Nuclear Fuel Security Act of 2023

The Nuclear Fuel Security Act of 2023 establishes three key programs to increase domestic production of nuclear fuel, specifically high-assay, low-enriched uranium (HALEU) and low-enriched uranium (LEU), to support advanced nuclear reactor development. The Department of Energy must establish a Nuclear Fuel Security Program to boost domestic production, expand the American Assured Fuel Supply Program to maintain uranium reserves for supply disruptions, and create a dedicated HALEU for Advanced Nuclear Reactor Demonstration Projects Program. This program requires the Department to make specific quantities of HALEU available to reactor developers by set deadlines (3 metric tons by 2024, 8 more by 2025, and 10 more by 2026). The bill directs the Department to prioritize domestic uranium production where possible or partner with allied countries when domestic options aren't available, while ensuring reasonable compensation for fuel provided and avoiding market disruption.