over these time hor
133、izons.In this context,EDFnow offers its customers medium-term retail supply offers of up tofive years.In addition,EDF offers certain electricity-intensive customers long-term industrial partnership contracts,with a minimum period of10years,backed by the historical nuclear fleet(nuclear generationall
134、ocation contracts).In order to provide additional protection to customers in the eventof high prices,the public consultation document on the draftprotection system for electricity consumers,dated 23 November2023,provides in particular for the payment by EDF of acontribution comprising a share of the
135、 net annual energy revenuesof nuclear power plants when they exceed a certain level.Morespecifically,the proposed system would be based on twothresholds from which contributions on the revenues of the nuclearfleet are to be made:a first activation threshold assessed at thedate of the consultation at
136、 202278/MWh,and a second threshold setat 2022110/MWh,giving rise to two contribution rates of 50%and90%(1)respectively.Supporting our customers to reduce their carbon footprintIndividuals,companies and local authorities are increasingly strivingto change the way they light,heat,produce,consume,trave
137、l,etc.Everyone wants to be an actor in their own energy transition.Thismomentum,which is an aggregate of individual initiatives and publicdecisions,is gradually increasing everywhere.In response,EDF is providing accessible and innovative solutionsthat enable customers to consume less and better:by r
138、educing their carbon footprint through the electrification ofuses in the sectors that produce the most CO2:in transport:To support the widespread deployment of electrification in mobility,EDF launched the electric mobility plan in 2018 in the G4countries,aiming to be the leading electricity supplier
139、 to the electricvehicle owners segment,having deployed 340,000charging stationsat the end of 2023 to remove technological barriers by enhancingthe storage capacities of electric vehicles(smart charging).In theheavy mobility sector,EDF is committed to the production andmarketing of electrolytic hydro
140、gen and its derivatives.EDF holdsleading positions in the electric mobility sector(France and theUnited Kingdom).in buildings:The Group is very involved alongside professionals in the sector,landlords and local authorities.The aim is to help them in improvingthe energy efficiency of buildings and mo
141、ve towards thedecarbonisation of their uses.It offers a range of services,frommonitoring and managing consumption to direct support fordecarbonisation operations,such as the electrification of heatingwith heat pumps,which enable both energy savings anddecarbonisation,or home renovation offers.EDF al
142、so directlysupports households(2)with IZI by EDF and its subsidiary IZI Confort.Lastly,through its subsidiary Dalkia,the Group is activelydeveloping heating and cooling networks to promotedecarbonisation(with the use of renewable energy sources andenergy recovery),while also developing Energy Perfor
143、manceContracts(Contrats de performance nergtique-CPE)for publicbuildings,companies,and residential complexes.(1)In accordance with the public consultation document on the draft protection mechanism for electricity consumers dated 23November 2023.(2)They can choose a heat pump to replace their highly
144、 CO2 emitting boiler,whether oil or gas-fired.EDF|Universal Registration Document 2023172035Industrial and human challenges for all of the Groups business lines,in France and internationally.Generatingmore low carbon electricity with nuclear and renewablesSupporting our customers to reduce their car
145、bon footprintDeveloping networks to meet the challenges of the energy transition*Developingflexibility solutions to meet the needs of the electricity systemCustomer proximity 34.3 million electricity customers 6.6 million gas customers(1)Leading brands:EDF,Edison,Luminus,Dalkia 198.2 million visits
146、on digital consumption monitoring platforms(2)A human ambition 179,550 employees(3)80.6%of employees took part in a skills development initiative during the year(3)An ambitious innovative ecosystem 1,799 R&D employees(4)Consolidated R&D budget of 706 million in 2023(3)747 innovations patented by R&D
147、(EDF&Enedis)at the end of 2023Major industrial assets 117.3 GW of electricity generation capacity(5)An integrated nuclear industry EPR technology A portfolio of wind and solarprojects of circa 98 GW gross(6)1.4 million km of distribution networks(7)42.6 million smart meters installed(3)330 heating a
148、nd cooling networks operated by Dalkia A strong CSR commitment A-rating by Climate Change&Water Security 4th in the WBA Climate and Energy Benchmark ranking 25.3 billion of green&sustainable funding(1)Consolidated scope.Counted per site.(2)EDF SA scope excluding French overseas departments and Corsi
149、ca.(3)Group scope.(4)EDF SA.(5)Consolidated data at Group scope.(6)Group scope.Pipeline excluding capacity under construction.All the projects in prospection phase included in the pipeline,starting 2020.(7)Enedis distribution network under concession.*In France,the public distribution network is man
150、aged independently by Enedis.Modle daffairesAssets and resourcesBusiness modelThe Raison dtre of EDFTo build a net zero energy future with electricity and innovative solutions and services,to help save the planet and drive wellbeing and economic development.2035Industrial and human challenges for al
151、l of the Groups business lines,in France and internationally.Generatingmore low carbon electricity with nuclear and renewablesSupporting our customers to reduce their carbon footprintDeveloping networks to meet the challenges of the energy transition*Developingflexibility solutions to meet the needs
152、 of the electricity systemCustomer proximity 34.3 million electricity customers 6.6 million gas customers(1)Leading brands:EDF,Edison,Luminus,Dalkia 198.2 million visits on digital consumption monitoring platforms(2)A human ambition 179,550 employees(3)80.6%of employees took part in a skills develop
153、ment initiative during the year(3)An ambitious innovative ecosystem 1,799 R&D employees(4)Consolidated R&D budget of 706 million in 2023(3)747 innovations patented by R&D(EDF&Enedis)at the end of 2023Major industrial assets 117.3 GW of electricity generation capacity(5)An integrated nuclear industry
154、 EPR technology A portfolio of wind and solarprojects of circa 98 GW gross(6)1.4 million km of distribution networks(7)42.6 million smart meters installed(3)330 heating and cooling networks operated by Dalkia A strong CSR commitment A-rating by Climate Change&Water Security 4th in the WBA Climate an
155、d Energy Benchmark ranking 25.3 billion of green&sustainable funding(1)Consolidated scope.Counted per site.(2)EDF SA scope excluding French overseas departments and Corsica.(3)Group scope.(4)EDF SA.(5)Consolidated data at Group scope.(6)Group scope.Pipeline excluding capacity under construction.All
156、the projects in prospection phase included in the pipeline,starting 2020.(7)Enedis distribution network under concession.*In France,the public distribution network is managed independently by Enedis.The Group,its strategy and activitiesGroup strategy and objectivesin industry:The EDF group develops
157、solutions to electrify industrial processes,recover waste heat and produce renewable heating through itssubsidiary Dalkia,and produce decarbonised electrolytic hydrogen.It leverages the expertise of its R&D for its industrial customers tosupport them in the evolution of their production facilities(e
158、lectricfurnaces and boilers,etc.).It also offers(via its subsidiary AgregioSolutions)the valorisation of flexibilities in the electricity systemand green supply offers.The aim of these solutions is for EDF to avoid the emission of over30 million tonnes of CO2 by2030(1)among its customers:by helping
