U3O8 SPOT $85.60/lb May 2026 · US FLEET CF 91.9% 2025 · NRC · 2035 DEFICIT 32 Mlbs/yr base model · · JAPAN OPERATING 15 units +2 approved · CHINA U/C ~24 units ~10 completed 2025 · US IMPORT DEP. ~95% EIA-851 2025E · TERM SPREAD +$5.11/lb re-contracting · FORCED-BUY YR 2028 base scenario · U3O8 SPOT $85.60/lb May 2026 · US FLEET CF 91.9% 2025 · NRC · 2035 DEFICIT 32 Mlbs/yr base model · · JAPAN OPERATING 15 units +2 approved · CHINA U/C ~24 units ~10 completed 2025 · US IMPORT DEP. ~95% EIA-851 2025E · TERM SPREAD +$5.11/lb re-contracting · FORCED-BUY YR 2028 base scenario ·
Sovereign Nuclear Intelligence  ·  May 2026

Nuclear market data.
Built from government sources.

Want an edge in uranium and electric utilities investing? Using Python and Claude, we’ve built intelligence reports that synthesize data from the EIA, NRC, IAEA, and other global sources. Governments publish a wealth of nuclear and uranium data — Uranium Edge organizes and visualizes it in ways that surface new, actionable insights.

See Free Reports → How It’s Built ↓
92
U
Uranium
238.029 u
Actinide — Nuclear Fuel
$85.60/lb
U3O8 spot est.
EIA: 44.7M lbs/yr
US fleet consumption
● Critical
~95%
US Import Dependency (2025E)
US produced 2.16M lbs in 2025 (est.) against ~40M lbs/yr fleet consumption — ~95% import dependent. In 2024, only 677K lbs were produced (~98% import dependent). Near-total foreign dependence on Kazakhstan, Canada, Australia.
EIA-851 quarterly · EIA-923 · 2024A / 2025E
● Baseload
50%
US Zero-Carbon Electricity
Nuclear generates 785 TWh/yr — half of all US zero-carbon electricity. Running at 91.9% capacity factor (2025), it is the only dispatchable zero-carbon baseload on the US grid.
EIA Electric Power Monthly — 2025
● Purchasing
55.9M lbs
US Utility Purchases (2024)
US utilities purchased 55.9M lbs U3O8 in 2024 — up from prior years — at a weighted-average price of $52.71/lb. Purchases exceed annual consumption as utilities rebuild inventories depleted after Fukushima.
EIA Uranium Marketing Annual Report 2024 — rel. Sep 30, 2025
● Deficit
32 Mlbs
2035 Annual Deficit
Global demand grows +30% by 2035 while primary supply grows only +15%. The structural gap widens every year. Carry inventory exhausted 2028–2031.
IAEA PRIS · WNA · EIA · analyst model
Transparency

Government data, analyst-organized.

This dashboard is primarily based on government data and is structured so you don’t have to parse 400-page EIA spreadsheets yourself.

EIA-923 · EIA-858 · EIA-851
US fleet demand & supply
US uranium demand from EIA-923 nuclear generation data (monthly, per-plant). Supply origin, contract prices, and utility inventories from EIA-858 Uranium Marketing Annual Report. Domestic production from EIA-851 quarterly surveys. All public government releases.
US Energy Information Administration — public quarterly/annual
NRC ADAMS · NRC Daily Status
Fleet licensing & operations
94 US reactor units tracked by license expiry date from NRC ADAMS database. Daily capacity factor from NRC’s publicly posted Power Reactor Status Reports. SLR (subsequent license renewal) pipeline built from NRC docket filings.
Nuclear Regulatory Commission — public daily/annual
IAEA PRIS · WNA
Global reactor database
All operating and under-construction reactors worldwide from IAEA Power Reactor Information System. Japan restart status from NRA public filings and utility announcements. China build pipeline from NEA approvals cross-referenced with IAEA PRIS.
IAEA PRIS · NRA Japan · WNA Nuclear Fuel Report
CNSC
Supply-side sovereign filings
Canadian production from CNSC regulatory filings. Supply gap is analyst-derived from public figures.
CNSC · analyst estimate
SEC 10-K · Public Law
Utility coverage & policy
Per-utility uranium coverage ratios built from annual 10-K disclosures. Russian uranium ban modeled from Public Law 118-67 (PURA). DOE subsidy programs from Federal Register notices. All data from public filings with ~2 month disclosure lag.
SEC EDGAR · Federal Register · Public Law 118-67
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The US Demand Model, US Quarterly Mine Production, Nuclear Generation & Capacity Factor, and US Nuclear Infrastructure Map open immediately — no email, no account. Five more reports (Conversion & Enrichment, SWU Gap, HALEU Brief, SMR Supply Chain, and Conversion Tracker) open as free previews. Read the data and check the sources before deciding if the full suite is worth it.
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What’s Inside

34 reports across 7 intelligence areas.

