natgillin/translations-raw huggingface dataset:
Even if EDF would probably have been able to find a lender, the corresponding loan or bond issue would have had to be remunerated, in all likelihood, at a higher rate than the rate that the French state anticipated for capital contributions to EDF for the period 1997-2000 and higher than the refinancing cost equivalent to the government bonds in 1997.
ADOPTĂ PREZENTA DECIZIE:
If EDF could have had an equivalent amount in principal, the financing costs would have been greater than that of the alleged investment.
Articolul 1
Even then, without taking into account a repayment of principal, which EDF was not required to make, in the amount of the tax exemption or the equivalent amount in capital contributions in 1997, the measure would have provided an economic advantage to EDF by reducing its financing costs.
Scutirea de la plata impozitului pe profit în favoarea Electricité de France pentru o sumă de 5882849762 de franci francezi, cu privire la reclasarea drept capital a provizioanelor care corespund contravalorii bunurilor în natură concesionate rețelei de alimentare generală, constituie ajutor de stat în sensul articolului 107 alineatul (1) din TFUE.
Even if the principle of the prudent private investor in a market economy were applicable, in the light of the documents provided by the French authorities shedding light, according to them, on the profit expectations and risks attached to the alleged investment in the form of a tax exemption, application of the test of the private investor in a market economy leads to the conclusion that a prudent private investor would not have invested an amount equal to the tax due in the EDF capital increase in 1997.
Ajutorul menționat la alineatul (1), acordat ilegal de Republica Franceză, este incompatibil cu piața internă.
The non-payment by EDF of FRF 5,88 billion in corporation tax does not appear to be a productive investment by the state as shareholder in application of the principle of the prudent private investor in a market economy.
Articolul 2
It appears rather to be an ad hoc derogating tax exemption that provided an economic advantage to EDF equal to the amount of tax not paid.
Republica Franceză este obligată să recupereze contravaloarea în euro a ajutorului menționat la articolul 1 de la beneficiar.
Such an advantage necessarily strengthens the position of EDF vis-à-vis its competitors, since the amount of equity capital determines, among other factors, the external financing capacity and conditions of an undertaking while, moreover, the resources saved in this way could be used for other purposes such as, for example, investment in France or in other Member States where competitors conducted their business in 1997.
Sumele care trebuie recuperate sunt purtătoare de dobânzi de la data la care au fost puse la dispoziția beneficiarului până la data recuperării lor efective.
The economic advantage therefore distorts competition within the meaning of Article 107(1) of the TFEU.
Dobânda se calculează pe o bază compusă, în conformitate cu capitolul V din Regulamentul (CE) nr. 794/2004.
The advantage is selective, since the non-payment of corporation tax on some of the accounting provisions constitutes an exception to the tax treatment normally applicable to such an operation and, in the present case, this exception was applied only to EDF.
Articolul 3
STATE RESOURCES
Recuperarea ajutorului menționat la articolul 1 este imediată și efectivă.
The concept of aid embraces not only positive benefits, such as subsidies, but also interventions by the public authorities which mitigate the charges that are normally included in the budget of an undertaking and which have the same effect as subsidies [41].
Republica Franceză se asigură că prezenta decizie este pusă în aplicare în termen de patru luni de la data notificării acesteia.
The EU Courts have consistently held [42] that the non-collection by the state of a tax which should normally have been collected is equivalent to the consumption of state resources.
Articolul 4
The non-collection of the full amount of corporation tax due in respect of the 1997 financial year derived directly from a measure adopted by the state, namely Act No 97-1026 of 10 November 1997.
În termen de două luni de la notificarea prezentei decizii, Republica Franceză prezintă Comisiei următoarele informații:
DISTORTION OF COMPETITION AND EFFECT ON TRADE BETWEEN MEMBER STATES
valoarea totală (principal și dobânzi) care trebuie recuperată de la beneficiar;
From its creation in 1946 to the entry into force of Directive 96/92/EC, EDF enjoyed a monopoly position in the French market with exclusive rights for the transmission, distribution, and import and export of electricity.
o descriere detaliată a măsurilor deja adoptate și a celor planificate în vederea conformării cu prezenta decizie;
However, EDF competed with other producers in other Member States already ahead of the entry into force of Directive 96/92/EC.
documente care să demonstreze că beneficiarul a fost somat să ramburseze ajutorul.
Moreover, free competition existed in related markets not subject to exclusive rights where EDF had already diversified its activities beyond its exclusive rights in both geographic and sectoral terms.