159、its residential customers,businesses,and localauthorities to play a more substantial role in their energyconsumption(through self-consumption,digital consumptionmanagement solutions);by encouraging,in addition,its customers to consume with moresobriety by sharing advice on virtuous daily habits(the
160、eco-gestures),such as lowering the heating to 19C,by invitingcustomers who are able to do so to shift consumptions awayfrom peak hours for the electricity system or by providing themwith tools to understand their consumption(“EDF&Moi”app).These messages were highlighted in a widespread advertisingca
161、mpaign launched in October2022 by EDF called“I lower,I turnoff,I shift”.EDF is enhancing the value of its customer portfolio in“G4”countries(France,the United Kingdom,Belgium and Italy).To do soit relies on its top-notch customer relations and a broad range ofservice offers and solutions,particularl
162、y in sustainable energyperformance for the residential or business markets.Innovation is an essential component of the road ahead to helpcustomers in their transition,given the speed at which technologiesare advancing today,from renewables to storage,including electricvehicles,hydrogen and digital d
163、evelopment.Building on its own R&D efforts and its innovation ecosystemdeveloped with its partners,the EDF group selects thoseinnovations that have the potential to accelerate the energytransition,while supporting the French industrial fabric as much aspossible.Lastly,the energy transition will only
164、 be achieved if it is fair,inclusive and profitable.The EDF group supports its customers byhelping them to use energy more efficiently.EDF pays particularattention to the most vulnerable customers and implementsactions to fight against energy poverty(see section3.3.4“Energypoverty and social innovat
165、ion”).Generating more low-carbon electricity with nuclear and renewablesBecause in France 96%of electricity generated by EDF isdecarbonised thanks to nuclear and renewable energies,EDF playsa leading role in achieving a carbon neutrality goal by2050.Itsactions aim to accelerate the development of re
166、newable energies inaddition to its nuclear fleet,for which it guarantees safety,performance and competitiveness.There will be no single solution to guarantee low-carbon electricity,but a set of technologies:nuclear,hydropower,solar,onshore andoffshore wind power,low-carbon thermal means of generatio
167、n.This very low-carbon production ambition is partly based onthe performance of the nuclear sector,by guaranteeingindustrial control,safety,competitiveness,environmentalprotection and optimisation of the operation of nuclear fleetsin France and the United Kingdom.In addition,EDF iscontinuing to impl
168、ement an innovative fuel cycle strategy.EDFs nuclear generation fleet is the only one of its kind in theworld.The Grand Carnage programme for the existing fleet inFrance is a major industrial challenge.The related investmentsshould enable the power plants to remain in operation beyond40years,guarant
169、eeing nuclear safety,performance,andenvironmental protection.EDFs ambition is to return to the bestlevels of operational generation performance for the existing fleet,and to be able to produce 360 to 400TWh of nuclear electricity inFrance in the long term.Studies are underway to continue operatingth
170、e existing fleet beyond 60years under the best safety conditions,while taking into account feedback from international experiencewith reactors of the same design as those of the French fleet.Thesestudies will be supplemented by in-depth technical studies,whichwill be submitted to the French Nuclear
171、Safety Authority(ASN)before the end of 2025.Nuclear power operation does not emit CO2(2);it provides baselineproduction whilst offering strong leverage in terms of managementand flexibility to adjust to electricity consumption.As such,it is anessential asset for a decarbonised electricity mix by2050
172、.With this in mind,EDF is building the Hinkley PointC reactors in theUnited Kingdom and completing the Flamanville3 reactor in France.Two EPR reactors are in operation at Taishan in China,in which EDFholds a stake,and one at Olkiluoto in Finland.In France,following the President of the Republics ann
173、ouncementsin February2022 in Belfort regarding the launch of the constructionprogramme for six nuclear reactors in France,EDF,alongside thenuclear industry,is preparing for the implementation of thisambitious and essential programme and conducting studies foreight additional EPR2 reactors.The consul
174、tation and dialogue phasewith stakeholders is ongoing.The public debate on the project for aninitial pair of EPR2 reactors at the Penly site in Normandy was heldfrom 27 October 2022 to 27 February 2023.This presented anopportunity to provide information about and discuss this projectand gave rise to
175、 a report by the Special Commission for PublicDebate(Commission particulire du dbat public,CPDP)and areview by the Chairwoman of the National Commission for PublicDebate(Commission nationale du dbat public,CNDP),both ofwhich were made public on 26April2023.In December2023,EDFcontacted the CNDP regar
176、ding its plan to build a second pair ofEPR2-type nuclear power reactors on the Gravelines site.In itsdecision of 10 January 2024,the CNDP decided that it wasnecessary to organise a public debate.The Group is developing the Nuward project,pioneering the firstSmall Modular Reactor(SMR)in France and ai
177、ms to startconstruction in 2030.EDF reached an agreement with the British government to continueto develop the Sizewell C nuclear power plant project.The Britishgovernment announced on 22 January 2024 to increase itsinvestment to around 2.5 billion and became the majorityshareholder of the project s
178、ince the end of 2023,alongside EDF.Atthe same time,a fundraising campaign was launched for the project,aiming to provide additional private capital at the time of the finalinvestment decision(3).EDFs final investment decision remainssubject,in particular,to its ability to raise the necessary financi
179、ng tocomplete the project and the deconsolidation of the project fromthe Groups balance sheet.EDF is also preparing for site conversions related to the shutdownsof end-of-life power plants.EDF,via Cyclife,continues to developits activities in the decommissioning of nuclear generation assetsand is de
180、veloping a circular economy through recycling anddismantling.(1)Calculation of emissions avoided by the following products/services,sold by EDF,Dalkia,Luminus,EDF UK and Edison:development of renewable energy in heating networks;energy efficiency;solar power production(installations sold to customer
181、s and self-consumption,excluding EDF installations injecting their production into the network);electric mobility;residential heat pumps.This indicator corresponds to the difference between the emissions of the product/service sold and the emissions of a reference scenario set for each product/servi
182、ce.The figures should increase in the coming years,subject to possible changes in methodology in order to remain in line with third-party practices.Regarding the methodology associated with this indicator,see section3.6“Methodology”.(2)No direct emissions and LCA(life cycle analysis)emissions which
183、can be estimated at 4 gCO2/kWh.(3)Sizewell C equity raise process GOV.UK(www.gov.uk);Further steps to prepare Sizewell C for construction GOV.UK(www.gov.uk).1.www.edf.fr18EDF|Universal Registration Document2023The Group,its strategy and activities1.Group strategy and objectivesThe EDF groups aim of
