USEC OFFICIALS MEET WITH MONIZ, PONEMAN ON ACP FUTURE

As questions remain on funding for the company’s American Centrifuge Plant, USEC officials met recently with Energy Secretary Ernest Moniz and Deputy Secretary Dan Poneman to discuss options for supporting ACP beyond the current RD&D effort. USEC provided updates on a research, development and deployment cost-share program that aims to demonstrate ACP on a commercial scale. The program, which started in June 2012, is in its final stretch, set for completion by the end of the year. At that point, USEC has said it hopes to attract additional private investors and receive a $2 billion DOE loan guarantee, but both those paths appear unlikely in the near term and discussions with DOE are believed to have focused on options for additonal ACP funding on the basis of national security. While DOE confirmed the meeting with Moniz took place, it did not provide details on topics discussed. USEC declined to comment on the meeting with Moniz.  

Meanwhile, USEC is still awaiting funding for the last three months of the program. In its FY14 budget request, DOE asked for $48 million in transfer authority to complete the program. Additionally, a National Nuclear Security Administration reprogramming request awaiting Congressional approval would boost funds by $11.7 million for the USEC program. The company has enough funds on hand to keep the program running until October 15, but the program would be severely impacted if Congress doesn’t provide funds by then. “We’re down to the five-yard line, let’s push the ball across the goal,” USEC spokesman Paul Jacobson said. “We’ve got most of the RD&D program done and it’s very successful and hit all the marks. Let’s get the four remaining milestones accomplished. Otherwise the whole program could be considered for naught.”