MEMO
ENGLISH VERSION
Ta b l e o f C o n t e n t s
P02 RTE in 2015 P03 Profile P04 The grid
www.rte-france.com
RTE Réseau de transport d’électricité – “société anonyme” with an Executive Board and a Supervisory Board (limited company) with a capital of €2,132,285,690 - RCS Nanterre 444 619 258
1, terrasse Bellini TSA 41000 92919 La Défense Cedex
P06 Flow of electricity P08 Generation P10 Consumption & exchange
P12 Electricity market P14 Europe P16 Major achievements in 2015 P18 Major ten-year projects
P20 Financial results for the RTE Group P22 RTE Group organizational structure as of January 2016 P24 Organization of RTE as of 1st June 2016
3
RTE in 2015
Profil Twenty-four hours a day, seven days a week, we convey electricity from suppliers to consumers, at the best cost for our customers and the community.
€4,593 million turnover
As both an architect and a designer of the electricity market, we devise solutions to optimise its operation and infrastructures. We employ innovative methods to adapt the network to the challenges of energy transition.
€215 million net income
We are a key player in electricity in Europe, with 50 cross-border links that provide essential opportunities for exchange and allow us to optimise the electricity system in economic terms. We work constantly with our partners at a local, national and European level. We are 8,500 experts in varied and complementary areas of activity.
8,500 employees
We are RTE, the grid for smart power. Find out how we use our ingenuity to benefit our customers at www.rte-france.com
5
Overhead and underground lines 60,000 50,000 40,000 52,981
30,000
625 km
of new or refurbished lines in 2015
400 kV
Including 17 RTE substations and 7 customer substations
97 %
of new 90 kV and 63 kV lines commissioned between 2013 and 2015 are underground
3,744
225 kV
≤ 150 kV
Overhead lines (km) Underground lines (km)
Number of RTE substations STANDARDIZED VOLTAGE 400 KV AND 225 KV
24 new substations
1,287
5
0
21,815
RTE’s grid
10,000
25,616
20,000
721
STANDARDIZED VOLTAGE ≤ 150 KV
1,989
7
Net energy injected on the RTE grid in TWh Total net energy injected Other renewable energy sources*
1.4
1.4
1.3
Wind
0.9
61.8
416.8
100
415.9
The flow of electricity
495.1
200
494.5
300
53.5
Hydroelectric
400
Fossil Fuel Thermal
22.2
Nuclear
500
14.4
600
0 * Mainly: urban waste, paper manufacturing waste, biogas, photovoltaic
In 2014
In 2015
through RTE’s grid Net delivery on the RTE grid in TWh
495 TWh*
64.3
67.6
Exchange (exports)
6.8
349.1
Pumping
7.8
100
Direct customers 343.9
484.8
200
483.9
400 300
2015 Losses inWh 10.7 T % 10 2. or
Distribution networks
64.6
Total net delivery
64.7
500
0
In 2014
In 2015
total energy injected into the network by generation units in 2015
Net delivery corrected for extreme weather in TWh Distribution networks Pumping
0
*billions of kWh
In 2014
In 2015
6.8
64.3
67.6
Exchange (exports)
7.8
354.2
100
Direct customers 356.7
200
496.8
300
489.9
400
64.6
Total
64.7
500
9
Installed power in MW in France 22,553 Fossil fuel thermal
25,421 Hydro-electric
1,703 Bioenergy 6,191 Photovoltaic 10,312 Wind
Generation
63,130 Nuclear
Energy generated in TWh in France 58.7 Hydro-electric (10.8%) 34.1 Fossil fuel thermal (6.2%)
+24.5%
Wind and photovoltaic generation in 2015 (compared with 2014)
7.9 Bioenergy (1.5%) 7.4 Photovoltaic (1.4%) 21.1 Wind (3.8%)
416.8 Nuclear (76.3%)
Evolution of wind and photovoltaic generation in MW 10,312
10,000 8,000
7,536
8,157
9,313
6,714
6,000 4,000 2,000
1,502 752
0
6,191
5,764 4,574
0
4
3,727
3,327 2,250 7
4,366
5,297
2,584
61
195
874
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Installed wind capacity as of 31 December Installed photovoltaic capacity as of 31 December
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History of french gross annual consumption in TWh 600 500 400
Consumption & exchange
475.4
465.3
489.5
495.0
513.1
478.8
494.5
486.7
478.4
480.4
479.6
200
483.2
468.4
300
100 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
History of annual consumption peaks in France in GW 105
102.1
96.7 92.4
92.5
92.6
91.8
91.6
88.9 86
86.3
84.4 82.5
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
The data correspond to the highest peak demand of the year.
