U.S. Nuclear Plants Squeezed by Cheap Gas, Uranium Costs
This article is for subscribers only.
U.S. nuclear power plant shutdowns loom amid rising costs for uranium and low electricity prices caused by cheap natural gas.
Spot prices of U3O8, or yellowcake, have rebounded 39 percent from a nine-year low in June as U.S. plant owners and speculators stockpiled uranium in anticipation of stronger demand, according to TradeTech LLC and Ux Consulting Co. Kyushu Electric Power Co. received approvals to restart two Japanese reactors as early as 2015, the first since all 48 of the country’s nuclear plants shut after the 2011 Fukushima disaster.