184、achieving very low-carbon productionis also embodied in the accelerated profitable development ofrenewable energies in France and abroad.The EDF group is developing renewable electric energies in alltechnologies(hydropower,solar,onshore wind power,offshore windpower,etc.).They already represent more
185、 than a quarter of theGroups total capacity(1).Today,the EDF group is a major player inrenewable energies and aims to continue its development,with theobjective of achieving 100GW of installed gross renewable energycapacity(including hydropower)by 2030.The EDF group is seeking to diversify the diffe
186、rent technologies(onshore and offshore wind power,solar power,and hydropower),as well as their geographical distribution.EDF regularly invests inhydropower facilities in order to combine economic,energy andenvironmental performance,and offers solutions to strengthenhydropower generation.Developing n
187、etworks to meet the challenges of the energy transitionThe role of networks in the energy transition is key.Due to thesustained increase in electricity demand and the growing share ofrenewable energies in the electricity system,network operatorsmust achieve their ambitious targets for developing the
188、 connectionsdriven by the Multi-Year Energy Programme(PPE)in France.Networks must adapt to the increasing variability of electricitysystems and therefore be able to absorb massive injections ofintermittent energies(solar,wind),which requires managing thenetworks differently in terms of both injectio
189、n and withdrawal.Within the EDF group,the distribution network activities in Franceare carried out through Enedis and Strasbourg lectricit Rseaux,two bodies that operate the electricity distribution networkindependently from EDF,and through SEI.Internationally,itssubsidiary EDF International Network
190、 exports the Groups know-how and skills in the field of networks.To succeed in the energy transition in their respective regions,thesenetwork operators must transform the networks they operate inorder to(i)achieve the exponential trajectory of connectionsproposed by the PPE to meet the demand of pro
191、ducers(wind farms,solar power plants,solar panels on roofs,stationary storage or theequivalent)and consumers(IRVE Electric vehicule charginginfrastructure,self-consumption);(ii)accelerate their digitaltransition in network operation to strengthen predictivemaintenance and rapid repair;and(iii)renew
192、and strengthenexisting networks to meet growing electricity needs.As the share of electricity in the French energy mix becomesmajority by 2050,the networks must be even more resilient tohazards in order to guarantee access to electricity.In addition,smart meters rolled out by network operators enabl
193、e electricitymanagers to support their customers in better understanding theirneeds and responding to suppliers requests relating to their actionsto promote greater energy sobriety.In France,Enedis(2)puts at the heart of its concerns the issue ofnetwork reliability and ensures that electricity is 99
194、.9%available inFrance(3).Maintaining this level of availability by 2035/2040 is aconsiderable challenge,both on an industrial and on a human level.Developing flexibility solutions to meet the needs of the electricity systemThe management of the electricity system requires increasedflexibility in ord
195、er to cope with the variations caused by intermittentenergies over all time horizons.In response to these growing needs for balance,EDF is developing arange of solutions to meet these requirements over different timehorizons.These flexibilities will take multiple forms,both upstream for example,with
196、 the continued development of hydropower(lakes and pumped storage hydropower plants),the ability tomodulate future nuclear reactors(EPR),batteries,low-carbonthermal power plants(thanks to bioenergy,and potentially carboncapture and storage)and downstream,with the development ofdemand response or the
197、 mobilisation of smart charging of electricvehicles(V1G,V2G).Thus,the Storage plan,launched in 2018,aimsto develop over 10GW of gross storage capacity within the Group by2035.A wholly-owned EDF subsidiary,Agregio Solutions is one of theFrench leaders in the aggregation of decentralised energy resour
198、ces.To compensate for variability in renewable energy production,Agregio Solutions is developing a range of electrical flexibilityproducts to manage certain types of consumption or to storeelectricity in batteries.In 2026,Agregio Solutions aims to have acontractual portfolio of more than 12GW.By 203
199、5,the Group aims to reach 2GW in decarbonised thermalcapacity in its regions,and to operate at least one combined cyclegas turbine power plant(CCGT)equipped with CO2 capture andstorage(CCS)technology.In France,EDF stands out through its ability to offer 24/7decarbonised electricity and provides its
200、customers with 96%decarbonised electricity in mainland France.The EDF group invest massively in the energy transitionIn 2023,nearly 95%of the Groups investments are made in line withits carbon neutrality trajectory(94%in 2022)(4).The Group continues to regularly review its asset portfolio toproceed
201、with disposal of non-strategic assets,where appropriateand if conditions are favourable.Considering the reduction in netfinancial debt observed for the fiscal year ended December 31,2023,the Group no longer provides a quantified objective for its disposalplan.(1)33.9GW at the end of 2023 out of a to
202、tal of 117.3GW in consolidated data.(2)Operator of the electricity distribution network,managed independently of EDF.(3)https:/www.enedis.fr/nouvelle-france-electrique-horizon-2027-et-2032-enedis-publie-le-document-preliminaire-un-futur.(4)See section 6.1,note 20.4 Carbon-free investments of the app
203、endix to the consolidated financial statements for the financial year ended on 31 December 2023 and also see section 3.7.4 European taxonomy.EDF|Universal Registration Document 202319The Group,its strategy and activitiesGroup strategy and objectives1.3.2.1Strategic priorities backed by 5plansThe Gro
204、ups priorities are backed by the following 5plans and a strategic work programme(1),in line with EDFs raison dtre and businessmodel:Through the Solar Plan,which was launched in 2017,the EDF group aims to become the leader in photovoltaic solar power in France with 30%of new capacity built(2)between
205、2020 and2035.Through the Storage Plan,launched in2018,the EDF group plans to develop 10GW of new storage facilities worldwide by2035,increasing the Groups storage capacity to 15GW by that time.The EDF group is aiming to develop a portfolio of 1million off-grid kits by 2030.Storage is a key factor in
206、 stabilising network frequency,encouraging the inclusion of renewable energies,and managing microgrids in non-interconnected areas.It will be developed by using hydro pumped energy transfer stations and batteries.With the Electric Mobility Plan,launched in October2018,the EDF group aims to be a lead
207、er in the supply of electricity for electric vehicles in its four largest European markets(France,the United Kingdom,Italy and Belgium).At the end of2023,nearly 340,000 charging points had been deployed.Lastly,for its own fleet of light vehicles,EDF is rolling out the EV100(3)programme and gradually
208、 converting its thermal vehicles to electric vehicles with a target of 100%by2030.2023 was the year of the consolidation of the excell plan launched in spring 2020 to enable the French nuclear industry to restore the most stringent standards and the highest levels of quality and excellence to be at
209、the forefront of major nuclear projects.In the new context of nuclear recovery,the challenge of this plan is to enable nuclear power,a low-carbon energy,to continue to fully play its role in the fight against global warming.In 2023,the 30 commitments of the excell plan were finalised and anchored in