Supply, demand, fleet, international, electricity, advanced fuel, and markets — all sourced from sovereign data where possible. Updated on government publication cycles, not market rumors.

Free open immediately, no account Pro $9/month — full suite EIA NRC IAEA Gov data source
Uranium Supply & Sources EIA-851 · EIA-858 · CNSC
📈
US Quarterly Mine Production
Q4 2025: 1,043K lbs — best quarter on record. White Mesa Q4 breakout (685K). Willow Creek restart confirmed Q3 2025. 5-quarter trend, facility-by-facility.
FreeEIA-851Q
⛏
US Annual Mine Production
2025: 2.16M lbs (+229% YoY). 9 facilities. White Mesa 47%, Alta Mesa 28%, Lost Creek 19%. Historical 2015–2025. Operator breakdown.
FreeEIA-851A
🌍
Supply Origin
55.9M lbs delivered 2024. Kazakhstan 28%, Canada 26%, Australia 15%, Russia 12%. By year and type.
ProEIA-858
🌐
Global S/D Balance
32M lbs/yr 2035 deficit. 206M lbs cumulative gap. Demand +30% vs supply +15%. Inventory exhausted 2028–2031.
ProIAEA · WNA
⛏️
US Production vs Consumption
677K lbs produced in 2024 (~98% import dependent); 2.16M lbs in 2025 (~95%). Production history 2005–2025. ISR ramp scenarios.
PreviewFull: ProEIA-851
💰
Delivered Cost Tracker
Fleet avg $68/lb delivered vs ~$85 spot. 22% re-contracted at market. Per-plant costs. Roll-off 2029 convergence.
ProEIA-923 Sch2
Utility Demand & Contracting EIA-923 · EIA-858 · SEC 10-K
🤖
AI & Hyperscaler Nuclear Demand
Microsoft/TMI online (835 MW). Amazon, Google, Meta, Oracle pipeline: ~6 GWe total. ~2.4M lbs/yr U₃O₈ incremental — invisible to EIA forecasts.
PreviewFull: ProSEC · FERC · DOE
⚡
US Demand Model
40M lbs/yr market demand (EIA MER Table 8.2). Per-plant, per-month. Forward projections. 94 units.
FreeEIA-923
📦
Lifetime Demand Backlog
618M lbs remaining lifetime fleet consumption. Per-unit through license expiry. SLR upside +170M lbs.
ProNRC · EIA-923
⏳
Contract Gap Model
Forced-buy waterfall. 2027 bull / 2028 base trigger. Russian ban cliff Dec 2027 removes 6M lbs/yr.
ProEIA-858
🏦
Utility Coverage & Uncovered Position
126.4M lbs inventory end-2024 (P). Coverage drops below 85% by 2027–2028. ~22M lbs uncovered by 2029. Russian waiver cliff Dec 2027. Per-utility rankings from SEC 10-K.
ProEIA-858 · SEC 10-K
🏭
Utility Procurement Profiles
11 utilities profiled. Constellation 8.5M lbs/yr. Talen/Amazon co-location. Vistra ERCOT exposure.
ProEIA-858 · EIA-923
📋
Contracting Intelligence
18% sector contracted. 82% uncontracted (17.4M lbs/yr). 5 active term contracts. Offtake pipeline.
ProEIA-858
📈
Utility Uranium Inventory
126.4M lbs end-2024 (P) — up +10.6% YoY as utilities rebuild. 184.2M lbs unfilled through 2034. 2028 cliff: unfilled jumps from 3.4M to 11.5M lbs/yr.
PreviewFull: ProEIA-858
Electricity & Economics EIA-923 · EPA eGRID · FERC · NYSERDA · NRC
📈
Nuclear Generation & Capacity Factor
91.9% fleet CF (2025). Monthly pulse + per-plant ranking + historical 1990–2025. 1% CF = ~430K lbs/yr swing.
FreeEIA-EPM · NRC Daily
⚡
Nuclear Fuel Cost per MWh
$3.40/MWh uranium component (EIA-923). Full fuel cycle $10.10/MWh — still 62% cheaper than gas at $26.90/MWh.
PreviewFull: ProEIA-923 Sch2+3
🌿
Nuclear Carbon Intensity
3.6 g CO2/kWh operational (eGRID). 320 Mt CO2 avoided/yr vs gas. At IRA SCC $51/ton, nuclear's carbon advantage is worth $20.76/MWh — more than its entire fuel cost.
ProEPA eGRID · IPCC AR6
🏛️
FERC Form 1 — Fuel Expense
Full fuel cycle cost by utility. $10.10/MWh total vs $3.40/MWh uranium. Even at $150/lb U3O8, nuclear stays 47% cheaper than gas.
ProFERC · EIA EPA
⚡
State ZEC Tracker
18 reactors across 4 states receive ~$1.1B/yr in Zero Emission Credits. NY cliff (Apr 2029) is the key risk. IL ZECs near zero when power prices are high.
ProNYSERDA · NJBPU · CT DEEP · ICC
🗾
Nuclear Share by Region
PJM 35% · SERC 32% · NYISO 28%. Illinois 54%. Grid dependency by RTO/ISO and state.
ProEIA Power Monthly
Fleet & Infrastructure NRC ADAMS · NRC Daily Status · EIA-860
🗺️
US Nuclear Infrastructure Map
All 93 operating units + conversion & enrichment facility locations. Interactive layers. Sized by GWe, colored by license urgency.
FreeNRC · DOE · EIA
⚖️
Retirement & New Build
31,500 MWe SLR pipeline. TMI-1 restart NRC-approved (~835 MWe online ~2025). Canada CANDU ~4M lbs/yr secured to 2055–2064. Palisades 2027–2028.
ProEIA-860 · NRC
🔄
Fleet Refueling Calendar
24-month outage calendar. 14 outages 2026–27. 10.6M lbs 2026 reload demand. Per-plant inventory coverage.
ProEIA-923 Sch3+4
International NRA Japan · IAEA PRIS · NEA
🇯🇵
Japan Restart Tracker
15 operating (KK-6 Apr 2026). 2 approved pending restart. 27 operable units, per-unit NRA status. KK-7 catalyst watch.
PreviewFull: ProNRA Japan
⚠️
KAP Shortfall & Global Balance
