Shares dive/ France’s EDF has problems with nuclear welds

PARIS has been aware of abnormalities in the coupling of several steam generators and components used in nuclear reactors, sending stocks to the French provider of lower power.

France has the world’s second largest fleet of nuclear reactors after the United States and has exported its technology to China, Finland, South Africa and South Korea with Britain also deciding to use it.

Framatome has informed EDF of a deviation from technical standards governing the production of nuclear reactor components, “EDF said in a statement.

“The market does not know what to do with it. People are afraid of the worst initially until further details are available,” said a London-based energy trader.

“The EDF informed the French nuclear regulatory authority of its initial investigations,” the energy group said. “The EDF will provide additional information as the characterization work progresses.”

France’s ASN Nuclear Security Authority did not respond to requests for immediate comment./investing

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