European Power Surges on Fresh Fears of French Reactor Corrosion

Power prices across Europe jumped as nuclear giant Electricite de France SA reported signs of “stress corrosion” at a reactor, renewing fears that generation may be curtailed once again.

The French utility in 2022 and 2023 was forced to halt part of its atomic fleet, the backbone of western Europe’s electricity market, to fix cracked pipes. That sent energy prices soaring as the repairs coincided with dwindling Russian gas supplies to the continent.