USEC begins operations as a government corporation as it completes the transition from the U.S. Department of Energy (DOE).

The first shipments of Russian uranium under the Megatons to Megawatts program arrive at the Portsmouth Gaseous Diffusion Plant in Piketon, Ohio.

The U.S. Nuclear Regulatory Commission certified USEC's Paducah and Portsmouth Gaseous Diffusion Plants, marking the transition from regulation by DOE to the NRC.

USEC is privatized through an initial public offering of 100,000,000 shares of stock on the New York Stock Exchange and begins trading under the symbol USU.

USEC, UT-Battelle and the U.S. Department of Energy sign an initial cooperative agreement on U.S. centrifuge development.  Over the next year, USEC and UT-Battelle perform cooperative research in three key areas: design of key centrifuge components, refurbishment and restart of facilities to manufacture and test centrifuge components and planning for the potential deployment and operation of a centrifuge enrichment plant.

The U.S. Department of Commerce issues a final determination in its trade case investigation of imports of enriched uranium from Europe, finding dumping and unfair subsidization by USEC’s European competitors. It subsequently imposed import tariffs on the material coming into the United States.

The U.S. and Russian governments approve implementation of the contract amendment for the remaining 12 years of the program. The new, market-based pricing terms will go into effect in January 2003.

USEC announced that it would site its American Centrifuge Demonstration Facility at its Portsmouth plant in Piketon, Ohio.

USEC and TENEX mark the 10th anniversary of commercial implementation of the Megatons to Megawatts program and announce the elimination of bomb material equivalent to 8,000 warheads. The companies also issue a Joint Statement.

The U.S. Nuclear Regulatory Commission issued a license that authorizes USEC to construct and operate its American Centrifuge Demonstration Facility.

USEC began testing a full-size centrifuge machine at its K-1600 facility in Oak Ridge.

USEC signed agreements with DOE for the long-term use of the American Centrifuge Plant facilities in Piketon, Ohio and for the gas centrifuge technology license for the U.S. centrifuge technology.

USEC and Fluor began construction on the commercial plant infrastructure for the American Centrifuge Plant.

USEC completes a public offering of common stock and convertible securities.

The U.S. Nuclear Regulatory Commission recertified USEC’s operations at the gaseous diffusion uranium enrichment plants in Paducah, Ky., and Piketon, Ohio, for five years. The renewed certificates of compliance represent the determination that USEC’s operations at the plants comply with all NRC safety, public health, environmental and security regulations.

Based on its review of the certificate renewal applications, the NRC staff has concluded that “in combination with the existing certificate conditions, USEC provides reasonable assurance of adequate safety, safeguards and security and compliance with NRC requirements,” according to the NRC notice published in the Federal Register of the renewal of the certificates of compliance.

The U.S. and Russian governments approved an amendment to USEC’s contract with TENEX for the Megatons to Megawatts program. The amendment implements a new pricing methodology for deliveries of low enriched uranium from TENEX starting in 2010 and continuing through the end of the contract in 2013.

The new pricing methodology is intended to enhance the stability of future pricing for both parties through a formula that combines a different mix of price points and other pricing elements from the previous methodology.

USEC began operations of a cascade of approximately two dozen production-ready AC100 centrifuge machines in cascade configuration simulating commercial plant conditions and assay levels.