-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OUOojsPa/wr1qWy0hBgqqq93ogVe2lvOOT/wtoZRp5ngkrXGpMTR3NpJ1hIRNUck
 NrOCWKp4Xmcj87cpwIZuAA==

<SEC-DOCUMENT>0001181431-03-011505.txt : 20030723
<SEC-HEADER>0001181431-03-011505.hdr.sgml : 20030723
<ACCEPTANCE-DATETIME>20030624165737
ACCESSION NUMBER:		0001181431-03-011505
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030624
FILED AS OF DATE:		20030624

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BLAMPIED PETER J
		CENTRAL INDEX KEY:			0001186970

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15472
		FILM NUMBER:		03755437

	BUSINESS ADDRESS:	
		STREET 1:		25 LINCOLN ST
		CITY:			HANGHAM
		STATE:			MA
		ZIP:			02043
		BUSINESS PHONE:		7818490011

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENVIRONMENTAL POWER CORP
		CENTRAL INDEX KEY:			0000805012
		STANDARD INDUSTRIAL CLASSIFICATION:	COGENERATION SERVICES & SMALL POWER PRODUCERS [4991]
		IRS NUMBER:				042782065
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		500 MARKET ST
		STREET 2:		STE 1E
		CITY:			PORTSMOUTH
		STATE:			NH
		ZIP:			03801
		BUSINESS PHONE:		6034311780

	MAIL ADDRESS:	
		STREET 1:		500 MARKET ST
		STREET 2:		STE 1E
		CITY:			PORTSMOUTH
		STATE:			NH
		ZIP:			03801
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd11621.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-06-24</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000805012</issuerCik>
        <issuerName>ENVIRONMENTAL POWER CORP</issuerName>
        <issuerTradingSymbol>( powr )</issuerTradingSymbol></issuer>
<reportingOwner>
<reportingOwnerId>
            <rptOwnerCik>0001186970</rptOwnerCik>
            <rptOwnerName>BLAMPIED PETER J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText></reportingOwnerRelationship></reportingOwner>
<derivativeSecurity>
<securityTitle>
<value>2002 Director Options (right to buy)</value></securityTitle>
<conversionOrExercisePrice>
<value>.17</value></conversionOrExercisePrice>
<transactionDate>
<value>2003-06-23</value></transactionDate>
<deemedExecutionDate>
<value>2003-06-23</value></deemedExecutionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved></transactionCoding>
<transactionAmounts>
<transactionShares>
<value>50000</value></transactionShares>
<transactionValue>
<value>40330</value></transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value></transactionAcquiredDisposedCode></transactionAmounts>
<exerciseDate>
<value>2003-05-14</value></exerciseDate>
<expirationDate>
<value>2013-05-14</value></expirationDate>
<underlyingSecurity>
<underlyingSecurityTitle>
<value>Common</value></underlyingSecurityTitle>
<underlyingSecurityShares>
<value>500000</value></underlyingSecurityShares></underlyingSecurity>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>100000</value></sharesOwnedFollowingTransaction></postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value></directOrIndirectOwnership>
<natureOfOwnership>
<value></value></natureOfOwnership></ownershipNature></derivativeSecurity>
<ownerSignature>
<signatureName>Peter J. Blampied</signatureName>
<signatureDate>2003-06-24</signatureDate></ownerSignature></ownershipDocument>


</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
