The European Union reduces its dependency on nuclear fuel supply from Russia
Euratom Supply Agency published an annual report for 2024 that provides evidence of reduced dependency of European utilities on nuclear fuel supplies from Russia.
Natural uranium, conversion, and enrichment services
Euratom Supply Agency reported a decrease in quantity and market share of Russian nuclear fuel supply to the European market in 2024.
In 2024, Russia supplied 2185 tU of natural uranium, down 36% from 3419tU in 2023. Russia’s market share decreased from 23,45% to 15,63%. Russia is now in third place following Canada and Kazakhstan.
Despite the decrease, Rosatom remained the single largest conversion service provider to the EU with 22,37% of the market (down from 25,51% in 2023), narrowly ahead of ConverDyn (US) at 21.78% and Orano (EU) at 21.34%. Rosatom converted 2977 tU, 16% less than 3543 tU in 2023.
Russian uranium enrichment services demonstrated the most substantial drop. Russia provided 2450 tSW in 2024, 47% less than 4647 tSW in 2023. Russia’s market share dropped from 37,90% in 2023 to 23,5% in 2023.
Supplies from Russia surged in 2023 as a result of European utilities’ stockpiling efforts aimed at creating a fresh fuel reserve until alternative fuel is available and licensed.
Fuel assemblies supply diversification
There are five countries in the European Union operating Russian-design VVER reactors – Bulgaria, the Czech Republic, Finland, Hungary, and Slovakia. All of them made some steps toward replacing fuel assemblies of Russian design or at least maintaining diversification options.
Bulgaria and Finland are the most advanced – the first batches of Westinghouse fuel were loaded in Bulgaria’s Kozloduy NPP unit 5 VVER-1000 in May 2024 and Finland’s VVER-440 at Loviisa NPP in August 2024.
The Czech Republic and Slovakia are in the process of licensing Westinghouse fuel.
Hungary, while planning to continue buying the Russian fuel for Paks NPP, is involved, together with other countries, in the qualification of Framatome-design fuel for VVER reactors.