In an effort to provide a basis for satisfying nuclear utility needs in generation planning, an improved computational tool has been developed that is capable of determining near-optimal operating strategy for generation systems comprised of nuclear, fossil, hydro, and pumped storage units. This strategy attempts to minimize the system generation costs while maintaining an acceptable system reliability. The computer program developed, MANAGE, is capable of performing scoping calculations to analyze multicycle fuel management options. In applying MANAGE, the techniques of risk and decision analysis are found to be useful approaches to utility system planning under uncertainty.