Under the Euro Medium Term Note Programme ... - Finance - EDF

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Description of the Issuer Installed Capacity: 97,424MW (1)(6) Electricity Generated: 459.7TWh (5) Nuclear power 65% 91.6% Hydropower (2) (4) 20% 5.8% Thermal (3) 15% 2.6% (1) Expressed in MW of maximum power connected to the grid. (2) Excluding Corsica and the French overseas departments: 400 MW of installed capacity and 1.1 TWh generated in 2011. (3) Excluding Corsica and the French overseas departments: 1,482 MW in 2011 and 4.5 TWh in 2011(and including 2,075 MW of units under guaranteed multi-year shutdown). (4) Net production: the electricity consumption needed for the operation of pumped storage plants amounted to 6.9 TWh in 2011, resulting in a gross hydropower generation (net of pumped storage consumption) of 33.7 TWh. (5) These values correspond to the sum of the specific values, corrected to one decimal place. (6) This value also includes 12 MW of capacity of wind generation. Deregulated and regulated operations in France EDF’s deregulated activities in France (activities open to competition), include electricity generation and the sale of electricity and natural gas. EDF is implementing an integrated model for the joint operational management of its portfolio of assets upstream (generation and procurement of energy and fuels) and downstream (wholesale and retail) to guarantee supply to its customers through the best possible management of operational and market risks and with a view to maximising gross margin. In France, EDF’s regulated operations consist of the following: • transmission, managed by RTE Réseau Transport d'Electricité (RTE); • distribution, managed by ERDF; • EDF activities in Island Energy Systems (mainly Corsica, the French overseas departments and overseas municipalities of Saint Barthélemy, Saint Martin, and Saint Pierre-et- Miquelon.), which are managed by the Island Energy Systems Division (Systèmes Energétiques Insulaires, or “SEI”). The EDF Group's international activities The EDF Group is positioned as an energy leader, with a priority aim of investing for sustainable and profitable industrial growth, based on the development of skills and the promotion of our technical expertise. The EDF Group intends to continue to strengthen its international businesses as a complement to its activities in France. The international activities of the EDF Group are an operational expression of the EDF Group’s strategic directions; these strategies involve strengthening European positions, and the international rollout of nuclear activities and projects and other key projects. European Positions -112 -
Description of the Issuer The EDF Group has consolidated its European presence, the mature market that forms the foundation for its industrial presence. EDF Group activity in Europe is based upon a will to contribute to building a single market for both electricity and gas, encouraging the emergence of new technologies and innovative solutions that are customised to environmental, social and economic challenges, and lastly to respect natural and human resources, and the wishes of local stakeholder in their concerns over energy issues and associated services. The principal events of the year illustrating this strategy were: - In the UK: pursing studies and investments to diversify local generating facilities; - In Germany: the political authorities from the federated state of Baden-Württemberg, having made their request to give EnBW a strong regional shareholder to refocus the company’s business on Baden-Württemberg, the EDF Group accepted the state’s offer to buyback EDF International’s stake in EnBW, which was completed on 17 February 2011; - In Italy: on 26 December 2011, EDF, Edison, Delmi, A2A and Iren concluded a preliminary agreement concerning reorganising Edison’s and Edipower’s shareholder structures. This agreement of 24 January 2012 was approved by EDF’s Board of Directors and was finalised and signed by all the parties concerned on 15 February 2012 giving EDF exclusive control of Edison and thus reinforcing the EDF Group’s gas strategy and consolidating its position as pivotal player in Italy; - In Poland: the launch of the construction project for a 900 MW supercritical coal-fired power plant. The EDF Group’s ambitions in Europe The EDF Group aims to consolidate the coherent industrial group it has in Europe through organic growth and realising synergies at EDF Group level. It will review any new opportunity of profitable development in Europe, which is its core market. In addition, the EDF Group intends to continue building its gas positions that are necessary to its ambition of becoming an active provider in both the gas and electricity sectors in Europe in order to secure provision of a multi-energy offer for its customers and to ensure competitive supply of the EDF Group’s electricity generation means through the use of gas. The EDF Group is also realising operational synergies among its various entities in France and Europe through the following actions: - improving operational performance by sharing best practices observed within the EDF Group; - using the opportunity of the various subsidiaries’ generation assets construction projects in order to standardise the design and to group the orders placed with equipment manufacturers; coordinating gas supplies and investments in order to further the EDF Group’s ambitions in the gas market; -113 -
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€30,000,000,000 EURO MEDIUM TERM
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This Base Prospectus (together with
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amended, all references to "U.S.$",
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SUMMARY This summary (the "Summary"
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Summary Year Ended 31 December 2011
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Summary Currencies Status Negative
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Summary listed and admitted to trad
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Summary risk of a change of law Th
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Résumé intentée devant un tribun
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Résumé Permanents" désigne les
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Résumé Pledge) sera prévue. Cas
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Résumé l'émission indiqueront si
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Résumé ladite directive. les ris
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Risk Factors The Issuer may from ti
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Risk Factors withholding tax. If a
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Risk Factors any of the currencies
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Risk Factors Notes issued at a subs
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Risk Factors foreign exchange and o
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Risk Factors Risks associated with
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Risk Factors Risks associated with
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Risk Factors and critical infrastru
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Risk Factors Hydropower generation
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Risk Factors Increased competition
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Risk Factors Furthermore, available
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Risk Factors managed pension funds
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Risk Factors A serious nuclear acci
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Risk Factors modifications to all o
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Risk Factors A decision by the Fren
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Risk Factors materials and waste co
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Risk Factors In the field of nuclea
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Page 111: DESCRIPTION OF THE ISSUER Detailed
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Page 123 and 124: RECENT EVENTS 1. EDF's Credit Ratin
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Page 131 and 132: Recent Events • EDF joins the FTS
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Taxation For these purposes, the te
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Taxation In addition, interest and
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Subscription and Sale The Notes are
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Subscription and Sale The Republic
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Subscription and Sale Section 274 o
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GENERAL INFORMATION 1. Application
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General Information For so long as
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VISA OF THE AUTORITÉ DES MARCHÉS
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VISA DE L'AUTORITE DES MARCHES FINA
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LEGAL ADVISERS To the Issuer Hogan
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