210、 operational practices,thanks to the commitment of EDF and all companies in the French nuclear sector(4).See also section1.4.1.1.1“The excell plan”.Through the Hydrogen Plan,launched in April2022(5),EDF aims to secure a leading position in Europe in the generation of100%low-carbon hydrogen,using low
211、-carbon electricity from the grid,nuclear or renewable sources.EDFs ambition is to contribute to the decarbonisation of industry and heavy transport(including the maritime and aviation sectors via e-fuels).1.3.2.2Group transformationSince its creation,the EDF group has consistently overcome thechall
212、enges it has faced.The climate emergency and the need todevelop electricity for the decarbonisation of uses are a new keychallenge for society and the Group.EDF plays a leading role inachieving a carbon neutrality objective by 2050.It must bothimplement a sustainable business model to finance its in
213、vestments,attract necessary skills for the energy transition and both amplifyand accelerate the transformation of its operating methods.The Group can rely on solid assets:the robust and continuouscommitment of its teams,serving the EDFs raison dtre and thegeneral interest,recognised expertise in all
214、 business lines,andshared values of mutual aid and support for employees.Thetransformation initiatives undertaken in recent years have alsogenerated real progress,particularly in terms of empowering teamsand encouraging innovation.To to go faster,and further,the Group is amplifying thetransformation
215、 of its operating methods in several areas:collective efficiency to respond to the multiplication andacceleration of projects;cross-functionality between the Businesses to act together onthe electricity system with a uniform vision;increased development of a customer-centric performanceculture to re
216、spond to the new business model in which theGroup will operate;adopting the most effective practices and standards to meetthe challenge of recruiting people with key skills.A co-construction process has begun within the Group,aiming todefine the“mindset”that unites the teams to meet the challengesof
217、 tomorrow and be the generation that drives the transition.Thismindset is based on three priorities,upon which all teams will becalled to mobilise:EDF is a single team,collaborating enthusiastically in service ofits customers;EDF is reinventing itself,leveraging diversityand learning fromothers;EDF
218、meets the expected results,as it knows how to simplify,prioritise and make decisions at the appropriate level.Without delay,several transformation projects have been launchedas part of the development of a new company project,in line withthis“mindset”.1.Operational excellence projectsFour operationa
219、l excellence projects were launched in January2023to“build success for EDF”to further the industrial and humanproject.They support and integrate the plans already launched(excell,START 2025,etc.).“Industrialise and accelerate digital technology”project:thisproject aims to propel the Group into a smo
220、oth and integratedoperation,creating value,with a common language and tools,andmore accessible and shared data.“Metal time”project:this project aims to enhance operationalperformance,increase the attractiveness of business lines forbetter service to its customers,and to restore the Groups financiall
221、eeway to allow it to carry out the necessary investments.“Skills”project:the objective of this project is to meet theconsiderable skills required by the energy transition and the Groupsprojects.(1)The strategic work programme is broken down into around 20 projects,steered at the level of the Executi
222、ve Committee.(2)Market shares expressed in gross installed capacity.(3)EV100 is a global initiative born in New York during Climate Week NYC in September2017.It aims to bring together major groups committed to the development ofelectric mobility and its generalisation by 2030.(4)See EDFs press relea
223、se of 15November2022“The excell plan presents its annual results and outlook for the sustainability of its standards”.(5)See EDFs press release of 13April 2022“The EDF group launches a new industrial plan to produce 100%low-carbon hydrogen”.1.www.edf.fr20EDF|Universal Registration Document2023The Gr
224、oup,its strategy and activities1.Description of the Groups activities“Measuring and Managing Operational Performance”project:this project aims to strengthen the management and monitoring ofthe Groups performance by increasing operational efficiency inorder to generate greater cash flow and ensure th
225、e Groups financialsustainability.2.Changes in the organisation of the Nuclear business linesThe Group must address unprecedented challenges in nuclearprojects.To meet new requirements and be at the forefront ofinvestment projects in new reactors and the continued operation ofthe existing fleet,the t
226、ransformation of nuclear activities wouldinvolve organising activities in a more industrial manner,in order to:strengthen and professionalise these business lines by poolingskills;increase and accelerate production rates;support standardisation and operational efficiency objectives;operate in a cros
227、s-functional manner for internal and externalcustomers.The project is currently being discussed as part of the Groups socialdialogue process.3.Transformation of the cross-functional sectorsWork has been undertaken with the 5 main sectors supportingbusiness and operations(Human Resources,Communicatio
228、n,DigitalServices,Finance and the General Secretary)by integrating morematrix-based operating principles.1.4Description of the Groups activities1.4.1Electricity generation activitiesAgainst a backdrop in which there will be more electricity usages,the Group has one of the largest power generationfle
229、ets in the world,with some of the lowest CO2 emissions,thanks to the share of nuclear and renewable energy in itsenergy mix.The Group aims to continue the development of renewable energies in France and around the world.It isalso preparing for the nuclear generation of the future with the EPR and th
230、e development of SMRs(Small ModularReactors).467.6TWh117.3GW37.7GW93%electricity generationworldwide consolidated installed capacitynet renewable capacitylow-carbon production*Direct carbon emissions related to generation,excluding life cycle analysis of means of generation and fuel.The assets of th
231、e generation fleetThe Groups generation fleet has significant strengths:a variety of means of generation,which enable adequatecoverage of EDFs downstream portfolio needs(end users,sales to alternative suppliers,sales on the wholesalemarkets,etc.).The use of the different components of theassets is m
232、anaged by placing the priority at any time on theresources offering the lowest variable costs;a standardised nuclear fleet of 56reactors in France(1)and ninereactors in operation in the United Kingdom;the construction of EPR-type reactors worldwide;the control of the entire life cycle of nuclear gen
233、eration resources:design,operation,and decommissioning;the implementation of actions aimed at improving the technicalperformance of power plants and extending operating lifespan;a fleet generating at 93%without CO2 emissions(2)due to thepredominance of nuclear and hydropower generation facilities;a
234、geographical position at the junction of electricity exchangesbetween the continental platform and the electric peninsulas(Italy,Spain and the United Kingdom).Composition and specifications of the EDF fleetin mainland FranceWith a total installed capacity of 86.5GW in mainland France(3)at31December2
235、023,the EDF fleet produced 365.9TWh(4)in mainlandFrance in 2023.At 31 December 2023,the capacity of EDFsgeneration fleet was mainly composed of:56 nuclear units operating from pressurised water reactors(PWR).Their power generation capacity ranges from 900MW to1,450MW,with an average age of 38 years.
