🏭 Utility Uranium Procurement Profiles

Fleet: Braidwood 1&2 (IL), Byron 1&2 (IL), Clinton (IL), Dresden 2&3 (IL), LaSalle 1&2 (IL), Quad Cities 1&2 (IL), Calvert Cliffs 1&2 (MD), Peach Bottom 2&3 (PA, shared with PSEG), Limerick 1&2 (PA), Three Mile Island 1 (PA — restarting 2028 under Microsoft deal), Salem 1&2 (NJ, shared with PSEG), Hope Creek (NJ, shared with PSEG), Nine Mile Point 1&2 (NY), FitzPatrick (NY), Ginna (NY)

Procurement: Constellation is the single largest uranium buyer in the United States — consuming more than all of France. Long-term contracts underpin most procurement; spot exposure is limited. Westinghouse fuel fabrication is the primary fuel fabricator for most Constellation PWRs.

Fleet: Catawba 1&2 (SC), McGuire 1&2 (NC), Oconee 1, 2 &3 (SC), Robinson (SC), Harris (NC), Brunswick 1&2 (NC)

Procurement: Duke operates the largest nuclear fleet in the Southeast. All plants are regulated — uranium cost recovery passes through to ratepayers. Duke's fuel procurement team is among the most sophisticated in the US, historically contracting 5–8 years forward. Oconee units are approaching SLR territory.

Fleet: Browns Ferry 1, 2 &3 (AL), Sequoyah 1&2 (TN), Watts Bar 1&2 (TN)

Procurement: TVA as a federal utility procures uranium through publicly disclosed competitive bid processes. TVA's procurement is a useful public benchmark for pricing. TVA has also been awarded DOE HALEU production contracts for advanced reactor fuel development. All seven units are GE BWR or Westinghouse PWR designs.

Fleet: Vogtle 1&2 (GA — original AP600 era), Vogtle 3&4 (GA — AP1000, online 2023 and 2024)

Procurement: Demand grew 90% overnight when Vogtle 3&4 came online. Southern now consumes ~2M lbs/yr vs ~1M lbs before. AP1000 reactors use Westinghouse fuel assemblies (16x16 PWR). Vogtle 3&4 procurement contracts were structured during construction — existing coverage is known through ~2030. First new US procurement need for two AP1000 units now a live market event.

Fleet: North Anna 1&2 (VA), Surry 1&2 (VA), Millstone 2&3 (CT — ~40% of CT's electricity)

Procurement: Dominion sold Millstone in 2001 and reacquired in 2001 — still the dominant New England baseload source. North Anna and Surry both have SLR applications pending — a combined 80-year license would add ~20M additional lbs of lifetime demand per unit. Millstone is critical to Connecticut grid stability.

Fleet: Turkey Point 3&4 (FL — first SLR granted, 80-yr license), St. Lucie 1&2 (FL), Seabrook (NH — sole New Hampshire source, 1.3 GWe)

Procurement: Turkey Point 3&4 were the first US plants to receive subsequent license renewals (80 years), setting precedent for the rest of the fleet. Seabrook provides ~47% of New Hampshire's electricity — grid-critical. NextEra is also the largest US wind and solar operator; uniquely positioned on nuclear economics vs renewables.

Fleet: Salem 1&2 (NJ — co-owned with Constellation), Hope Creek (NJ)

Procurement: PSEG co-owns Salem with Constellation but operates it independently. Three New Jersey plants provide ~35% of the state's electricity. PSEG received NJ Zero Emissions Certificate (ZEC) support — first state to explicitly subsidize nuclear for clean energy value. ZEC support model has since been adopted by IL, NY, and CT.

Fleet: Prairie Island 1&2 (MN), Monticello (MN — controversial life extension approved through 2040)

Procurement: Xcel provides ~25% of Minnesota's electricity from nuclear. Monticello's life extension to 2040 was contested by state regulators but approved by the NRC. Prairie Island operates under dry cask storage agreements with the Prairie Island Indian Community — an unusual co-management arrangement. Xcel also operates Colorado's nuclear-free grid.

Fleet: Diablo Canyon 1&2 (CA — 2.3 GWe, California's largest single power plant)

Procurement: Diablo Canyon was scheduled to retire in 2024–2025 before Governor Newsom reversed course in 2022 with DOE loan support. The NRC extended the operating license through 2045. PG&E must now procure fuel for ~20 more years — a procurement need that effectively did not exist in forward planning 3 years ago. This is ~18M lbs of incremental demand that wasn't in any market forecast pre-2022.

Fleet: Susquehanna Steam Electric Station Units 1&2 (PA) — two GE BWR/4 units, 1,253 MWe each, licensed through 2042 and 2044. One of the highest-output BWR stations in the US.

Procurement: Talen is a competitive merchant generator — uranium costs are not passed through to ratepayers; they come directly out of operating margin. This makes Talen acutely sensitive to both uranium price and power price simultaneously. Talen filed Chapter 11 in May 2022 (energy market volatility + debt load) and emerged restructured in May 2023. Key catalyst: Talen signed a landmark agreement with Amazon Web Services in 2023 to sell the Susquehanna campus and provide direct nuclear power to an on-site AWS data center — the first nuclear-to-data-center co-location deal in the US. FERC initially rejected it (March 2024), citing grid reliability concerns, but the case set the template for the entire industry. The deal and its regulatory treatment will define how nuclear + hyperscaler co-location is regulated going forward.

Fleet: Comanche Peak Nuclear Power Plant Units 1&2 (Glen Rose, TX) — two Westinghouse PWR units, 1,215 MWe each. Operated by Luminant (Vistra subsidiary). Licensed through 2030 (Unit 1) and 2033 (Unit 2); both have submitted license renewal applications for 20-year extensions through 2050 and 2053.

Procurement: Vistra (formerly Luminant, formerly TXU) operates entirely within ERCOT, the Texas grid which is electrically isolated from the rest of the US. Comanche Peak is one of only two nuclear plants in Texas and provides ~10% of ERCOT's nuclear generation (alongside NRG's South Texas Project). As a merchant generator, Vistra's nuclear economics are tied to ERCOT power prices — which have been volatile since the February 2021 winter storm. Vistra is also the largest US battery storage operator and has a large gas and solar portfolio, making Comanche Peak a smaller portion of its business than for pure-play nuclear operators. License renewal for both units is active — outcome determines ~40 additional years of uranium demand (~800K lbs/yr per unit through the 2050s).