EDFInternational Nuclear

Developments

Xavier Rouland

Consejero Delegado

EDF Peninsula Iberica

Worlwide nuclear revival

3

Nuclear civil world in figuresNuclear civil world in figures

� 443 nuclear reactors in operation

� 31 countries with at least 1 nuclear reactor

� 16% of the world’s electricity

� International Atomic Energy Agency : 146 member states

� Lifetime of a reactor : 50 years

� 34 nuclear reactors in construction

� About 40 countries with projects announced

4

2318 17 16

11 10 107 6 6 5 5 5 4 4 4 4 4 4 3

76

EDF

RosE

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EPCO

TEPCo

Exelo

nE.O

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ansa

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NC

Dom

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nergy

CG

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GW

Nuclear capacity per country (Gwe) (origin CEA)

Total in the World: 368 GWe99

63

48

22 20 1713 13 10 9 8 7 6 5

0

20

40

60

80

100

120

USAFr

anceJapa

nRussia

German

ySo

uth Korea

Ukraine

Can

ada

UK

SwedenChinaSp

ain

BelgiumTaiwan

5

Nuclear share % in electricity generation (IAEA 2007)

77

64

54

54

48

46

44

42

40

37

35

32

30

29

28

26

19

1917

16

1515

13

6

6

5

4

3

322

0 20 40 60 80 100

FranceLithuaniaSlovakiaBelgiumUkraineSwedenArmeniaSlovenia

SwitzerlandHungaryS. KoreaBulgaria

Czech RepFinlandJapan

Germany

USATaiwan

SpainRussia

UKCanada

RomaniaArgentina

South AfricaMexico

Netherlands

BrasilIndia

Pakistan

China

6

63

1,6

Poland*

Lithuania*

Roumania*

Bulgaria*

Czech Rep..*Slovakia*

Hungary*

1,3

Finland2,7 1,6

3,7

1,9

2,8

1,9

1,4

Turkey

Ukraine14

Russia

Belgium.

Eastern

Europe *13,8

22

Sweden

1,96

South Africa

USA100

35

Canada

12,6

1,38

Mexico

26?

Brazil

12

12

3

6,7 3,220

India

8,9

70

China

8Vietnam

47

3,6 18

6

Indonésia

South Korea17

5,4

Taïwan5

2,7

10,2

UK9

Germ..21

6

8Spain

France

10

3

22

Argentina

12,1

0,3

Pakistan

0,4

Netherland0,5

Slovenia

0,7

Switz.3,2

44

17

1,2

0,6

Thaïland

4

5

62

21,5

3

3

Algéria

Libya

Egypt

TunisiaUAE

24

102

1

Iran3

New Nuclear Build Worldwide : GWs under construction & announced for 2025 (Feb. 2009)

Japan

Existing 2008 Announced

Nuclear capacities (GW)

377 404

Being built

36

10

Italie

Morocco2

1

20

Further NNB announcements (GW): Armenia (1), Bangladesh (1), Belarus (2),Croatia/Albania (2), Estonia (1), Jordan (2,8), Kazakhstan (3), Philippines (0,6)

1

3,4

2,4

5,2

Niger

5

5

1,4

EDF experience in the nuclear

8

58 PWR reactors in operation, on 19 sites, 63 GW

Single technology: PWR (Pressurised Water

Reactor) with 3 standardized series :

- 900 MW: 34 units, 31 GW

- 1300 MW: 20 units, 26 GW

- 1500 MW (N4): 4 units, 6 GW

An experience of achitect engineer and operator

unique in the world

- 44 GW commissioned between 1980 and 1990

- average operation time: 22 years

- Experience feedback: ~ 1300 reactor years

One new plant in construction:

EPR at FLA3, to be commissioned in 2012

Decommissioning program: 9 reactors (6GGR,

HWGCR Brennilis, Creys Malville, Chooz A)

EDF Nuclear facilities in France

Nuclear production

→→→→ 418 TWh in 2008, availability 80%

≈ 77% of electricity generation in FranceFirst priority: The Safety of operating plants

Rythme de construction du parc nucléaire actuel d’EDF

0

10000

20000

30000

40000

50000

60000

70000

1975 1980 1985 1990 1995 2000

MW

900 MW

1300 MW

1400 MW

Rythme de construction du parc nucléaire actuel d’EDF

0

10000

20000

30000

40000

50000

60000

70000

1975 1980 1985 1990 1995 2000

MW

900 MW

1300 MW

1400 MW

9

French Nuclear Program

PWR 900 MW

PWR 1,300 MW

FBR 1,200 MW

PWR 1,500 MW (N4)