Republica Franceză informează Comisia cu privire la evoluția măsurilor naționale luate pentru punerea în aplicare a prezentei decizii până la recuperarea completă a ajutorului menționat la articolul 1.
Effects on competition did therefore exist well before the liberalisation provided for by Directive 96/92/EC.
Republica Franceză transmite fără întârziere, la simpla solicitare a Comisiei, toate informațiile privind măsurile care au fost deja adoptate și cele planificate în vederea conformării cu prezenta decizie.
Electricity was the subject of significant, growing trade between Member States in which EDF was actively engaged.
De asemenea, Republica Franceză furnizează informații detaliate cu privire la valorile ajutorului și la dobânzile recuperate deja de la beneficiar.
These exchanges, reinforced by the adoption of Council Directive 90/547/EEC [43], were taking place on the basis of commercial agreements between the various operators of the high-voltage electricity networks in the Member States.
Articolul 5
In the European OECD member countries, electricity imports grew at an average annual rate of over 7 % between 1980 and 1990.
Prezenta decizie se adresează Republicii Franceze.
Between 1981 and 1989, EDF multiplied the surplus on its balance of trade in electricity nine fold, achieving net exports of 42 TWh, representing 10 % of its total production.
Adoptată la Bruxelles, 22 iulie 2015.
In 1985, EDF already exported 19 TWh to other Member States.
Pentru Comisie
Even before Directive 96/92/EC entered into force in February 1999, some Member States acted unilaterally to open up their electricity market.
Membru al Comisiei
In particular, the United Kingdom opened up its market completely for large industrial customers in 1990.
Începând cu 1 decembrie 2009, articolele 87 și 88 din Tratatul CE au devenit articolele 107 și, respectiv, 108 din Tratatul privind funcționarea Uniunii Europene („TFUE”).
Sweden opened up its market completely in 1996, Finland began the process in 1995 and reached 100 % market opening in 1997, Germany completely opened up its market in 1998 and the Netherlands opened up its market completely for industrial customers in 1998.
Cele două seturi de dispoziții sunt, în esență, identice.
In those circumstances, even before the deadline set by the Directive for opening up the market to competition, State aid granted to enterprises enjoying a monopoly in a Member State that took an active part in intra-Union trade, as in the case of EDF, was likely to affect trade between Member States within the meaning of Article 107(1) of the Treaty.
În sensul prezentei decizii, trimiterile la articolele 107 și 108 din TFUE trebuie înțelese ca trimiteri la articolele 87 și 88 din Tratatul CE, atunci când este cazul.
The report also stressed that in 1997 EDF had ‘increased the number and size of its investments in Europe by extending its presence to Austria and Poland’ and had ‘exported over 70 TWh in Europe’.
În prezenta decizie se utilizează terminologia din TFUE.
These exports were delivered in competition with alternative suppliers in the markets concerned.
JO C 280, 16.11.2002, p. 8.
The 1997-2000 management contract, signed on 8 April 1997 between the French state and EDF, stipulated that EDF was to allocate some FRF 12-13 billion to its international investments, assigning priority to regions in Europe.
JO L 49, 22.2.2005, p. 9.
Between 2000 and 2002, EDF acquired one third of the capital of the German company EnBW, increased the production and distribution capacities of its United Kingdom subsidiary London Electricity, took direct control of the Italian enterprise Fenice and set up a partnership with Fiat for the purchase of Montedison (now Edison).
Hotărârea Tribunalului din 15 decembrie 2009 în cauza T-156/04-EDF/Comisia, Rep., 2009, p.
In 1997, SDS, a wholly owned subsidiary of EDF, brought together its activities associated with the provision of services to individual customers, businesses and local authorities.
II04503.
SDS was active in waste treatment, street lighting and other energy-related services and generated turnover equivalent of EUR 685 million in 1998 as against EUR 650 million in 1997.
Hotărârea Comisia/EDF C-124/10P, UE:C:2012:318.
In 2000, EDF established a partnership with Veolia Environnement via the company Dalkia, the European leader in energy services to businesses and local authorities.
JO C 186, 28.6.2013, p. 73.
Dalkia offers energy engineering and maintenance services, manages heating plants and technical services to do with the operation of buildings and operates district heating networks, combined heat and power schemes, and energy production and industrial fluid systems.
Răspunsul autorităților franceze din 23 decembrie 2013, punctele 71 și 72.
EDF has also developed its activities in the market for renewable energy sources.
Raportul special privind concesiunile EDF nr. 1993 din 10 octombrie 1994.
