The spectral shift controlled reactor (SSCR) controls excess core reactivity during an operating cycle through the use of variable heavy water concentrations in the moderator. With heavy water in the coolant, the neutron spectrum is shifted to higher energy levels, thus increasing fertile conversion. In addition, since heavy water obviates the need for soluble boron, neutron losses to control poison are eliminated. As a result, better resource utilization is obtained in the SSCR employing plutonium fuel cycles compared to similarly fueled pressurized water reactors (PWRs). The SSCR, however, is not competitive with the PWR due to higher capital costs, operation and maintenance costs, and the heavy water costs, which outweigh the fuel cycle cost savings. The SSCR may become an attractive alternative to the PWR if uranium prices increase substantially.