Publication Laka-library:
Annual report and accounts 2021
| Author | Urenco |
 |
1-01-8-30-71.pdf |
| Date | March 2022 |
| Classification | 1.01.8.30/71 (URENCO/UCN ALMELO - GENERAL) |
| Front |
From the publication:
Annual report and accounts 2021. Delivering for a net zero world Urenco Urenco has continued its strong performance, with notable achievements despite the ongoing disruption caused by COVID-19 and challenges in the enrichment market. We continued to hit our sales targets, achieving levels that support reinvestment in capacity. We also focused on developing positive relationships with a wide variety of stakeholdersto enable us to play our role in making a contribution to individual countries’ net zero goals. This is all thanks to the skills and enthusiasm of our employees and the strength of our business partnerships. On behalf of the Board I thank everyone for their contributions in 2021. Global enrichment market Nuclear remains the second largest source of low carbon energy used today. It does and should continue to play an important role in the energy transition. Achieving sustainable energy and meeting ambitious climate targets will be much harder without existing nuclear power and investment in new nuclear. We are confident of the long term prospects of nuclear energy, with a significant pipeline of new reactors planned worldwide. We are expecting to see new and different types of nuclear technologies come to market, and we are prepared to play our part in ensuring that enriched uranium is available as an essential source of fuel. We have security in our core business through the long term visibility of our order book. The market price for enrichment has increased further in 2021 with spot prices at $56 per SWU at the end of 2021 from August 2018’s low point of $34 per SWU (page 26). This is encouraging and will help toward facilitating the reinvestment in existing enrichment facilities, while also supporting the responsible management of depleted uranium and the eventual dismantling and decommissioning of our plants.