French consumption in 2015
Net physical export balance in TWh 70 60
2010
2012
2013
63.7
2009
48.5
30.5
10
25.7
20
56.9
30
67.2
50 40 45.3
475.4 TWh
80
2014
2015
0
2011
13
Contractual cross-border exchanges in 2015 in TWh GREAT BRITAIN
15.9
CWE* 20.1 13.4
The electricity market
1.8
FRANCE
SWITZERLAND
12
25.9 0.4 2 ITALY
9.3 20.1
SPAIN TOTAL EXPORTS = 91,3
OTAL IMPORTS = 29,6 T * Central West Europe (CWE): the area covering France, Belgium, Germany, Luxembourg and the Netherlands, where electricity market prices have been aligned since 2010
52
Number of balancing entities as of 31 December 2015
2015 results of the balancing mechanism (used to adjust power supply and demand) 2.84 TWh 0
195
Balance responsible entities as of 31 December 2015
+ 3
compared with 2014
-4.34 TWh
Breakdown of the adjustment mechanism for year 2015 in TWh 1,500,000 1,000,000 500,000
Hydroelectric
TSO-Player exchanges Fossil fuel thermal Nuclear Consumption TSO-TSO load-shedding exchanges (Balit/Support)
0
2014
67.8
2015
106.9
Annual volume of power exchanged on the market in TWh (EPEX SPOT)
-500,000 -1,000,000 -1,500,000 -2,000,000
Activated
Submitted
15
Europe is the most interconnected region in the world
600
million consumers
Europe
3,300 TWh
of electricity generated in 2015
more than 300,000 km of extra high-voltage lines
50
354
cross-border links between France and neighbouring countries
interconnecting lines in Europe
Average daily prices on the electricity markets in 2015
Nord Pool € 21,0 /MWh
10,000 MW of interconnection capacity with our European neighbours
Great Britain € 55,7 /MWh
Netherlands € 40,0 /MWh
Belgium € 44,7 /MWh
Germany € 31,6 /MWh
France € 38,5 /MWh Switzerland € 40,3 /MWh Spain € 50,3 /MWh
Italy € 52,3 /MWh
17
Major achievements in 2015 LILLE
ARRAS
Voltage management in CHARLEVILLE-MEZIERES Northern France
AMIENS
EXISTING NETWORK 400 kV line
LAON ROUEN
225 kV line CAEN
SAINT-LO
Pays mantois EVREUX power supply
Bretagne power supply
QUIMPER Côtes-d’Armor power supply
BOBIGNY PARIS CRETEIL
NANTERRE VERSAILLES
EVRY
RENNES
LAVAL
CHARTRES
BAR-LE-DUC
MELUN
NANCY
Seine-et-Marne TROYES power supply
COLMAR
ORLEANS
BLOIS
ANGERS
Bourges power supply
AUXERRE
TOURS
DIJON
BOURGES
Southern Pays de Loire power supply CHATEAUROUX
LA ROCHE-SUR-YON
BESANÇON
Voltage management in Eastern France
NEVERS
LONS-LE-SAUNNIER
POITIERS
Refurbishment of lines
BELFORT
VESOUL
NANTES
Pays de Retz power supply
MOULINS
Increase in traffic on LGV MACON Sud-Est high-speed rail line
NIORT LA ROCHELLE
BOURG-EN-BRESSE
GUERET
ANNECY
Project being studied
LIMOGES
LYONS
CLERMONT-FERRAND
ANGOULEME
Substation projects and connections are represented by pictograms.
