Characterizing an Emerging Market for High-Assay, Low-Enriched Uranium Production - Summary for Policymakers – December 2023

Specifically, while high-level estimated costs of HALEU production and funding requirements for a federal program to catalyze investment in new HALEU production capacity are adequate for program establishment, more detailed and robust characterization of costs and funding requirements is needed for program implementation. [...] Policy Takeaways from HALEU Production Cost Analysis The HALEU production cost model provides qualitative and quantitative analysis of HALEU production costs and cost drivers. [...] The remaining 35% of HALEU production costs are driven by new HALEU production activities (including HALEU enrichment and deconversion). [...] Ensuring a robust commercial LEU market is key to minimizing HALEU production costs The HALEU production cost model estimates that 65% of HALEU production costs under baseline conditions will be dependent on uranium commodity products and fuel cycle services that support existing LWRs. [...] Additional legislative authorizations for the HALEU Availability Program would increase the likelihood of program success and reduce the total up-front appropriations requirements, thus enabling the faster development and implementation of a sustainable and successful HALEU development program.