This paper describes results of experiments and theoretical modeling relevant to the development of a new approach to on-line monitoring of metal release and corrosion. This is done by means of measurements of changes of the corrosion potential (Ecorr) during stagnation and flow (CPSF approach). In the absence of free chlorine, the values of Ecorr are strongly correlated with the concentration of copper. In the presence of chlorine, the behavior of Ecorr has an additional feature: immediately following the start of a stagnation episode, the corrosion potential rapidly decreases and reaches a minimum. This type of Ecorr behavior was examined based on numerical modeling. It was determined that the intensity of the Ecorr transients is sensitive to the presence of chlorine and increases linearly with its concentration. It was concluded that for systems for which the behavior of Ecorr without chlorine in CPSF cells has been explored, its quantification in the presence of chlorine can be utilized to determine the rate of free chlorine decay and the corrosion current defined by the reduction of oxygen. Includes 7 references, tables, figures.