1 1 1 1 1 1 1 1 1 1 12

7

8

2 2 2

4

6 6

4 4

2 2

3

1966 70 75 80 85 90 95 2000

Gaz cooled reactor (All being decommissioned)

Average age : 22 years

44 GW built in 10 years4-5 units / year on average

PWR 1,650 MW (EPR)

10

Major EDF characteristic :

standardization benefits and anticipation

Benefits of standardization

• Quality and efficiency of construction and engineering studies, construction cost and schedule,

• Safety and experience feedback in operation, lessonslearned and anticipation,

•••• economics and optimization of resources for engineering, operation and maintenance

1300 reactor years of operation

Uranium resources and managment waste

12* Source NEA/IAEA 2008** Prognosticated and speculative resources

Uranium resources : diversity and security of supply

Identified resources

- Accounting for nearly a century of current

global consumption (60 000 t/yr)

- sufficient quantity to supply existing NPPs

and new built between now and 2030 in LWR

(U235 consumption => 0,7% natural

Uranium)

- widely distributed over the planet

- Higher price ==> exploration efforts

==> speculated resources 15 Mt

Long term sustainability

- GEN4 fast reactors ==> 50 times

more energy yield from natural

uranium

Potential Gen4

x 50

* Source NEA/IAEA 2008

** Prognosticated and speculative resources

Identified uranium resources: 5.5 Mt *

14% North America

5% Brazil

18% Africa

14% Russia Ukraine

17% Centra Asia

23% Australia

9% Others

Undiscovered resources**

250 years

Identified resources

100 years

13

•••• Management of Radioactive waste: 4 industrial principles- limiting production at the origin limiter,

- sorting out according to activity level and lifetime,

- conditionning under a stable package,

- isolating from man and environment

•••• Radioactive waste are produced in a limited quantity : 1 MWh gives raise to 11 g of radioactive waste of which 90 % short lived

•••• Low and intermediate short lived waste are disposed of and confined in a safe and

definitive way (volume 90%; activity < 1%) Sorted, Conditioned, Disposed of in two surface repositories operated by Andra (Aube centers)

•••• High level waste, long lived, are stored in a safe way, within vitrified canisters and

passive storage facility (1 ha for 40 years of french nuclear fleet production – La Hague), waiting for implementation in a geological disposal center under study by Andra (Bure)

The management of radioactive material and waste

Economic issues

15

- EDF as architect engineer (which bears project risk)

- Including effects of price index in the contracts and technical

and regulatory evolutions or contingencies

Total production cost for FLA 3: 54 Euros / MWh

for a 2nd EPR in France : 55 to 60 Euros / MWh

Estimated production cost

EPR in France

16

A long-term competitiveness in France

CO2at € 20/t

CO2at € 40/t

30

40

50

60

70

80

90

100

110

40 44 48 53 58 63 68 74 80 85 90 96 102

$/bl

Natural Gas price in oil price equivalent

Commissioning in 2015 – Baseload operations

EPR France € 55/MWh – € 60/MWh

€08/MWh

Comparison with the production costs of a combined gas cycle in France

17

CO2at € 20/t

CO2at € 40/t

30

40

50

60

70

80

90

100

110

48 54 60 66 72 78 84 90 96 102 108 114 120

$/t

€08/MWh

Coal price

EPR France € 55/MWh – € 60/MWh

Commissioning in 2015 – Baseload operations

A long-term competitiveness in France

Comparison with the production costs of a coal plant

18

Nuclear Generation Costvery safe and predictable structure

76%

7%

17%

41%

17%

42%

15%

26%

59%

0%

20%

40%

60%

80%

100%

Gas Coal Nuclear

Fuel O&M Capital

EDF strategy in the nuclear

20

Global EDF strategy in the productionGlobal EDF strategy in the production

� Necessity to prepare the future

� Very long term investments and assets

� Renew the fleet

� To have a diversified energy mix, we’re investing in

� Nuclear for the base demand

� Wind farms and Photovoltaique to balance the mix with renewable energies

� Gas or coal plants for the peaks

� To take advantage of the worldwide nuclear revival with our unique nuclear operator experience

21

EDF’s strengths in the nuclear revivalEDF’s strengths in the nuclear revival

� EDF, the global leader in nuclear power generation

� 20% of the worldwide capacity, 440 TWh* generated

� The lowest CO2 emissions of Europe

� Average CO2 emissions of EDF in France = 49 g/kWh (Europe = 400 g/kWh)