236、Also seesection1.4.1.1.2“Nuclear power generation in France”;19 thermal units in operation.See section 1.4.1.2“Thermalgeneration in mailand France”;425hydropower plants,with an average age of 78years(5).Seesection1.4.1.3.1“Hydropower generation in France”;other hydropower plants owned by the Groups
237、subsidiaries:S,SHEMA Group,CERGA and RKI(on the Rhine,owned 50%-50%with German energy company EnBW)and the Franco-Swiss entities of Chatelt and mosson.(1)After the permanent shutdown of the two Fessenheim units.(2)Direct carbon emissions related to generation,excluding life cycle analysis of generat
238、ion plants and fuel.(3)EDF excluding Corsica and French overseas departments.(4)Including pumped storage hydropower.(5)Arithmetic mean.EDF|Universal Registration Document 202321The Group,its strategy and activitiesDescription of the Groups activitiesEDF installed capacity and output in mainland Fran
239、ce 20231.4.1.1Nuclear power generation1.4.1.1.1The excell planThe“excell”plan,launched in the spring of2020,aims at enablingthe French nuclear industry to restore to a high standards of rigour,quality and excellence,so as to take on existing and future majorprojects in France,the United Kingdom,and
240、elsewhere in the world.The excell plan also benefits the operating nuclear fleetprogrammes,especially Grand Carnage and related maintenanceoperations.The commitments that were not fully finalised at the end of2022were finalised in2023,which put an end to the deployment ofactions under the excell pla
241、n.Committed momentum is now therule for all nuclear players within EDF and the nuclear industry;this continues to bear fruit.Its impact on the results of nuclearprojects is monitored in a quarterly dashboard which ambitioustargets are all levers towards excellence.This dashboard alsomentions the res
242、ults achieved in the field of skills together withthe annual analysis conducted by the GIFEN(1)as part of theMATCH(2)project and the partnership between EDF and itssuppliers monitored by the nuclear sector barometer maintainedby the GIFEN.All commitments are available at https:/www.edf.fr/plan-excel
243、l(3).An overview of the plan is available for 2023.The results obtainedshow progress in each of the five aspects of the plan reflects theresults obtained:Governance in nuclear projectsThe primary milestones for nuclear projects have been identified.For each milestone,three key elements that determin
244、e whether themilestone has been achieved have been defined.The monitoringteam in charge of large projects,composed of some high-levelexperts in the various skills,has been set up.It provides a head-upview of the projects progress and can also provide assistance toprojects experiencing issues.At the
245、same time,project managementfor the new EPR2 nuclear reactor programme was put in place(seealso section1.4.1.1.3.2).SkillsThe deployment of the GIFEN MATCH project now provides acomprehensive overview of recruitment and training needs in thevarious industrial sectors,which is updated annually,and ab
246、usiness-by-business analysis.This overview,which is based onactivity forecasts of nuclear operators and data regarding theresources available to manufacturers in this sector,enables todetermine actions to be rolled out in terms of attractiveness,training and recruitment.The Universit des Mtiers du N
247、uclaire,founded in early 2021,oversees all actions intended to meet these needs in skilled,trainedand experienced personnel.Bringing together national and regionalplayers in this field,the Universit des Mtiers du Nuclaire is thereal driver for skills improvement in the sector.Manufacturing and assem
248、blyAmong the numerous actions that have been carried out,twomajor changes should be noted:a new strategy to monitor the manufacturing of products,so asto achieve convergence between,on the one hand,the smoothoperation of the manufacturing cycle and,on the other hand,quality issues and associated reg
249、ulatory requirements;a common practice in other industries:the development ofqualifications for industrial processes,so as to re-secureproduct quality and reduce the need for monitoring.Lastly,EDF decided to embark on ISO19443 certification for its ownentities concerned by nuclear safety issues,and
250、for companiescarrying out manufacturing or other activities involving such issues.120 companies in the sector are ISO19443 certified,with a further80 companies in the process of obtaining certification.Supplier relationshipsThe quality of the relationships between EDF and its suppliers iscentral to
251、the success of work on the operating fleet and for newprojects.In consultation with companies in the sector,thecontractual provisions have been reviewed based on a strategyfocused on shared success in future projects.An annualbarometer gathers suppliers perception data and makes itpossible to assess
252、 progress and identify areas in whichimprovement is still necessary.The“suppliers platform”nowmakes it possible to have a cross-functional view of industrialissues and to develop a strategy that aims to streamline thesuppliers panel and implement end-to-end performancemanagement for the main supplie
253、rs.Regular performancereviews and a supplier development approach to supportmanufacturers in their progress towards excellence are the mainlevers.(1)GIFEN:French Nuclear Energy Industry Group.(2)MATCH:project led by GIFEN for maintaining the load-resource balance within the nuclear sector.(3)See als
254、o section3.4.3.2.1“The excell plan:being present in major nuclear power projects”.1.www.edf.fr22EDF|Universal Registration Document202386,467MW 365.9TWhNuclear61,370MWWind6MWNuclear320.4TWh87.6%71%Wind0.001TWhHydropower(1)20,146MW23%Thermal(2)4,945MW6%Hydropower(1)(2)38.7TWh10.6%Thermal(3)6.7TWh1.8%
255、Expressed in megawatts of maximum capacity linked to the network.(1)Excluding Corsica and overseas departments,i.e.439MW in 2023,including sea energy:240MW.(2)Excluding Corsica and overseas departments,i.e.1,310MW in 2023.(1)Excluding Corsica and overseas departments,i.e.1.4TWh in 2023.(2)Generation
256、 including pumped storage consumption.(3)Excluding Corsica and overseas departments,i.e.4.9TWh in 2023.NB:figures are rounded.Installed capacityElectricity outputThe Group,its strategy and activities1.Description of the Groups activitiesStandardisationStandardisation and replication are key words in
257、 the context ofEDFs nuclear engineering ambitions today.The technicalguidelines have been simplified and digitised so they can bedirectly integrated into the design tools.This continues today bymaking sure technical requirements are strictly based on needs.Mandatory use catalogues(catalogues dusage
258、obligatoire,definedas CADO)have been established to alleviate the heterogeneity ofboth equipment and suppliers.This major change increases thesize of the series to be manufactured and promotes investmentin process automation and skills,guaranteeing continuous qualityimprovement.Replication ensures b
259、oth the use of tried andtested equipment and the reduction of risks.In the field of welding,the Haute cole de formation soudage,arecently created welding school based in Cherbourg(Hefas),keepsgrowing and will achieve its definitive structure in the first half of2024.Accreditation of welders and the
260、improved quality of controlsand the planning of welding works were developed jointly by EDFand its industry contractors with a view to“welding right the firsttime”.These practices have shown their effectiveness in“stress-corrosion cracking”correcting operations.1.4.1.1.2Nuclear power generation inFr
261、anceThe electricity generated by EDF in France from its fleet of nuclearpower plants represented 87.6%of its total electricity generationin2023(1).1.4.1.1.2.1EDFs nuclear fleet in France and its operationEDFs PWR fleet in operation is divided into three series of availablepower generation capacity.T
