Uranium Enrichment Deferral Charges and the Customer Payment Period

摘要

A Department of Energy (DOE) Office of the Inspector General report entitled Dollar Impact of Financial Management Decisions in the Uranium Enrichment Program includes two recommendations which, if implemented, would (1) change the interest rate DOE uses to compute its charges to customers deferring delivery of uranium enrichment services and (2) reduce the 30-day interest-free period customers are allowed for making payment on DOE provided enrichment services. GAO believes that an interest rate based on the current market yield on Treasury borrowings with maturities comparable to the period of deferrals (current-market-yield rate) better reflects the cost of Treasury borrowings and is therefore more appropriate than either the rate DOE's Inspector General. DOE agrees and plans to use the current-market-yield rate in any deferral under future contracts. GAO also believes reducing the customer payment period has merit from a cash management standpoint. However, the effect of such an action on DOE's competitive position among foreign suppliers of enrichment services needs to be considered before any such reduction is made.