In 1997, the holding company Chart, a wholly owned EDF subsidiary, brought together its activities in the renewables sector, e.g. geothermal energy and wind power.
Directiva 96/92/CE a Parlamentului European și a Consiliului din 19 decembrie 1996 privind normele comune pentru piața internă a energiei electrice (JO L 27, 30.1.1997, p. 20).
Its contribution to consolidated turnover that year was EUR 70 million.
Regulamentul (CE) nr. 659/1999 al Consiliului din 22 martie 1999 de stabilire a normelor de aplicare a articolului 108 din Tratatul privind funcționarea Uniunii Europene (JO L 83, 27.3.1999, p. 1).
Lastly, as an electricity producer and distributor, EDF was and still is in competition with suppliers of other substitute energy sources such as coal, oil and gas, both in its domestic market and in international markets.
Hotărârea Comisia-EDF, C-124/10P, UE:C:2012:318, punctul 84.
It has thus increased its market share in comparison with its competitors who supply substitute energy sources such as oil or gas.
(Recapitalizarea din 1997 a EDF de către statul francez satisface testul investitorului privat?).
In the steel industry, electric furnaces are in competition with gas and oil-fired furnaces.
Raport final din 15 octombrie 2013.
It follows that a measure such as the one at issue is liable to distort competition with alternative suppliers, such as Gaz de France.
Contract de antrepriză Stat/EDF 1997-2000, semnat la 8 aprilie 1997.
EDF thus occupied a prominent position in electricity trading between the Member States in 1997, whereas now the French electricity market is fully open and many European suppliers are present.
Scrisoarea din 12 iulie 1996 a ministrului economiei și finanțelor și a ministrului industriei, poștei și telecomunicațiilor către președintele EDF, scrisoarea din 22 aprilie 1997 a ministrului economiei și finanțelor, a ministrului delegat pentru buget și a ministrului industriei, poștei și telecomunicațiilor către președintele EDF.
It is therefore clear that, in 1997, EDF was already well established in certain markets in other Member States and that the aid resulting from the non-payment by EDF of corporation tax on some of the accounting provisions created free of tax for the renewal of the RAG inevitably affected competition between Member States.
Scrisoarea directorului financiar al EDF către șeful serviciului finanțe și participații al trezoreriei din 19 februarie 1997;
The above considerations were detailed in the extension decision.
Nota de analiză a EDF, din 27 iulie 1996, cu privire la remunerația acționarului, transmisă Senatului la 15 septembrie 1997.
Neither France nor EDF disputed in their comments that the aid was likely to affect trade between Member States.
Expunerea de motive de la articolul 45 din proiectul de lege privind diverse dispoziții de ordin economic și financiar, adoptat în consiliul de miniștri la 5 aprilie 1997;
Thus, since the four criteria set out in Article 107(1) TFEU are fulfilled, the non-payment by EDF of corporation tax on some of the accounting provisions created free of tax for the renewal of the high-voltage transmission network constitutes State aid.
raportul Comisiei financiare, a economiei generale și a planificării din cadrul Adunării Naționale, prezentat de deputatul Didier MIGAUD la 10 septembrie 1997 cu privire la proiectul de lege nr. 201 privind măsuri urgente cu caracter fiscal și financiar;
The compatibility of the aid with the internal market must now be assessed.
raportul senatorului Alain Lambert cu privire la proiectul de lege privind măsuri urgente cu caracter fiscal și financiar prezentat la 24 septembrie 1997;
ASSESSMENT OF THE COMPATIBILITY OF THE AID WITH THE INTERNAL MARKET
discursul ministrului economiei, finanțelor și industriei, de prezentare a proiectului de lege MUFF în fața Senatului, la 2 octombrie 1997.
Article 107(1) of the TFEU provides that aid fulfilling the criteria laid down therein is in principle incompatible with the internal market.
Informații care intră sub incidența secretului profesional.
According to settled case-law, it is for the Member State to cite the reasons and evidence of any kind for which State aid is compatible with the internal market [44].
Contractul se referă la Directiva 96/92/CE.
In the present case, the French Republic has cited no reason nor provided any information in this regard.
Directiva respectivă, precum și cele care au urmat, nu stabilește norme privind statutul societar al producătorilor, transportatorilor sau distribuitorilor de energie electrică în cadrul pieței interne.
The exceptions laid down in Article 107(2) of the TFEU are not applicable in the case in point because of the nature of the aid since it does not pursue the objectives listed in that paragraph.