� Unique experience across the entire life cycle

� Experienced and safe operator

� Uninterrupted construction activity both in France and internationally, based on the architect-engineer model

� Involvement in the reliable and controlled technological advances of the EPR

� Experienced staff

� Decommissioning of first units under way

� …

* 2008 figures, consolidated with EnBW and British Energy

22

EDF, the global leader in nuclear power generationEDF, the global leader in nuclear power generation

2318 17 16

11 10 107 6 6 5 5 5 4 4 4 4 4 4 3

76

EDF

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GW

British Energy: 9.5 GW of total installed capacitySource: companies’ internet websites - EDF’s Document de Référence

23

CO2 Emission g/kwh in EU countries

49

59

82

224

274

297

325

356

381

414

466

473

499

524

592

777

EDF SA

Sweden

France

Austria

Belgium

Finland

Luxembourg

Denmark

Spain

Portugal

Netherlands

UK

Germany

Italy

Ireland

Greece

Europe: 400 gCO2/kwh

The lowest CO2 emission in EuropeThe lowest CO2 emission in Europe

24

Uninterrupted involment in nuclear constructionUninterrupted involment in nuclear construction

58 units built (EDF architect-engineer) & operated in France +Owner’s assistance for new nuclear build and completion/modernisation projects in the world

CPO, CP1, CP2, P4, P’4, N4 = French reactor series

71 6 PWR 9006 PWR 900 79

10 PWR 90010 PWR 90076 88

8 PWR 13008 PWR 130077 86

12 PWR 130012 PWR 130079 93

4 PWR 14504 PWR 145084 98

18 PWR 90018 PWR 90074 85

02Ling Ling AoAo 1&21&2

South Africa

97

11

KoebergKoeberg 1&21&2 85

Daya Daya BayBay 1&21&2 94

Ling Ling AoAo 3&43&405

China

China

China

78

87-88

MochovceMochovce 1&21&2 00 Slovakia

1970 1980 1990 2000 2010 2020

CP0

CP1

CP2

P4

P'4

N4

91

25

EPR, the most advanced of the 3rd generation reactorsEPR, the most advanced of the 3rd generation reactors

� Mature design

� Safety enhancement

� 4 units under construction (Olkiluoto 3, Flamanville 3, Taishan 1&2)

� Better environmental performances (30% reduction in fuel burnt,)

� …

26

EDF already involved in the World Nuclear RenaissanceEDF already involved in the World Nuclear Renaissance

China2 EPR in construction with CGNPC ; TNPC

JV 30% EDF

USAUnistar NuclearEnergy, JV 50%

with Constellation2 EPR in project

UKBritish Energyacquisition ; 4 EPR in project

ItalyItalian government

decision -> law of 23 July 2009

JV EDF-ENEL 31 July 2009 in charge of

developping ItalianEPR program

South Africa

FranceFlamanville EPR in construction

Penly EPR Project

27

UKEPR 4UKEPR 4

UKEPR 3UKEPR 3

EdF Group’s objective : develop, invest & operate a fleet of EPRs in the WorldEdF Group’s objective : develop, invest & operate a fleet of EPRs in the World

1980 1990 2000 2010 2020

EDF Track RecordThe Group’s ambition

Develop, invest and operate 10 EPR projects by 2020

TsnTsn 22

C EPR C EPR

TsnTsn 11

2009 2013/2014

US EPR 2US EPR 2

US EPRUS EPRCC3CC3

2011/122015/2016

2017/2022

2012/13/16/17 UKEPR 2UKEPR 2

UKUK

EPR 1EPR 1

RSA EPR 2RSA EPR 2

RSARSA

EPR 1EPR 1

Postponedtender

EPR EPR

Penly 3Penly 3

CPO, CP1, CP2, P4, P’4, N4 = French reactor series

71 6 PWR 9006 PWR 900 79

10 PWR 90010 PWR 90076 88

8 PWR 13008 PWR 130077 86

12 PWR 130012 PWR 130079 93

4 PWR 14504 PWR 145084 98

18 PWR 90018 PWR 90074 85

EPR EPR Fla 3Fla 3

2007

2012

02Ling Ling AoAo 1&21&2

South Africa

97

11

KoebergKoeberg 1&21&2 85

Daya Daya BayBay 1&21&2 94

Ling Ling AoAo 3&43&405

China

China

China

78

87-88

MochovceMochovce 1&21&2 00 Slovakia

CP0

CP1

CP2

P4

P'4

N4

91

2017

ITEPR 4ITEPR 4

ITEPR 3ITEPR 3

2020/26

2015/17/19/21 ITEPR 2ITEPR 2

ITITEPR 1EPR 1

2017/2022

28

EDF’s criteria to commit itself on New Nuclear Build abroadEDF’s criteria to commit itself on New Nuclear Build abroad

