A method for reducing in situ the electrochemical corrosion potential and susceptibility to stress corrosion cracking of a nickel-base alloy and boiling water nuclear reactor components formed therefrom when in contact with high temperature water. The method comprises the steps of: adding a metal hydride to the high temperature water; dissociating the metal hydride in the high temperature water to form a metal and at least one hydrogen ion; and reducing the concentration of the oxidizing species by reacting the hydrogen ions with an oxidizing species, thereby reducing in situ the electrochemical corrosion potential of the nickel-base alloy. The method may further include the steps of reacting the metal with oxygen present in the high temperature water to form an insoluble oxide and incorporating the metal into the surface of the nickel-base alloy, thereby reducing the electrical conductivity of the surface of the nickel-base alloy. A nickel-base alloy component having a reduced electrochemical corrosion potential is also disclosed.