6. Price level

6.1 General

In addition to the economic efficiency historically sought and now legally imposed, EDF is obliged, implicitly or explicitly, to achieve a trend balance in its income statement.

However, there is no reason why revenues from marginal cost pricing should cover the company's overall expenses in any given year. This is because the construction of an income statement is based on accounting rules that differ from economic calculation rules: annual expenses (operating, depreciation and financial expenses) are a function of investments made in the past, whereas marginal costs, by definition, make it possible to cover expenses arising from additional consumption (based on costs forecast for a given horizon, and therefore on future costs). In addition, there...