The price of nuclear fuel hits a record

The price of fuel for nuclear reactors, enriched uranium, has more than tripled in three years, from 56 American dollars per unit to 190 dollars, writes Financial Times.

» Published:

The price of nuclear fuel hits a record
Photo: Ross D. Franklin/AP/TT

Share this article

Behind the surge lies the renewed interest in investments in nuclear power, driven among other things by increased energy needs from large facilities for AI centers and the transition from fossil fuels to nuclear power. The availability of fuel has also been squeezed due to the invasion of Ukraine, which has led to sanctions against Russia.

Russia is a major player in enriching uranium from ore to fuel, and Kazakhstan, the world's largest uranium miner, has signaled lower production than expected, and what is produced there tends to go primarily to Russia and China.

Nick Lawson, CEO of the investment group Ocean Wall, tells the newspaper that there simply is not enough capacity in the Western world for uranium conversion and enrichment, what exists in France, the USA, and Canada is not sufficient. This affects prices, prices that can only go one way – up.

There are a multitude of very important decisions to be made, says Lawson, referring to facilities for uranium conversion and the supply chain for nuclear power.

He emphasizes that the process, and the construction, will take many years and cost enormous sums.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Nvidia and Intel Partner to Develop Computer and Data Center Chips

Nvidia and Intel Partner to Develop Computer and Data Center Chips

Bank of England Keeps Interest Rate Steady at 4.0 Percent

Bank of England Keeps Interest Rate Steady at 4.0 Percent

Novo Nordisk Shares Surge 5% After Positive Ozempic Study

Novo Nordisk Shares Surge 5% After Positive Ozempic Study

Energy Talks End Without Agreement; Government Considers Offshore Wind Support

Energy Talks End Without Agreement; Government Considers Offshore Wind Support

Norway Central Bank Reduces Interest Rate to 4.0 Percent

Norway Central Bank Reduces Interest Rate to 4.0 Percent

Stockholm Stock Exchange Rises After US Interest Rate Cut

Stockholm Stock Exchange Rises After US Interest Rate Cut

Billerud to Cut Up to 650 Jobs Amid Cost-Saving Measures

Billerud to Cut Up to 650 Jobs Amid Cost-Saving Measures

Reduced Benefits Linked to Poorer School Results and Increased Crime

Reduced Benefits Linked to Poorer School Results and Increased Crime

Swedish Companies Face Record 12-Quarter Economic Slump

Swedish Companies Face Record 12-Quarter Economic Slump

Asian Stocks Rise Following US Fed Interest Rate Cut

Asian Stocks Rise Following US Fed Interest Rate Cut

Blackstone to Invest £90 Billion in UK Projects Over Next Decade

Blackstone to Invest £90 Billion in UK Projects Over Next Decade

Wall Street Mixed as Fed Cuts Interest Rate but Signals Caution

Wall Street Mixed as Fed Cuts Interest Rate but Signals Caution

Fed Lowers Interest Rate by 0.25 Points, Signals More Cuts This Year

Fed Lowers Interest Rate by 0.25 Points, Signals More Cuts This Year

China Urges Tech Giants to Halt Nvidia AI Chip Purchases

China Urges Tech Giants to Halt Nvidia AI Chip Purchases

Jerry Greenfield Departs Ben & Jerry's, Citing Silencing by Unilever

Jerry Greenfield Departs Ben & Jerry's, Citing Silencing by Unilever

Avanza Introduces Digital Trading on London Stock Exchange

Avanza Introduces Digital Trading on London Stock Exchange

Uber Introduces Safari Tours in Kenya's Nairobi National Park

Uber Introduces Safari Tours in Kenya's Nairobi National Park

Swedish Inflation Expectations Rise Slightly in Latest Survey

Swedish Inflation Expectations Rise Slightly in Latest Survey

Sweden's Unemployment Rate Stays High in August

Sweden's Unemployment Rate Stays High in August

Stockholm Stock Exchange Sees Modest Gain Led by H&M

Stockholm Stock Exchange Sees Modest Gain Led by H&M