Russia has been supplying US nuclear power plants with fuel for a dumping price since 1995. But with the HEU-LEU agreement coming to an end, America’s nuclear power generation industry is likely to face a sharp fuel price surge and shortage.
The HEU-LEU agreement (Megatons to Megawatts Program) signed in 1993 supposed downblending of 500 tons of Soviet-made military grade highly enriched uranium (HEU) (equivalent to 20,000 nuclear warheads) into low-enriched uranium (LEU) to produce fuel for American nuclear power plants out of it.