162M lbs phantom supply 2018–2026. KAP 15M lbs/yr below original plan. Structural deficit peaks -16M lbs by 2030. Spot float: ~29M lbs vs 30M uncovered demand.
PreviewFull: ProKAP IR · WNA · IAEA
🇨🇳
China Demand Model
~67 operating, ~24 under construction. ~48M lbs/yr now (surpassed US in 2025) → 76M lbs/yr by 2035. Bear/base/bull scenarios.
ProIAEA PRIS · NEA
🏗️
Global New Build Pipeline
59 units under construction. 66.5 GWe. 27M lbs/yr incremental demand. China 44% of UC.
ProIAEA PRIS
Conversion, Enrichment & Advanced Reactors DOE · EIA · NRC · Urenco · Orano · Centrus · BWXT
🔬
Conversion & Enrichment Overview
The PURA cliff, SWU gap, and 2028 enrichment crunch explained. SWU supply/demand charts free. Year-by-year breakdown, $7B subsidy tracker, enricher profiles & UF₆ conversion deep-dive require Pro.
PreviewDOE · EIA · Urenco · CentrusFull: Pro
⚙️
Conversion Spot vs. Term Price Tracker
UF₆ spot $69/kgU vs. LT $53.50 → +$15.50 spread. Dec 2024 spike to $97. Solstice, Cameco, Orano capacity table. Re-contracting signal: WATCH.
PreviewUxC · TradeTech · CamecoFull: Pro
⚡
Western SWU Gap — Enrichment Supply vs. Demand 2026–2030
Rosatom 44% global SWU share, PURA-banned 2028. 3–4 yr western gap window. $188/SWU spot, $97.66/SWU LT avg. Urenco +2.5M SWU expansion. Centrus binary option. Enricher profiles: Urenco, Orano, Centrus, Rosatom, CNNC.
PreviewEIA · Urenco · Orano · CentrusFull: Pro
⚛️
HALEU Fuel Intelligence Brief
900 kg/yr Centrus HALEU. Urenco USA only western commercial enricher. Metropolis Works sold out through 2028. Russian ban Jan 2028. Full supply-chain bottleneck analysis.
PreviewDOE · NRC · CentrusFull: Pro
🏭
SMR Supply Chain — Manufacturing Readiness
8 US SMR designs mapped against component bottlenecks. N-stamp welder hiring signals, RPV forging slots, TRISO sole-source risk. BWXT readiness leader. BWRX-300 clearest commercial path.
PreviewDOE · NRC · BLS · SECFull: Pro
Bonus Section: Uranium Equities Cameco MD&A · SEC 10-K · Bloomberg
📅
Catalyst Calendar
16 dated events 2026–2027. 90-day countdown. Section 232, DOE Reserve, NRA milestones.
ProMulti-source
🔬
Uranium Producer Screen
CCJ, NXE, DNN, UEC, UUUU, EU, PALAF scored across resource quality, stage, cost structure, and valuation. Normalized EV/lb ranking.
ProSEC · CNSC
📉
Producer P&L Sensitivity
Margin and free cash flow at $70 / $85 / $100 / $120/lb U3O8. Who breaks even, who prints cash, who needs a bailout at each price.
ProSEC 10-K · MD&A
📈
Term Price vs. Spot Spread Monitor
UxC LT term $91.50/lb vs spot $85.60/lb → −$5.90 spread. Historical inversions 2003–2026. Re-contracting signal: ACTIVE.
ProUxC · Cameco MD&A
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US Nuclear Infrastructure Map → Nuclear Generation & CF Tracker → US Quarterly Mine Production → US Annual Mine Production → US Demand Model →
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Conversion & Enrichment Overview → Conversion Spot vs. Term Tracker → Western SWU Gap → HALEU Fuel Intelligence Brief → SMR Supply Chain →
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  • +Nuclear Generation & CF Tracker — 91.9% fleet CF (2025), per-plant ranking, monthly pulse, demand sensitivity
  • +US Quarterly Mine Production — Q4 2025 record 1,043K lbs. White Mesa, Willow Creek, Alta Mesa. 5-quarter trend, facility-by-facility
  • +US Annual Mine Production — 2025: 2.16M lbs (+229% YoY). 9 facilities. White Mesa 47%, Alta Mesa 28%, Lost Creek 19%. Historical 2015–2025
  • +US Demand Model — 40M lbs/yr market demand. Per-plant, per-month EIA-923 data. Forward projections through license expiry. 94 units
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Uranium Supply & Sources
+Supply Origin
+Global S/D Balance
+US Production vs Consumption
+Delivered Cost Tracker
Utility Demand & Contracting
+Utility Coverage (full)
+Lifetime Demand Backlog
+Contract Gap Model
+Utility Procurement Profiles
+Contracting Intelligence
+Utility Uranium Inventory
Electricity & Economics
+Nuclear Fuel Cost per MWh
+Nuclear Carbon Intensity
+FERC Form 1 — Fuel Expense
+State ZEC Tracker
+Nuclear Share by Region
Fleet & Infrastructure
+US Nuclear Fleet Map
+Fleet Refueling Calendar
+Retirement & New Build Balance
+Uranium Demand Backlog
International
+China Demand Model
+Global New Build Pipeline
Conversion, Enrichment & Advanced Reactors
+Conversion & Enrichment Overview
+Conversion Spot vs. Term Tracker
+Western SWU Gap 2026–2030
+HALEU Fuel Intelligence Brief
+SMR Supply Chain
Bonus: Uranium Equities
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EIA, NRC, IAEA, Kazatomprom IR, NRA Japan, CNSC where available. No licensed data feeds, no proprietary estimates dressed up as data.
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FAQ