262、he French nuclear fleet consists of56 units in operation,located on 18 sites(2)owned by EDF.Itrepresented a total authorised power of 61,370MW at 31December2023.With an average age of around 38years old,it is within theaverage range of nuclear fleets installed worldwide.SeriesNumberof unitsin operat
263、ionTotal capacityAverage age900MW3229,010MW411,300MW2026,370MW35N4 1,450MW45,990MW23TOTAL5661,370MW38(1)Including pumped storage hydropower.(2)After the permanent shutdown in2020 of the two 900MW Fessenheim units.EDF|Universal Registration Document 202323CattenomChoozPenlyNogent-sur-SeineBelleville-
264、sur-LoireGolfechSaint-AlbanPaluelCivauxFlamanvilleChinonBlayaisTricastinCruasBugeySaint-LaurentDampierreGravelines900MW1,300MW1,450MWEPRThe Group,its strategy and activitiesDescription of the Groups activitiesThe commissioning and most recent 10-year inspection(VD)dates for these units as of end-202
265、3 are as follows:UnitsYear ofindustrialcommissioningMost recent10-yearinspectionNext10-yearinspectionUnitsYear ofindustrialcommissioningMost recent10-yearinspectionNext10-yearinspectionBugey219792021VD5Gravelines619852018VD4Bugey319792013VD4 in progressCruas419852016VD4Bugey419792021VD5ChinonB319872
266、020VD4Bugey519802021VD5ChinonB419882020VD4Dampierre119802021VD5Paluel119852016VD4Gravelines119802021VD5Paluel219852018VD4Gravelines219802013VD4 in progressPaluel319862017VD4Tricastin119802019VD5Paluel419862019VD4Tricastin219802021VD5Saint-Alban119862017VD4Dampierre219812022VD5Flamanville119862018VD4
267、Dampierre319812013VD4 in progressSaint-Alban219872018VD4Dampierre419812014VD4Flamanville219872020VD4Tricastin319812022VD5Cattenom119872016VD4Tricastin419812014VD4Cattenom219882018VD4Gravelines319812022VD5Nogent119882019VD4Gravelines419812014VD4Belleville119882021VD4Blayais119812022VD5Belleville21989
268、2019VD4Blayais219832013VD4 in progressNogent219892020VD4Blayais319832015VD4Penly119902021VD4Blayais419832015VD4Cattenom319912021VD4Saint-Laurent119832015VD4Golfech119912012VD3 in progressSaint-Laurent219832023VD5Cattenom419922013VD3ChinonB119842013VD4 in progressPenly219922014VD3Cruas119842015VD4Gol
269、fech219942014VD3ChinonB219842016VD4ChoozB120002020VD3Cruas219842018VD4ChoozB220002019VD3Cruas319842014VD4Civaux120022021VD3Gravelines519852017VD4Civaux220022022VD3At end-2023:in the 900MW series,12 reactors out of 32 completed theirfourth 10-year inspections(including Blayais 1 and Saint-Laurent B2
270、in 2023).Five VD4s are under construction(Blayais2,Bugey 3,Chinon B1,Dampierre 3,Gravelines 2);in the 1,300MWseries,16 reactors out of 20 completed theirthird 10-year inspection(including Penly 1 in 2023).One VD3is under construction(Golfech 1);in series N4,the four reactors have completed their sec
271、ond10-year inspections(including Civaux 1 and Civaux 2 in 2023).Regulatory noticeRegulations applicable to Basic nuclear installation(BNI)After completion of a procedure set out in the French Environmental Code,the construction of a basic nuclear installation(Installation nuclaire de base,INB)is aut
272、horised by a decree issued by the French Prime Minister after consulting the FrenchNuclear Safety Authority(Autorit de sret nuclaire,ASN)and on the basis of a report produced by the French Minister forNuclear Safety.The authorisation to commission a BNI is issued by the ASN,also on completion of a p
273、rocedure set out in theFrench Environmental Code.The general regulations applicable to basic nuclear installations give priority to the protection ofpublic safety,health and sanitation and the protection of nature and the environment(known as“protected interests”).Law No.2023-491 of 22June2023 amend
274、ed certain provisions of the French Environmental Code in order to accelerate proceduresrelated to the construction of new nuclear installations near existing nuclear sites and the operation of existing facilities.In a letter dated 26 March 2024,the ASN reminded EDF of its expectations regarding the
275、 prevention and detection ofcounterfeiting,falsification,and fraud in the factories manufacturing equipment for nuclear power plants.This letter follows thehearing of EDFs CEO by the ASN board on 26 February 2024,and the submission by EDF on 19 March 2024,of a detailed actionplan considered as an ap
276、propriate initial step(1).(1)https:/www.asn.fr/l-asn-informe/actualites/contrefacons-falsifications-et-suspicions-de-fraude-l-asn-rappelle-ses-exigences-a-edf1.www.edf.fr24EDF|Universal Registration Document2023The Group,its strategy and activities1.Description of the Groups activitiesGeneration all
277、ocation contractsIn the 1970-80s,EDF developed an industrial cooperation withEuropean operators in the nuclear field,in the form of generationallocation contracts backed by units of the EDF French nuclearfleet.The principle of generation allocation contracts involves assigning ashare of the capacity
278、 of the units in question to co-contractingparties in exchange for payment of the same share of the unitsoverheads(construction costs,annual operating costs,decommissioning costs,local and specific nuclear taxes,etc.);theseparties are sold the same share of the power generated by theseunits at the v
279、ariable cost of the fuel(including upstream anddownstream fuel costs)throughout their lifetime.As at 31December2023,EDF has within its fleet 10nuclear unitsparticipating in the contracts(up to 1GW)with the followingEuropean energy companies:Cattenom1-2:EnBW(5%);Bugey2-3:lectricit de Laufenbourg(1)(1
280、7.5%);Tricastin1 to 4:Electrabel(2)(12.5%);ChoozB1-B2:Luminus,EDF subsidiary in Belgium(3.3%).EDF has also entered into a second type of generation allocationcontract for a fleet of power plants(totalling some 2GW).While thecontract term and the contribution to overheads remain linked toclearly iden
281、tified units within the fleet,the total amount of powersold at the variable cost of the fuel is determined by the availabilityof a broader baseline fleet of power plants,applied to the share ofcapacity assigned to the co-contracting parties for the units inquestion.These contracts mainly concern the
282、 following powerplants:ChoozB1-B2(initial series unit N4):Electrabel(21.7%);Cattenom3-4:lectricit de Laufenbourg(7.8%)and the Swisselectricity group CNP(21.8%).In these two types of contracts,the contracting parties advised EDFof the industrial risks during the development of the fleet.Theyaccept th
283、e risks relating to the current operation of the powerplants.On the other hand,they have no operational role.Operation of the nuclear fleetNuclear energy is a means of production with a low variable cost,which is primarily related to fuel.It represents less than 30%ofoperating costs(3).The main comp
284、etitive levers of the nuclear fleet inits operating phase are thus the amount of generated energy andthe optimisation of fixed operating and maintenance costs.Thelevers relating to the fuel cycle are described in section1.4.1.1.2.3.Generation cycle and planned outagesEDF must reconcile the challenge
285、s linked to the strong variations inseasonal consumption in France,due to its strong temperaturesensitivity,and the availability of maintenance resources togetherwith an efficient use of reactor fuel.Therefore,EDF has adopted12and18 month generation cycles for its fleet,which broke down asfollows at
286、 end-2023:SeriesNumber of unitsGenerationcycle time900MW28Approx.12months900MW41,300MW20Approx.18 months1,450MW(N4)4Reactor shutdowns occur at the end of these production cycles,making it possible to replace a fraction of the fuel loaded in the coreand to perform maintenance work.Two types of planne
287、d outagesare alternated at the end of each generation cycle:shutdown for simple refilling(ASR)for a standard duration ofapproximately 40days.The main operation performed is theunloading of the spent fuel and the reloading of the new fuel.Some maintenance operations or periodic testing may also takep