STRASBOURG
EPINAL
CHAUMONT
LE MANS
VANNES
Construction of new lines
METZ
Voltage management in CHALONS-EN-CHAMPAGNE Normandy and Western Paris
PONTOISE
SAINT-BRIEUC
ALENÇON
Production integration in Champagne-Ardenne
BEAUVAIS
Bordeaux power supply
CHAMBERY SAINT-ETIENNE
PERIGUEUX
TULLE
GRENOBLE
INTERCONNECTIONS
LE PUY-EN-VELAY AURILLAC
BORDEAUX
VALENCE
PRIVAS
Voltage management in CAHORS South-Western France
SUPPLY SECURITY
Stability of grid in Lower Rhone Valley
AGEN MONTAUBAN
MONT-DE-MARSAN
AIM GENERATION CONNECTION
AUCH
Combined cycle gas turbines Renewable energy Tidal power
PAU
CARCASSONNE FOIX
SECURITY OF THE ELECTRIC SYSTEM
Management of low voltage levels Management of high voltage levels Short-circuit current control Network stability
AVIGNON
ALBI
NIMES
NICE
Production integration in PACA
Perpignan power supply PERPIGNAN
France-Spain interconnection in Eastern Pyrenees
Electricity supply DIGNE-LES-BAINS PACA (safety net)
MONTPELLIER
TOULOUSE
TARBES
GAP
MENDE RODEZ
MARSEILLES
Voltage management in Eastern PACA
TOULON
19
Major ten-year projects
LILLE
ARRAS
AMIENS CHARLEVILLE-MEZIERES LAON ROUEN
BEAUVAIS
CAEN
SAINT-LO
METZ PONTOISE
EVREUX
NANTERRE VERSAILLES SAINT-BRIEUC
EVRY ALENÇON
CHALONS-EN-CHAMPAGNE
BOBIGNY PARIS CRETEIL
CHARTRES
BAR-LE-DUC
NANCY
TROYES RENNES
QUIMPER
LAVAL
STRASBOURG
MELUN
EPINAL
CHAUMONT
LE MANS
COLMAR
ORLEANS AUXERRE
VANNES
ANGERS TOURS
EXISTING NETWORK
DIJON
NANTES BOURGES
400 kV line 225 kV line
NEVERS
LONS-LE-SAUNNIER
POITIERS
Refurbishment of lines Construction of new lines
BESANÇON
CHATEAUROUX
LA ROCHE-SUR-YON
BELFORT
VESOUL
BLOIS
MOULINS
NIORT
MACON
LA ROCHELLE
BOURG-EN-BRESSE
GUERET
ANNECY
Project being studied
LIMOGES
LYONS
CLERMONT-FERRAND
ANGOULEME
CHAMBERY
Substation projects and connections are represented by pictograms.
