A method for reactivity control through variation of the moderator content in the reactor core was proposed. The main idea is to adjust the amount of water in the core from a low value at beginning of cycle to a high value at end of cycle, so as to compensate for fissile material burnup and buildup of fission products. The possible implementation of this idea may be carried out by introducing a number of hollow tubes into the fuel assembly between the fuel rods. Then variation of the moderator content in the core may be managed through a change of the water level in these tubes. A preliminary neutronic and economic analysis indicated a potential savings in the fuel cycle requirements and costs. Preliminary steady-state thermal-hydraulic calculations indicate the possibility of implementing the proposed method in the existing pressurized water reactor plants. Feasibility of the proposed design may be finally established after rigorous thermal hydraulics as well as safety analysis calculations. Furthermore, there is need to elaborate the mechanical design of the pressure vessel internals together with cost benefit analysis.