The Tennessee Valley Authority will spend up to $750 million over the next 15 years on uranium supply agreements to help the utility diversify its supply of nuclear fuel for its reactors in Tennessee and Alabama.
TVA directors Friday approved a $500 million contract with American Centrifuge Enrichment LLC to enrich uranium from 2016 to 2025 and a contract for up to $250 million for Cameo Inc. to supply uranium hexafluoride from 2017 to 2021.
"With these contracts, we would have a diverse set of suppliers during this period," TVA Chief Operating Officer Bill McCollum said.