UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT

                Pursuant to Section 13 or 15(d) of the Securities
                              Exchange Act of 1934

       Date of Report (Date of earliest event reported): January 30, 2004
                                                         ----------------


                         Environmental Power Corporation
                         -------------------------------
             (Exact name of registrant as specified in its charter)


Delaware                            0-15472                          75-3117389
--------                            -------                          ----------
(State or other jurisdiction        (Commission                   (IRS Employer
of incorporation)                   File Number)             Identification No.)


           One Cate Street, 4th Floor, Portsmouth, New Hampshire 03801
                    (Address of principal executive offices)


                                 (603) 431-1780
              (Registrant's telephone number, including area code)








Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.



( c) Exhibits

99   Press Release of Environmental Power Corporation ("POWR") dated January 30,
     2004

Item 9. Regulation FD Disclosure

The Press Release attached as Exhibit 99 hereto is furnished pursuant to
Regulation FD. It is not filed.

Cautionary Statement

The Private Securities Litigation Reform Act of 1995 (the "Act") provides a
"safe harbor" for forward-looking statements. Certain statements contained in
this press release, including statements containing the words "expects,"
"estimates," "anticipates," "believes," "projects" and variations thereof, and
other statements contained herein regarding matters that are not historical
facts are forward looking statements as such term is defined in the Act. Because
such statements involve risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially include, but are
not limited to, uncertainties involving development stage companies, financing
and cash flow requirements and uncertainties, difficulties involved in
developing and executing on a business plan, difficulties and uncertainties
regarding acquisitions, technological uncertainties, risks relating to managing
and integrating acquired businesses, unpredictable developments (including plant
outages and repair requirements), the difficulty of estimating construction,
development, repair and maintenance costs and timeframes, the uncertainties
involved in estimating insurance and implied warranty recoveries, if any, the
inability to predict the course or outcome of any negotiations with parties
involved with Environmental Power's or Microgy's projects, uncertainties
relating to general economic and industry conditions, the amount and rate of
growth in expenses, uncertainties relating to government and regulatory
policies, the legal environment, intellectual property issues, the competitive
environment in which Environmental Power and Microgy operate and other factors,
including those described in the Company's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2003, as well as other filings with the Securities
and Exchange Commission. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date on which they
are made. Environmental Power undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.










                                    SIGNATURE


         Pursuant to the requirements of section 13 or 15 (d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.


                            Environmental Power Corporation

                            /s/ Donald A. Livingston
                            ------------------------
                            Executive Vice President