Uranium prices hit post-Fukushima high on nuclear power revival - Nikkei Asia
Uranium prices hit post-Fukushima high on nuclear power revival - Nikkei Asia
TOKYO -- Uranium prices have climbed roughly 50% so far this year to a 12-year high as growing concerns over energy security spurs countries to look again at nuclear energy, an option that had been shunned since the 2011 Fukushima Daiichi meltdowns.
The spot price of uranium ore concentrate came to $72.75 on Monday, according to research firm UxC, firmly above the most recent peak of $63.75 reached in April 2022 in the wake of Russia's invasion of Ukraine.
Related Knowledge Center: ENERGY BASICS: nuclear
Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.