Common questions.

Almost everything is built from sovereign government data — EIA, NRC, IAEA, Kazatomprom filings, NRA Japan. No licensed data feeds, no newsletter opinion. The EIA publishes incredibly detailed nuclear fuel data (EIA-923 Schedule 2 shows the actual delivered price every US utility paid for uranium, per plant, per month) that almost nobody processes. This organizes that data so you can read it in 60 seconds instead of parsing 400-row spreadsheets.
Reports sourced directly from government databases (EIA-923, EIA-858, NRC ADAMS, IAEA PRIS) are as accurate as the underlying government release. Analyst-derived estimates — inventory exhaustion dates, the forced-buy trigger year — are clearly labeled as model outputs, not audited figures. Every estimate has a cited source and visible methodology. Treat government-sourced reports as reliable data; treat model outputs as directional frameworks for forming a thesis.
Reports update when the underlying government source publishes new data. EIA-923 (monthly generation) releases on a 2-month lag — fleet demand updates monthly. EIA-858 (Uranium Marketing Annual Report) is annual — supply origin updates once per year. NRC Daily Power Reactor Status updates every business day — capacity factors update continuously. The Catalyst Calendar countdown updates automatically. Every report shows a "last updated" date.
Pro unlocks the full report suite: US Demand Model, Lifetime Backlog, Nuclear Share by Region, Uncovered Position, Contract Gap, Utility Coverage Tracker, Global Supply/Demand Balance, Supply Origin, US Production vs Consumption, Utility Procurement Profiles, Conversion/UF6, Retirement & New Build Balance, Delivered Cost Tracker, Fleet Refueling Calendar, China Demand Model, Japan Restart Tracker (detailed), Global New Build Pipeline, Enrichment & Subsidies, Re-contracting Signal, Catalyst Calendar, Term Spread Monitor, Contracting Intelligence, plus all future reports as they ship.
No. uranium-edge provides data analysis and market models for informational and educational purposes only. Nothing on this platform constitutes investment advice or a recommendation to buy or sell any security. All investment decisions are your own.