Areva signs $500 million nuclear fuel supply contract with Xcel Energy

The nearly $500 million contract covers uranium, conversion, enrichment, nuclear fuel design, fabrication and related engineering services

Bethesda, Md., January 4, 2012 — Areva signed a fuel and related services contract with Xcel Energy in the U.S. to supply Monticello Nuclear Generating Plant located near Monticello, Minn.

The nearly $500 million contract covers uranium, conversion, enrichment, nuclear fuel design, fabrication and related engineering services. It is the first such award by a U.S. nuclear utility to a fuel supplier in several decades.

Under the agreement, Areva will provide six fuel reloads which corresponds to a decade of fuel supply, with deliveries beginning in 2015. The contract includes transition of the Monticello plant to use Areva's Atrium 10XM boiling water reactor fuel. This will be the first time that Xcel Energy will use Areva fuel in its plants.

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