The cost of nuclear fuel has increased significantly in the past two years as the uranium conversion and enrichment bottleneck – driven primarily by the Russian invasion of Ukraine – continues to impact supply chains.

According to data quoted by the Financial Times from nuclear market research company UxC, prices for converted uranium hexafluoride have jumped fourfold to $68/kg since the beginning of 2022, while enriched uranium prices have more than tripled to $176 per separative work unit.

In contrast, the price of raw uranium ore has only doubled during this period, highlighting the conversion and enrichment stages’ influence on the fuel’s price increase.