US Uranium Demand Model

103.8 GW

US Nuclear Fleet (2025)

785 TWh

2025 Net Generation

40M lbs

U3O8 Mkt Demand 2025

92.4%

CF model assumption (2024 actual; 2025 actual = 91.9%)

0.0689

lbs U3O8/MWh -- natural U3O8 equiv.

📊 Monthly US Nuclear Generation — 2024 vs 2025

TWh = terawatt-hours net generation. Dips indicate refueling outages. Each 1 TWh = 68,900 lbs U3O8 (natural U3O8 equiv., EIA MER Table 8.2).

⚡ Generation & Demand by NERC Region

SERC

45.8 GW

42 units

340 TWh

2025 generation

23.4M lbs

U3O8 mkt demand

43.2%

of US nuclear

RFC

33.6 GW

30 units

262.0 TWh

2025 generation

18.1M lbs

U3O8 mkt demand

33.4%

of US nuclear

WECC

7.7 GW

6 units

56.6 TWh

2025 generation

3.9M lbs

U3O8 mkt demand

7.2%

of US nuclear

NPCC

6.9 GW

7 units

56.0 TWh

2025 generation

3.9M lbs

U3O8 mkt demand

7.1%

of US nuclear

TRE

5.7 GW

4 units

41.6 TWh

2025 generation

2.9M lbs

U3O8 mkt demand

5.3%

of US nuclear

MRO

3.9 GW

5 units

29.4 TWh

2025 generation

2.0M lbs

U3O8 mkt demand

3.7%

of US nuclear

🏭 U3O8 Demand by Utility (FY2025)

Operator	ST	NERC	Units	GW	TWh	U3O8 M lbs	CF%
Constellation Nuclear	NY	NPCC	21	22.89	182.3	12.56	90.9%
Duke Energy Carolinas, LLC	NC	SERC	7	7.65	61.3	4.22	91.6%
Tennessee Valley Authority	TN	SERC	7	8.84	59.1	4.07	76.3%
Georgia Power Co	GA	SERC	6	6.68	51.2	3.53	87.6%
Energy Harbor Nuclear Generation LLC	OH	RFC	4	4.19	32.2	2.22	87.8%
Arizona Public Service Co	AZ	WECC	3	4.14	31.3	2.16	86.4%
Florida Power & Light Co	FL	SERC	4	4.02	30.6	2.11	86.9%
Duke Energy Progress - (NC)	NC	SERC	4	3.83	30.3	2.09	90.2%
Virginia Electric & Power Co	VA	SERC	4	3.83	28.2	1.94	84.1%
PSEG Nuclear LLC	NJ	RFC	3	3.69	27.9	1.93	86.3%
STP Nuclear Operating Co	TX	TRE	2	2.76	21.8	1.50	90.1%
Luminant Generation Company LLC	TX	TRE	2	2.95	19.8	1.36	76.8%
TalenEnergy Susquehanna LLC	PA	RFC	2	2.62	18.6	1.28	80.9%
Indiana Michigan Power Co	MI	RFC	2	2.38	17.6	1.21	84.4%
Pacific Gas & Electric Co.	CA	WECC	2	2.35	17.6	1.21	85.4%
Dominion Energy Nuclear Conn Inc	CT	NPCC	2	2.18	16.7	1.15	87.5%
Entergy Louisiana LLC	LA	SERC	2	2.19	15.3	1.05	79.6%
Entergy Arkansas LLC	AR	SERC	2	1.95	15.2	1.05	88.8%
Northern States Power Co - Minnesota	MN	MRO	3	1.83	13.2	0.91	82.5%
Alabama Power Co	AL	SERC	2	1.89	13.0	0.90	78.6%
System Energy Resources, Inc	MS	SERC	1	1.46	11.5	0.79	89.6%
NextEra Energy Seabrook LLC	NH	NPCC	1	1.29	10.9	0.76	96.8%
NextEra Energy Point Beach LLC	WI	RFC	2	1.25	10.2	0.70	93.3%
DTE Electric Company	MI	RFC	1	1.19	9.9	0.69	95.2%
Wolf Creek Nuclear Optg Corp	KS	MRO	1	1.26	9.3	0.63	83.7%
Dominion Energy South Carolina, Inc	SC	SERC	1	1.05	8.1	0.56	88.3%
Energy Northwest (Columbia)	WA	WECC	1	1.19	7.8	0.54	74.2%
Union Electric Co - (MO)	MO	SERC	1	1.29	7.1	0.50	63.1%
Nebraska Public Power District	NE	MRO	1	0.83	6.9	0.48	95.0%

🌍 Global Supply / Demand Context

Category	M lbs U3O8
US demand (2025)	40M lbs
China (operating)	58.0M lbs
Europe (EU+UK)	45.0M lbs
Russia	20.0M lbs
South Korea	18.0M lbs
Japan (partial restart)	10.0M lbs
Rest of world	25.0M lbs
Global mine supply (2024E)	145.0M lbs
Supply deficit (2024E)	85.1M lbs

📅 US Demand Forward Projection

U3O8 column uses natural uranium equivalent loaded into reactors (0.0689 lbs/MWh). Market procurement demand (~40M lbs/yr) is lower due to secondary supply and enrichment tails optimization.

Year	Fleet GW	Changes	TWh	U3O8
2025	104.6	+0.8 GW Palisades	791.7	54.5M
2026	104.6	—	791.7	54.5M
2027	104.6	—	791.7	54.5M
2028	104.6	—	791.7	54.5M
2029	104.6	—	791.7	54.5M
2030	102.4	−1.1 GW Diablo Canyon 1−1.1 GW Diablo Canyon 2	774.7	53.4M
2031	102.4	—	774.7	53.4M