Nuclear operators say uranium tariffs could cost up to $800M/year

|By:, SA News Editor

A 25% tariff on uranium imports sought by U.S. uranium miners would increase costs for nuclear power generators by $500M-$800M a year, a coalition of nuclear operators including subsidiaries of Exelon (EXC -0.8%), NextEra Energy (NEE -0.3%), Duke Energy (DUK -0.6%) and Dominion Energy (D -0.4%) say in filings to the U.S. Commerce Department.

“Additional financial pressure from import adjustments would have disastrous effects on the viability of many of the remaining reactors," the companies say.

The Commerce Department is considering a request by U.S. miners Energy Fuels (UUUU -1.2%) and Ur-Energy (URG +1.2%) for quotas on grounds that uranium imports threaten national security.

ETFs: XLU, URA, UTG, VPU, GUT, IDU, BUI, NLR, FUTY, RYU, UPW, FXU, SDP, FUGAX, JHMU

Source: Bloomberg First Word

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This was corrected on 10/01/2018 at 03:54 PM. The headline has been corrected to read "up to $800M/year," after an original post saying $800B (as in billion) was sent in error.