Modificările privind rezultatul reportat nu fac parte din efectele articolului stricto sensu, dar sunt o consecință logică a acestuia.
Nor does the aid in question fulfil the conditions laid down for exceptions in Article 107(3)(a) and (c) of the TFEU in respect of aid intended to promote the economic development of certain regions, particularly since it corresponds to operating aid.
Rentabilitatea pentru statul acționar se explică prin nivelul scăzut al bazei dotărilor cu capital de 36 de miliarde FRF (numitorul raportului) și prin importanța provizioanelor contabile.
It is not conditional on investments or on job creation as envisaged in the Guidelines on regional State aid [45].
După contabilizarea acestora, până în 1996, rezultatul net anual al EDF a devenit negativ.
Article 107(3)(c) of the TFEU also allows an exception to be made for aid to facilitate the development of certain economic activities, where such aid does not adversely affect trading conditions to an extent contrary to the common interest.
Rezultatul negativ reportat al contului de profit și pierdere se reflecta sub formă de consum de fonduri proprii în bilanț, fixate la 24,2 miliarde FRF (a se vedea tabelul 2, coloana „Sfârșitul anului 1996” care arată modul în care fondurile proprii ale EDF au scăzut la un rezultat negativ reportat de 20,2 miliarde FRF, înainte de modificarea introdusă de articolul 4 din Legea nr. 97-1026).
The aid measure under examination does not qualify for this exception.
Întrucât impozitul nu era prelevat pe rezultate negative, rentabilitatea foarte pozitivă pentru statul acționar ar fi fost în detrimentul statului perceptor.
The derogation from the applicable tax law, granted for the benefit of a single enterprise, cannot be regarded as being intended to facilitate the development of an activity.
Hotărârea Comisia-EDF, C-124/10P, UE:C:2012:318, punctul 82.
Its sole purpose is to assist an enterprise by reducing its operating costs.
Hotărârea Comisia-EDF, C-124/10P, UE:C:2012:318, punctul 83.
As regards the exceptions allowed by Article 107(3)(b) and (d) of the TFEU, the aid measure under examination is not intended to promote the execution of a project of common interest, remedy a serious disturbance in the French economy or promote culture and heritage conservation.
Hotărârea Comisia-EDF, C-124/10P, UE:C:2012:318, punctul 104.
The compatibility criteria set out in Article 107(2) and (3) of the TFEU are therefore not met.
Hotărârea Comisia-EDF, C-124/10P, UE:C:2012:318, punctul 86.
Furthermore, as regards compensation for public service costs, the French authorities have not cited Article 106(2) of the TFEU in defence of the tax concession, but they have stressed the fact that EDF performs public service tasks.
Hotărârea Comisia-EDF, C-124/10P, UE:C:2012:318, punctul 95.
They have not, however, provided any assessment of the cost incurred by EDF in carrying out those tasks.
Studiul OXERA, punctele 3.3, 3.24-3.25
The Commission cannot therefore determine whether or not the tax concession in question compensates for any additional cost linked to the public service tasks entrusted to it.
Studiul OXERA, tabelul A 2.2
In any event, if the non-payment of the tax must be qualified as compensation for the provision of a service of general economic interest, it has not been established that such compensation was determined in advance in accordance with transparent and objective criteria and calculated by reference to the costs of an efficient undertaking.
Studiul OXERA, punctul 3.3.
It is consequently not possible in the case in point to examine whether the conditions set out in the judgment in Altmark [46] for escaping the application of Article 107(1) of the TFEU, and the criteria for qualifying for the exception allowed by Article 106(2) of the TFEU, which, moreover, the French authorities do not cite, are fulfilled.
Studiul OXERA, punctul 3.3, 3.15, tabelul 3.2, tabelul 3.8 pentru coeficientul beta și anexa 5.
In the light of the foregoing considerations, it appears that the aid under examination constitutes operating aid which has had the effect of strengthening EDF's competitive position in relation to its competitors.
Studiul OXERA, punctele 3.5, 3.13, 3.20-3.23.
In those circumstances, it would be incompatible with the internal market.
Media anuală a ratei zilnice a împrumutului Phare francez la 30 de ani și la 10 ani, sursa Banque de France:
The Commission also considers that, contrary to what is claimed by the French authorities, the rule on limitation periods does not apply in the case in point.
Rata de referință a bonurilor de trezorerie și OAT, http://www.banque-france.fr/economie-et-statistiques/changes-et-taux.
Admittedly, EDF created the accounting provisions free of tax between 1987 and 1996.
