Shares of power producers rose as traders rotated into defensive sectors amid fears of an aggressive rate hike from the Federal Reserve.
United Nations atomic-energy inspectors are heading to the Zaporizhzhia nuclear power plant amid fears that fighting in the area has damaged power lines and caused fires at the facility that could lead to nuclear catastrophe. Shelling inside the plant in recent weeks has sown fears of a radiation leak.
The president of the European Union said the bloc was working on a plan to get power prices, soaring for months now due to fallout from Russia's invasion of Ukraine, under control.
Austrian hydroelectric utility Verbund fell after Chairman Martin Ohneberg said a proposal to levy a special tax to cover elevated power costs would endanger jobs while damaging shareholder interests.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-29-22 1727ET
