Nuclear Utilities Shift Focus to Long-Term Uranium Contracts Amid Rising Demand

Utilities are prioritizing security of supply over spot exposure, accepting higher incentive prices and longer durations for uranium contracts. This shift comes in the context of drawn-down government and utility inventories, strong sovereign demand, and growing electricity requirements for generative AI and data centers. The U.S. government is stimulating this supply chain by partnering with Brookfield and Cameco to support the deployment of the Westinghouse AP1000 reactors. The Range Nuclear Renaissance ETF (NUKZ) tracks the VettaFi Nuclear Renaissance Index, providing exposure to companies involved in the nuclear renaissance.