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Federal Register / Vol. 86, No. 145 / Monday, August 2, 2021 / Notices
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Mutual Defense Agreement that references special nuclear material would be excluded from the zero quota on imports of uranium.
Imports of uranium from Russia under a waiver would also be governed by the Russian Suspension Agreement. This option assumes that such agreement will continue to be in effect over the relevant time period and would apply to any Russian uranium imports by U.S.
nuclear power utilities, thus holding Russian uranium imports to their current level of approximately 20
percent of U.S. enrichment demand. In the event that the Russian Suspension Agreement is not extended and terminates, then the Secretary recommends that a quota on uranium imports under a waiver of Russian Uranium Products as defined in the Russian Suspension Agreement of up to 15 percent of U.S. enrichment demand be imposed. If adopted this quota would be administered by the Department in the same manner as the Russian Suspension Agreement is presently administered.
The adjustment of imports proposed under this option would be in addition to any applicable antidumping or countervailing duties collections.
To complement the proposed trade action, the Secretary recommends that the Federal Energy Regulatory Commission FERC act promptly to ensure that regulated wholesale power market regulations adequately compensate nuclear and other fuelsecure generation resources.
Specifically, FERC should determine whether current market rules, which discriminate against secure nuclear fuel generation resources in favor of intermittent resources, such as natural gas, solar, and wind, result in unjust, unreasonable, and unduly discriminatory rates that distort energy markets, harm consumers, and undermine electric reliability. If so,
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FERC should consider taking appropriate action to ensure that rates are just and reasonable.
The Department of Commerce, in consultation with other appropriate departments and agencies, will monitor the status of the U.S. uranium industry and the effectiveness of this remedy to determine if it should be modified, extended, or terminated.
Option 3Alternative Action Should the President determine that the threatened impairment of national security does not warrant immediate adjustment of uranium imports at this time but that alternative action should be taken to improve the condition of the U.S. uranium industry to enable the U.S. industry to supply 25 percent of U.S nuclear power utilities annual consumption of uranium U308
concentrate, the President could direct the Department of Defense DOD and the Department of Energy DOE to report to the President within 90 days on options for increasing the economic viability of the domestic uranium mining industry. The report should include, but not be limited to, recommendations for: 1 The elimination of regulatory constraints on domestic producers; 2 incentives for increasing investment; and 3 ways to work with likeminded allies to address unfair trade practices by SOE countries, including through trade remedy actions and the negotiation of new rules and best practices. The President could also direct the United States Trade Representative to enter into negotiations with the SOE countries to address the causes of excess uranium imports that threaten the national security.
To complement the proposed alternative action, the Secretary recommends that the Federal Energy Regulatory Commission FERC act promptly to ensure that regulated wholesale power market regulations adequately compensate nuclear and
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other fuel-secure generation resources.
Specifically, FERC should determine whether current market rules, which discriminate against secure nuclear fuel generation resources in favor of intermittent resources, such as natural gas, solar, and wind, result in unjust, unreasonable, and unduly discriminatory rates that distort energy markets, harm consumers, and undermine electric reliability. If so, FERC should consider taking appropriate action to ensure that rates are just and reasonable.
The Department of Commerce, in consultation with other appropriate departments and agencies, will monitor the status of the U.S. uranium industry and the effectiveness of this remedy and recommend to the President if any additional measures are needed.
Alternatively, the Secretary may initiate another investigation under Section 232.
B. Economic Impact of 25 Percent U.S.Origin Requirement The Department analyzed the economic impact of a 25 percent U.S.origin uranium concentrate requirement on the U.S. uranium mining industry as well as U.S. nuclear power utilities. The Departments analysis and modeling indicates that U.S. uranium mining and milling will substantially benefit from the 25 percent U.S.-origin uranium concentrate requirement and will return to an economically competitive and financially viable industry. U.S. nuclear power utilities will experience only marginal increases in fuel costs and slight decreases in revenue due to usage of U.S.-origin uranium concentrate for 25 percent of their fuel supply.
The Departments analysis indicates if Option 1 or 2 is implemented, U.S.
uranium producers between 2020 and 2024 will see a substantial increase in their production compared to the projected 2019 level of 331,000 pounds U3O8 equivalent see Figure 72.

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