Relevanța unui calcul al rentabilității privind totalul fondurilor proprii imobilizate în întreprindere în raport doar cu capitalurile investite sub forma unor dotări cu capital este confirmată de faptul că, în contractul dintre stat și EDF pentru perioada 2001-2003, remunerația statului calculată ca procent (37,5 %) din rezultatul net a fost încadrată într-un interval de minim (1,5 %) și maxim (4,5 %) din capitalul propriu de bază.
However, it should be pointed out, firstly, that corrections to accounting errors, which by their very nature relate to the posting of past transactions, should according to the National Accountancy Council be posted in the accounts for the financial year in which they are discovered and, secondly, that the Act providing that the grantor rights were to be reclassified as capital contributions without being subject to corporation tax dates from 10 November 1997.
Răspunsul autorităților franceze din 23.12.2013, punctul 53.
The tax concession therefore dates from 1997 and any new aid paid on that date is therefore not time-barred because the first Commission instrument concerning this measure dates from 10 July 2001.
Raportul anual EDF 1997, p. 103.
Furthermore, under Article 15 of Regulation (EC) No 659/1999, legal proceedings suspend the period of limitation.
La articolul 2 din decizia din 16 decembrie 2003 [C(2003) 4637 final] (JO L 49, 22.2.2005, p. 9), Comisia a decis să nu formuleze obiecții cu privire la reforma sistemului de pensii care se aplică sectorului industriei electrice și a gazelor de care aparținea EDF.
CONCLUSIONS
Reforma a avut drept efect transferarea către sistemul general de asigurări sociale a cheltuielilor și a angajamentului privind cheltuielile pentru pensii ale sistemului specific al personalului EDF și al celorlalte societăți care participă la acesta.
The Commission finds that France has unlawfully implemented the aid in question in breach of Article 108(3) of the TFEU.
Modelul DDM reprezintă valoarea întreprinderii pe baza dividendului (ultim) plătit (Dt), a ratei de creștere a dividendelor (ɗD) și a remunerației țintă sau a costului de oportunitate al capitalului (K), conform formulei Vr = Dt (1 + ɗD)/(K – ɗD).
The Commission considers that the exemption from corporation tax in the amount of FRF 5882849762 relating to the reclassification as a capital contribution, provided for by Act No 97-1026, of accounting provisions for the renewal of the high-voltage transmission network, already implemented to the tune of FRF 14119065335, constitutes aid that is illegal and incompatible with the internal market.
Modelul DDM este, de asemenea, utilizat în studiul efectuat de Oxera în numele EDF (punctele 3.27-3.31, tabelul 3.4), dar cu valori diferite, dintre care unele extrem de nerealiste.
Under Article 108(2) of the TFEU, when the Commission has found that aid is incompatible with the internal market, it is competent to oblige the Member State concerned to abolish or alter it.
Studiul Oxera reține o rată de creștere a dividendelor de 9,3 % pe an.
According to Article 14 of Regulation (EC) No 659/1999 ‘where negative decisions are taken in cases of unlawful aid, the Commission shall decide that the Member State concerned shall take all necessary measures to recover the aid from the beneficiary (hereinafter referred to as a “recovery decision”).
Ratele de creștere a dividendelor sunt asociate, într-un calcul pe viață, cum este cel al modelului DDM, cu creșterea societății.
The Commission shall not require recovery of the aid if this would be contrary to a general principle of Community law’.
Rate de creștere de 9,3 %, cu mult peste nivelul inflației și al creșterii produsului intern brut (denumit în continuare „PIB”) pe termen lung, înseamnă că, în cele din urmă, EDF ar acapara întregul PIB al Franței.
The Commission's objective in requiring the Member State concerned to recover the aid incompatible with the internal market is to restore the previously existing situation [47].
O valoare actualizată netă negativă pentru o rată a dobânzii (actualizare-finanțare) dată indică faptul că investiția nu este rentabilă la această rată a dobânzii.
In this context, the Court of Justice has established that that objective is attained once the recipient has repaid the amounts granted by way of unlawful aid, thus forfeiting the advantage it enjoyed over its competitors.
Rata internă a rentabilității (pozitivă – „RIR”) indică rata efectivă a dobânzii pentru care fluxurile financiare preconizate remunerează o investiție.
In this way, the situation prior to payment of the aid is restored [48].
Ipoteza că dividendele EDF ar crește cu 4,51 % (sensibilitate 1, tabelul 6.2) pare optimistă;