DOE officials told Reuters they are pressing Centrus Energy, General Matter, and France's Orano to accelerate their new build programs.
The start of the Russia-Ukraine war in 2022 sent prices soaring across the nuclear fuel chain, as the start of the war was also followed by the US implementing a ban on importing Russian enriched uranium.
The panic of fuel for the US commercial reactor fleet not showing up evaporated almost immediately, as waivers were granted to any and all importers (mostly Centrus and US reactor-owning utilities). But, those waivers are set to expire at the start of 2028, and DOE's Michael Goff says there are no plans to extend them.
To solve the enrichment capacity gap, Washington is doing what they do best: throw as much money as they can at the problem. Earlier this year, money was getting thrown around at almost $1 billion per handful.
“If we are going to have this nuclear renaissance, we are not going to be able to do it without fuel,” Deputy Energy Secretary James Danly said.
The government has started by awarding $900 million apiece for Centrus Energy, General Matter, and Orano.
Centrus Energy traces its roots back to the Manhattan Project, when the US invented uranium enrichment technology to fuel the bombs that were dropped over Japan. With the las
