The price American utilities pay for uranium to fuel their nuclear reactors has climbed sharply over the past four years, according to the U.S. Energy Information Administration's Uranium Marketing Annual Report. The weighted-average price paid by owners and operators of U.S. civilian nuclear power reactors reached 58.46 dollars per pound of U3O8 equivalent in 2025, up from 52.71 dollars per pound in 2024.

That marks a 72 percent increase from the 33.91 dollars per pound utilities paid in 2021, when uranium prices sat near a decade-long low. The climb has been driven in part by tighter global supply, renewed reactor demand, and a push by utilities and the federal government to reduce reliance on foreign enrichment services.

Spot market prices, which reflect one-time deliveries within a year of a signed contract, moved even more sharply, averaging 75.83 dollars per pound in 2025. Long-term contract prices, which are typically signed years in advance and delivered over extended periods, averaged 55.91 dollars per pound the same year. Long-term prices have historically run below spot prices, but the gap has widened as utilities compete for near-term supply.

The pricing data covers uranium purchased from both domestic and foreign suppliers under spot and long-term agreements. Rising fuel costs are one factor utilities weigh alongside operating and construction expenses as they plan investments in existing reactors and new nuclear projects.

Source: U.S. Energy Information Administration - https://www.eia.gov/uranium/marketing/summarytable1b.php