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- W2257528087 abstract "In an effort to renew the United States' competitiveness in the world market for uranium enrichment services, the Department of Energy (DOE) is turning over control of its Paducah, KY, and Portsmouth, OH, enrichment facilities to a for-profit organization, the United States Enrichment Corp. (USEC), which was created by last year's Energy Policy Act. William H. Timbers, Jr., a former investment banker who was appointed acting CEO in March, said the Act's mandate will mean more competitive prices for enriched reactor fuel and greater responsiveness to utility customers. As a government corporation, USEC, with current annual revenues estimated at $1.5 billion, will no longer be part of the federal budget appropriations process, but will use business management techniques, set market-based prices for enriched uranium, and pay annual dividends to the US Treasury-its sole stockholder-from earnings. The goal is to finish privatizing the corporation within two years, and to sell its stock to investors for an estimated $1 to $3 billion. USEC's success will depend in part on developing short- and long-term marketing plants to help stanch the flow of enriched-uranium customers to foreign suppliers. (DOE already has received notice from a number of US utilities that they want to bemore » let out of their long-term enrichment contracts as they expire over the next several years).USEC's plans likely will include exploring new joint ventures with other businesses in the nuclear fuel cycle-such as suppliers, fabricators, and converters-and offering a broader range of enrichment services than DOE provided. The corporation will have to be responsive to utilities on an individual basis.« less" @default.
- W2257528087 created "2016-06-24" @default.
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- W2257528087 date "1993-07-15" @default.
- W2257528087 modified "2023-09-28" @default.
- W2257528087 title "DOE hands over uranium enrichment duties to government corporation" @default.
- W2257528087 hasPublicationYear "1993" @default.
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