WASHINGTON, D.C.—A proposal before the U.S. Department of Commerce to limit nuclear power plant operators' access to global uranium supply sources is likely to create additional economic stress on an already vulnerable U.S. nuclear industry, a new study finds. With a significant price difference between U.S. and foreign sourced uranium, the proposed quota, if implemented, could likely lead to additional retirements of nuclear facilities beyond those already announced.
The study, “The Market Impact of Proposed U.S. Uranium Import Quotas on the U.S. Nuclear Power Industry,” produced by the NorthBridge Group, suggests that a proposed quota would impose an additional $500 million to $800 million per year in costs on U.S. nuclear power generators. A petition is currently before the Commerce Department making the argument that without relief, the future of the U.S. mining industry is in grave doubt. The Nuclear Energy Institute has told members of Congress that any remedy must not harm the nation’s nuclear energy generators.
“The entire U.S. commercial nuclear energy industry is facing significant economic stress,” said Maria Korsnick, president and chief executive officer of NEI. “We encourage steps that will help to protect the nation’s uranium mining industry—the loss of domestic mining would have a significant detrimental impact on U.S. strategic interests. However, any action taken should not impose onerous financial burdens on companies operating the U.S. nuclear power fleet.”