1. Countries choosing to develop nuclear programs

2. Countries where EDF is welcome

3. Countries with favorable conditions for investors in nuclear energy

� Comprehensive legal framework

� Effective regulatory system and procedures

� Long term policy & financing for management of nuclear materials and waste

� Financing of decommissioning/dismantling

� Public opinion

� Societal & environmental framework

4. Projects based on proven reactor designs

5. Local partners with good track record in building and operating electricity generation

6. Financial criteria meeting the Group’s financial targets and risk policy

Muchas gracias

30

Annexes

31

� United Kingdom

32

Licensing

Main steps for EPR projects in the UKMain steps for EPR projects in the UK

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Policy FrameworkUK Government’s decision on nuclear energy revival

Licensing Process Definition

Illustrative schedule for the first EPR

National Policy Statement

Planning

Decommissioning & Waste Management

Construction

Energy White Paper

Energy Review

Generic Design Assessment

Site Licensing

JustificationStrategic Siting Assessment (SSA) up to Site Nomination

SSA consultations and National Policy Statement

Planning bill approved by Parliament

Prepare and submit planning application

Planning approval granted

Energy bill approved by Parliament

Guidance

Prepare and submit plans

Approvals granted

Preparatory works

Construction

Electricity generated from new nuclear

33

Main EPR sites Main EPR sites

Wylfa

Sizewell

Bradwell

Hinkley Point

Red: owner = EDF

Black: owner = E.On-RWE

Wylfa

Sizewell

Bradwell

Hinkley Point

Red: owner = EDF

Black: owner = E.On-RWE

34

Acquisition of British Energy, key nuclear actor in the UK Acquisition of British Energy, key nuclear actor in the UK

� Leading electricity generator in the UK

� Leading nuclear operator in the UK : 8 NPPs, 9.5 GW, including 7 AGRs and 1 PWR

� A coal-fired power plant at Eggborough, with installed capacity of 2 GW

CapacityMW(3)

Decommissioning dateauthorised to date

Prototype AGR

Dungeness B 1 090 2018

Hinkley Point B 1 220 2016AGR 1

Hunterston B 1 215

Hartlepool 1 190 2014AGR 2

Heysham 1 1 160 2014

Heysham 2 1 230 2023AGR 3Torness 1 250 2023

REP Sizewell B 1 196 2035

Coal Eggborough 1 960 without Desulf. 2015with Desulf. 2021

Total 11 511

Torness

Hartlepool

Dungeness B

Hunterston B

Sizewell B

EggboroughHeysham 1 & 2

Hinkley Point B

CoalPWR(2) NuclearAGR

British Energygeneration sites

2016

35

� China

36

CGNPC* : a major Chinese nuclearplayer and longstanding partner for EDFCGNPC* : a major Chinese nuclearplayer and longstanding partner for EDF

� CGNPC, one of the two nuclear leadersin China, with 4 GW installed, and 21 GW under construction

� CGNPC operates and builds reactorswith technology known to EDF and with high safety and availability performances

� EDF has been cooperating with CGNPC for more than 20 years:

� Support in construction & operation of Daya Bay 1&2 and Ling Ao 1&2and 3&4 (1,000 MW reactors) using Areva technology

� CGNPC‘s participation in the safety challenge of EDF Group’s nuclear fleet

Coal77.7%

Renewables0.7%Hydropower

20.3%

Nuclear1.3%

Chinese energy mix

As a percentage of installed capacities

* China Guangdong Nuclear Power Group

37

Partnership with CGNPC in TaishanPartnership with CGNPC in Taishan

� Key targets

� Being a co-investor/operator in an initial project for 2 EPRs (Taishan) while providing technical support to the project

� Developing a more global partnership in terms of engineering or as an investor in other Chinese or international projects

� Industrial outline of the Taishan project:

� EDF’s role: project management, construction, commissioning, operation

� Use of the Flamanville 3 reference model taking into account initial feedbacks (Flamanville 3 project started 18 months earlier)

� Taishan Nuclear Power Company Joint Venture (TNPC JVC)