288、lace during this type of outage;the partial inspection(VP),with a normative duration(4)ofaround 85days,dedicated to refuelling and maintenance.The power plant is shut down every 10 years for a 10-yearinspection(5)(VD).This lasts around 180 days(6)on average.Itsduration varies according to the works
289、and maintenanceprogramme,as well as the series concerned.The programme for a 10-year inspection includes the following:unloading of spent fuel and reloading of fresh fuel,as at eachoutage;hydropower test of the primary circuit,a leak test of thecontainment,and inspection work of the reactors pressur
290、evessel;modification work,associated with 10-year safety periodicreview;other specific maintenance operations,in particular renovationor replacement of major components.At the end of each 10-year inspection,it is up to ASN to give itsapproval to restart the reactor for the next cycle and to adopt ap
291、osition on continued operation for another 10 years,at which timeit may also issue technical recommendations.Regulatory noticeNuclear safety authorityThe French Nuclear Safety Authority(Autorit de sretnuclaire,ASN)is an independent administrative authoritywhich contributes to the control of nuclear
292、safety,radiationprotection in France,and informing the public about thesematters.Its activity is organised around the following missions:contributing to drawing up legislation,by issuing its opinionto the French government on draft decrees and ministerialorders,and making regulatory rulings of a tec
293、hnical nature;examining all individual authorisation applications for Basicnuclear installations-BNI-(Installations nuclaires de base).Itgrants authorisations except for major BNI authorisations,suchas for construction and decommissioning;inspecting installations,which it carries out throughregulato
294、ry scheduled and unannounced on-siteinspections,in particular during regular compliance checks.These are mandatory for a power plant to continueoperating;informing the public about the status of nuclear safety andradiation protection in France;in the event of an emergency,the ASN oversees theoperati
295、ons to secure the installation carried out by theoperator.It informs the public of the situation and assiststhe Government.In particular,it provides the competentauthorities with recommendations on the measures to betaken in respect of civil security.(1)Axpo Group.(2)Engie Group.(3)Operational costs
296、 are defined as follows:fuel costs(including downstream expenses in the fuel cycle),operating expenses(purchases and external services,employee expenses)and maintenance costs(expenses and investments).They do not include investments related to construction or decommissioning expenses.(4)Standard dur
297、ations represent optimised and realistic benchmark durations by outage types.They take into account the feedback from past.The planned duration of shutdowns varies around these reference periods depending on the work programme to be carried out.(5)Pursuant to Article593-18 of the French Environment
298、Code.(6)“Normal”duration excluding special and/or extreme cases.EDF|Universal Registration Document 202325The Group,its strategy and activitiesDescription of the Groups activitiesOperation of EDFs nuclear fleetOwing to their low variable cost,nuclear generation facilities areprimarily used as base-l
299、oad generation.They are used just afterrun-of-river hydropower and other intermittent renewable energies,as well as energy purchased under purchase obligations fromdecentralised electricity producers.Variations in energyconsumption over one year(summer-winter,day-night)and thecurrently restricted fl
300、uidity of wholesale markets due to limitedinterconnections on the borders lead nuclear energy to be used alsofor mid-merit generation.High variations in seasonal consumptionin France and its major variation during winter months require thatplanned nuclear fleet outages be concentrated between April
301、andOctober.Generation in2023Nuclear generation reached 320.4TWh in 2023,up 41.4TWhfrom2022(279.0TWh).This increase is due to better availability ofthe nuclear fleet,mainly due to better control of the treatment ofphenomenom of stress corrosion,as well as an improvement in thecontrol of shutdowns for
302、 maintenance.Following the discovery ofstress corrosion phenomenom at the end of 2021,severalunexpected shutdowns and extended shutdowns for maintenancewere necessary in 2022 to understand the issue and implement atreatment strategy.In 2023,stress corrosion treatment entered anindustrial dimension:t
303、he improvement of control processes,as wellas feedback from repair work,made it possible to optimiseschedules and reduce reactor downtime.It should be noted that the impact of a nationwide social movementagainst the pension reform in March and April 2023 delayed reactormaintenance and restart operat
304、ions.2023technical performanceDespite the progress made,stress corrosion cracking continues toimpact nuclear generation in 2023,although this has decreasedfrom 2022,largely due to the industrialisation of the work.Among the completed shutdowns,the following were on scheduleor shorter than forecast:N
305、ogent 2(VP),Cattenom 2(VP),Cattenom 1(intermediateshutdown),Belleville 2(intermediate shutdown)and Golfech 2(ASR).Shutdowns for series 1,300 P4,which included thepreventive replacement of RIS cold branch lines as part of thestress corrosion treatment strategy and benefited from siteoptimisations res
306、ulting from feedback;Blayais 3(ASR),Tricastin 2(VP),Tricastin 1(VP),not concernedby the stress corrosion file.Notable in particular was the performance of Tricastin 1,VP pilotpower plant for Lot B post-VD4 operations,completed 29 daysahead of its estimated duration.Launched in 2021,the START 2025 tr
307、ansformation programmefocused on regaining industrial control of unit shutdowns,continuesto bear fruit:the extension of unit shutdowns was reduced by anaverage of 13.7days compared to 2022.In particular,this involvescontrolling reactor shutdown and restart operations.For example,while the reactor un
308、loading operation began on schedule for only2%of outages in2021,compliance with the schedule increased to40%in 2022 and to 64%in 2023.Among the reactors that experienced significant overruns of theirprojected duration(50 days)are primarily the first reactors thatwere affected by stress corrosion:Civ
309、aux 1(VD),Civaux 2(VD),Chooz 1(VP),Chooz 2(VP),Cattenom 1(VP),Flamanville(ASR-RGV),Golfech 1(VD),Penly 1(VP)and Penly 2(VP).Facilities not contendingwith the stress corrosion issue:Blayais 1(VD),Cruas 1(VP),Gravelines 1(VP)and Saint-Alban 1(VP).These are shutdowns atsites with a particularly large i
310、ndustrial programme(Gravelines,Cruas)or that were impacted by major technical hazards and thesocial movement at the beginning of the year(Blayais,Cruas,Saint-Alban).Nuclear generation expressed in annual energy is based on ageneration rate for the French nuclear fleet as a whole.This isdefined as th
311、e ratio of energy generated to the maximum theoreticalenergy(the energy generated if the installed capacity wereoperated year-round).This is also known as the load factor(“Kp”).This rate is obtained by multiplying two coefficients(Kp=KdKu):the availability factor(“Kd”)(available energy(1)in comparis
312、on tomaximum theoretical energy.The latter concept correspondsto year-round operation of the installed capacity).The Kddepends on outage durations,and is therefore impacted bystandard durations and the work programme to be performed;the utilisation factor,(“Ku”)(energy generated compared toenergy av
313、ailable).The Ku factor reflects environmental,regulatory and social constraints,supply of system services andoptimisation carried out by EDF(fuel and modulation).In 2023,the Kp factor reached 59.6%,up 7.7%from 2022(51.9%).This results from a Kd of67.3%,up 9.2%from 2022(58.1%)and a Kuof 88.6%,down 0.
