The United States Enrichment Corporation (USEC) announced Friday it will shut down its Paducah gaseous diffusion plant, a Cold War-era uranium enrichment facility, in Paducah, Kentucky. Operating since 1952, the Paducah plant is the last remaining gaseous diffusion uranium enrichment facility in the world. It’s no surprise it’s closing its door, because the plant relies on outdated, inefficient technology which requires substantially more power to enrich uranium compared to its competitors.
The Department of Energy (DOE) owns the Paducah facility which was leased to USEC in 1998 and the company has operated since 1999. For years, DOE has handed over tens of millions worth of uranium to USEC and assumed millions more in depleted uranium liabilities in order to boost USEC’s bottom line. Yet, over the past few years, the value and credit rating of USEC has plummeted leaving taxpayers further in debt with nothing to show for it. The closing of the Paducah gaseous diffusion plant is one more sign that USEC is in major financial trouble and the Department of Energy should avoid handing over any additional taxpayer money.
For more information, please contact Autumn Hanna at 202-546-8500 x112
or autumn <at> taxpayer.net.
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