� Final agreement signed on 10 August, 2008

38

TNPC JVC

EDF support contract

AREVABoiler nuclear island

ALSTOM GTA convent. island

CNPEC/DC convent. island / BOP*

CGNPC 70% EDF 30%

Building and operating engineering

EDF’s roles within the JV

Providing the joint venture and the CNPEC and CNPDC engineering companies with all the support required to control the project

� Experienced engineers, benefiting from Flamanville 3 feedback

� Documentation resulting from the building of Flamanville 3

Engineering and supplycontracts

Contracting authority: Building and operating 2 EPR units during 50 years

* BOP: Balance of Plant

Taishan Nuclear Power Company Joint Venture Taishan Nuclear Power Company Joint Venture

39

Key milestones in the Taishan 1&2 projectKey milestones in the Taishan 1&2 project

2016201520142013201220112010200920082007

Boiler order

Start of preparatorysite work

First concrete

Start-UpTaishan 1

Start-UpTaishan 2

Taishan 1 Taishan 2

Taishan 1

Taishan 2

40

� United States

41

Constellation Energy Group (CEG) EDF

JV UNE 50/50

� Its nuclear sites

�Knowledge of the electricity sector and the US industrial world

�EPR knowledge (Flamanville 3 and Taishan 1 & 2)

�Expertise in construction of NPPs : management of major projects, negotiation of supply contracts

� 20 people currently seconded by EDF

� Technical services contract between EDF & Unistar Nuclear Energy

A solid industrial partnership : Unistar Nuclear EnergyA solid industrial partnership : Unistar Nuclear Energy

Moreover

� EDF owner of approximately 9.5 % of Constellation Energy Group shares

� Acquisition by EDF of 49,99% of CEG's nuclear assets (Calvert Cliffs 1&2, Nine Mile Point 1&2, Ginna) under review by local authorities : closing expected by end 2009

42

1st EPR in the USA : the Calvert Cliffs 3 project 1st EPR in the USA : the Calvert Cliffs 3 project

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

EPR Design Certification (DC)

COL

Project underwaySupplies and Engineering

Construction

Preparation DC approval

Filing of DC application

Review byNRC

Preparation COL issued *

Filing of COLA application

Reviewby NRC

Environmentalreport submitted

Detailed specifications

• Long-term equipment supply and fabrication contract

• Financing

Site preparationConstruction

1st concrete

* UNE is in discussions with the NRC to examine the optimisation of deadlines

Commercial Operation

Date

43

� Italy

44

Nuclear energy in Italy : EDF-Enel JVNuclear energy in Italy : EDF-Enel JV

� Reminder: Italy was a forerunner in civil nuclear energy in Europe

� Affirmed intention of the Italian government to revive nuclear energy

� Law voted on 23 July 2009

� Improving public opinion, taking account of the Italian energy & climate equation

� Favourable economic environment for the development of nuclear energy

� MoU EDF-Enel on 24 February 2009

� Jointly develop, build and operate a fleet of 4 EPRs in Italy

� Reference plant : Flamanville 3 EPR

� Startup of first unit expected in 2020

� EDF leader of architect-engineering activities for the first unit

� Joint-venture EDF-Enel established on 31 July 2009, in charge of developing the Italian EPR program

45

� Key Factors for Success

46

Key factors for successKey factors for success

� Adapting to the country and its industrial environment� Drawing on the expertise of local electricity players involved in the construction

and operation of nuclear fleet (British Energy, CGNPC, Constellation, Enel…)

� Adapting the organisational model, in particular through industrial agreements with local engineering companies: CGNPC-CNPEC in China, Bechtel in the USA, AMEC in the UK…

� Using wherever possible the Flamanville 3 / FOAK project as reference model

� Gaining from our strong French base (standardisation effect) and relying on the Group’s existing skills and expertise

� Pooling the resources needed for the different projects

� Accruing know-how and resources

� Drawing out standard construction and operating rules

� …

EDF-EletronuclearNuclear cooperation : a

commitment in the long term

48

Cooperation framework : MoU Eletrobras - EDF -Eletronuclear of 23 December 2008 Cooperation framework : MoU Eletrobras - EDF -Eletronuclear of 23 December 2008

� Cooperation on the Nuclear power sector

�Sharing of nuclear experience, which may open the door to future common nuclear project development

�Focus on the 3 main components for the success of a nuclearprogram : administrative & contractual framework, technicalexcellence, financial & economic aspects

� Domains

�Fuel & waste�Management organisation for New Nuclear Build�Operation�Training & Human resources management�Decommissioning�Site selection / public acceptance for new plants�Business organisation for new NPP projects�…