314、7%from 2022(89.6%).Handling of stress corrosion detected on the auxiliary circuits ofa number of nuclear reactorsUpon performing the scheduled controls during the 10-yearinspection of the Civaux 1 reactor in late 2021,stress corrosioncracking was identified on parts of the pipework in the reactorsma
315、in primary circuits auxiliary circuits.EDF immediately carried outinspections and expert appraisals of the four series of reactorsmaking up the French nuclear fleet(900MW,1,300MW-P4,1,300MW-P4and N4).The examinations performed in 2022 made it possible to define aninitial characterisation of the stre
316、ss corrosion sensitivity of the56 reactors in the nuclear fleet:40 reactors were identified ashaving little or no sensitivity to stress corrosion.These included32 reactors from the 900MW series and 8 reactors from the1,300MW-P4 series.16reactors were identified as being vulnerableor highly vulnerabl
317、e to the phenomenon of stress corrosion:the 121,300MW-P4 series reactors and the 4 N4 series reactors.By theend of 2023,the preventive replacement of pipe sections had beencompleted for 15 of the reactors sensitive to stress corrosioncracking.The industrial programme for the preventive replacementof
318、 pipe sections planned for reactors sensitive to stress corrosionwill be completed in the first quarter of 2024.In 2023,more than 350 non-destructive tests were scheduled toconfirm the reactors sensitivity diagnosis,and to characterise a riskinherent to the welds that were repaired during the initia
319、lassembly(2)regardless of the reactors sensitivity.The plannedchecks were carried out in full and confirmed the reactorssensitivity classification and the specific risk related to the repairedwelds.The checks carried out on these units identified a few casesof suspected stress corrosion,which led to
320、 around 10additionalreplacement projects in 2023.In 2024,the reactor inspection programme will continue with ahigher volume of checks than in 2023.As in 2023,this could involvea decision to perform some additional repairs.The inspections willbe carried out during scheduled maintenance shutdowns;noad
321、ditional or dedicated shutdowns are planned.By the end of 2025,most of the auxiliary lines inspection programme will have beencompleted,in accordance with initial forecasts.It will have beensupplemented by checks on other lines(pressuriser expansion lines,main primary circuit,small-diameter lines).T
322、he risks relating to the phenomenon of stress corrosion aredescribed in section2.2.1 under risk 1B“Failure to comply with theobjectives in terms of operation and/or of extending the operatinglife of nuclear power plants(France and United Kingdom)”.(1)Available energy is equal to the maximum theoreti
323、cal energy less generation losses due to technical reasons inherent to power plants,such as planned outages,unplanned outages due to failure or safety requirements,and performance of regulatory tests.(2)See EDF prospectus of 17March 2023“Stress Corrosion”.1.www.edf.fr26EDF|Universal Registration Doc
324、ument2023The Group,its strategy and activities1.Description of the Groups activitiesIrradiation department in support of the CEAAt the request of the French State,EDF is studying the creation ofan irradiation department involving the two reactors at the Civauxnuclear power plant in support of the CE
325、A(Commissariat lnergieatomique-Atomic Energy Commission),which wants to haveredundant means to support its activities(1).1.4.1.1.2.2Environment,nuclear safety,radiation protectionThe risks related to the environment,nuclear safety and radiationprotection are described in section2.2.2 under risk 2C“N
326、uclearsafety violations during operations resulting in nuclear civil liability”.Environmental protectionEDFs environmental process was launched on a few sites in2002.Itwas then extended to all nuclear generation units.It is based on anISO14001-certified environmental management system(EMS).Seesectio
327、n 3.5.4.2“Environmental management system”.For adescription of radioactive waste processing downstream of the fuelcycle as well as decommissioning,see section1.4.1.1.2.3.A constant nuclear safety procedureEDF,in its capacity as a nuclear operator,takes responsibility fornuclear safety and,in a rapid
328、ly-changing context(marketcompetition,environmental issues,European connection,etc.),EDFreaffirms as its absolute priority the protection of the human andenvironmental health,among other things,through the preventionof accidents and the limiting of their consequences as regardsnuclear safety.The imp
329、lementation of the French nuclear powerprogramme led EDF to establish a safety procedure that:takes into account,from the design stage,the risks that mightarise during the operation of the power plants,whether relatingto the actual operation of the facilities or to internal orexternal attacks;is bas
330、ed both on the application of strict rules of operation,andon the cautious and inquiring attitude of the technical teamsthanks to the establishment of a true safety culture;is based on the cumulative experience of a standardised fleet;incorporates and promotes a continuous improvementapproach.In par
331、ticular,it is embodied by the constant missionto reduce the number of automatic reactor trips;benefits from integrated nuclear engineering and R&D withinthe Group in order to anticipate the occurrence of failures,maintain the facilities in good working order,developequipment on an ongoing basis,reas
332、sess safety margins andmonitor technology advances,as well as the implementation ofmore effective new technologies and the management of sitesbeing decommissioned;relies strongly on the development of skills.With this objectivein mind,each nuclear generation site is equipped with asimulator used for
333、 training to cope with any type of situation.Regulatory noticeNuclear transparencyArticlesL.125-10 et seq.of the French Environment Code includes specific provisions on the right to information regarding thenuclear industry aimed at guaranteeing the publics right to reliable,accessible information.In particular,the operator of a Basicnuclear installation(BNI)is required to declare any accidents an
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