SAINT-ETIENNE
PERIGUEUX
TULLE
GRENOBLE
INTERCONNECTIONS
LE PUY-EN-VELAY AURILLAC
BORDEAUX
VALENCE
PRIVAS
SUPPLY SECURITY
GAP
MENDE
CAHORS RODEZ AGEN
AIM GENERATION CONNECTION
AUCH
Combined cycle gas turbines Renewable energy Tidal power SECURITY OF THE ELECTRIC SYSTEM
Management of low voltage levels
PAU
DIGNE-LES-BAINS MONTAUBAN
MONT-DE-MARSAN
AVIGNON
ALBI
NIMES
NICE
MONTPELLIER
TOULOUSE
MARSEILLES
TARBES
CARCASSONNE
TOULON
FOIX
PERPIGNAN
Management of high voltage levels Short-circuit current control Network stability
Origin: Ten-Year Development Programme for the 2015 Grid
21
Financial results for the RTE group
Income statement
Financial indicators
Millions of euros
2014
2015
GEARING
2014
2015
Turnover
4,461
EBITDA
1,687
4,593
Ratio net indebtedness / equity
62.9%
63.9%
1,913
ECONOMIC PROFITABILITY (ROCE)
2014
2015
Ratio EBIT / capital employed for business
6.8%
8%
FINANCIAL PROFITABILITY (ROE)
2014
2015
7.4%
4.2%
959
1,206
Financial result
-308
-424
Net income
379
215
EBIT
Financial results shown are in line with IFRS (International Financial Reporting Standards).
Ratio net profit / equity * Provisional figure.
The transmission cost represents 7.5% of a domestic customer’s electricity bill on average
History of RTE’s investments (millions of euros)
Simplified balance sheet ASSETS (millions of euros)
2014
2015
15,054
15,711
Receivables and inventories
1,717
1,443
Cash flow and short financial assets
1,361
974
LIABILITIES (millions of euros)
2014
2015
Net fixed assets
Financial indebtedness
9,238
9,234
Other liabilities
2,629
2,576
2007
2008
2009
1,170
1,021
2006
834
0
773
300
633
600
1,158
900
2010
2011
1,549
1,500 1,200 1,402
1,159
1,374
5,159
1,156
1,446
5,109
Provisions
1,357
Equity
2,000
2012
2013
2014
2015
2016(1)
Within the perimeter of RTE investments approuved by CRE in current euros. (1) Investment figure approved by CRE in 2016.
N.B. RTE’s net financial debt is made up of “Financial debt” (gross) minus “Cash and cash equivalents”, i.e. 7,877 million euros in 2014 and 8,260 million euros in 2015.
NB: Figures for the RTE Group comply with IFRS, except for the return on capital employed which is calculated based on the parent company RTE’s individual financial statements under French GAAP.
RTE Group organizational structure as of January 2016
100%
34%
50%
20%
HGRT 12.1%
100% 49%
100%
100%
100%
5%
DECLARANET
25
Organization of RTE as of 1st June 2016
A limited company governed by a Management Board and a Supervisory Board, RTE’s autonomy, administrative independence and neutrality are guaranteed by its articles of association and mode of governance. THE MANAGEMENT BOARD
rançois BROTTES, President of the RTE Management F Board Valérie CHAMPAGNE, Senior Vice President in charge of finance and procurement O livier GRABETTE, Senior Vice President in charge of long-range planning, expertise and solutions Clotilde LEVILLAIN, Senior Vice President in charge of development & engineering, operation and services Xavier PIECHACZYK, Senior Vice President in charge of networks, customers and regions
EXECUTIVE COMMITTEE
The Executive Committee comprises the 5 members of the Management Board and: ervé LAFFAYE, Deputy President in charge of European H and international affairs A lain FIQUET, Senior Vice President in charge of legal matters & oversight O livier LAVOINE, Senior Vice President in charge of diversification & leverage B ertrand SIGNÉ, Senior Vice President in charge of human resources
SUPERVISORY BOARD
The Supervisory Board is composed of the French State, 3 members appointed by the shareholder on a proposal from the French State, 4 members appointed by the shareholder and 4 members representing employees. French State, represented by Thomas GOSSET Members appointed by the shareholder on a proposal from the French State Didier MATHUS (Chairman) Marie-Solange TISSIER Michel PINET Members appointed by the shareholder Xavier GIRRE (Vice-Chairman) Marc ESPALIEU Nicole VERDIER-NAVES Valérie LEVKOV Members representing employees W ilfried DENOIZAY Jean-Louis DUGAY Dominique LORET Christophe AIME Supervisory Board Secretary A lain FIQUET