The invention relates to a rectifier circuit comprising a phase module (110) with at least one upper and one lower rectifier valve (T1, . . . , T6), said phase module (100) being electrically connected on the DC side to a positive and a negative DC busbar (P0, N0), each rectifier valve (T1, . . . , T6) having at least two bipolar subsystems (10) electrically connected in series. According to the invention, a protection component (12) is connected in parallel to the connector contacts (X1, X2) of each subsystem (10). A rectifier circuit is thus obtained with distributed energy stores which can be operated redundantly in case of fault.