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EDF shares drop following disclosure of issue with nuclear reactor components

Electricité de France SA shares tumbled after the French utility disclosed that its majority-owned engineering and construction firm, Framatome, has flagged problems with some nuclear reactor components.

Framatome informed EDF of a "deviation from technical standards governing the manufacture of nuclear-reactor components" related to an "excursion" from temperature ranges during manufacturing operations. Specifically, the issues involved "detensioning heat treatment on some steam generator welds," according to a Sept. 10 news release.

EDF said the defect was found in in-service components and components that had not yet been installed, and is actively investigating "all affected components and reactors, as well as to ascertain their fitness for service."

EDF did not specify if any reactors will have to be temporarily taken out of service for repairs, Reuters reported Sept. 10. An EDF spokesperson said it was unlikely that the entire nuclear fleet of 58 reactors is affected since not all reactors are from the same supplier.

The French nuclear regulatory authority was notified of the substandard components on Sept. 9. EDF also said it will provide additional information as checks progress.