ON FRIDAY 14th FEB 2003, BGY PREVAILED BUT ON MARCH 10th 2003, WE MUST FIGHT FOR OUR RIGHTS....... SEND THIS LETTER!, THEN MAKE SOME NOISE! AND VOTE 10% OR "NO" TO THE RESTRUCTURE.... CREDITORS YOU HAVE BEEN WARNED! DONT TRY AND SCREW US!


If you agree you face a real threat from creditors of BGY to take away your voting rights - cut and paste this e-mail to:

jill.kwan@fsa.gov.uk
OR
enquiries@fsa.gov.uk

or post to:
The Financial Services Authority,
25 The North Colonnade,
Canary Wharf,
London E14 5HS
Tel:
020 7676 1000

ALSO SEND YOUR VIEWS TO THE FOLLOWING EMAILS RECOMMENDING THAT WE INTEND TO VOTE "10% OR NO" ON MARCH 10TH

Paul.heward@british-energy.com (BE relations officer).
lynn.cuthbertson@british-energy.com (BE relations coordinator)
letters.editor@ft.com (Financial Times)
charles.moore@telegraph.co.uk (Editor Telegraph)


WE NEED MEDIA EXPOSURE ON THIS! LETS GIVE THE CREDITORS A RUN FOR THIER MONEY! REMEMBER TO KEEP SENDING UNTIL YOU RECIEVE AKNOWLEDGEMENT OF RECIEPT AND LET US KNOW!
____________________________________________________________________________

The Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS


17th February 2003


Dear Sir

Waiver of British Energy Shareholders Voting Rights

In the event of receipt by the FSA of any application or notification of Waiver of FSA Rules from British Energy plc or representatives of its creditors, to suspend or waive the voting rights of British Energy shareholders, I require that you notify me directly as soon as practicable.

Your objectives and guidelines expressly require that (8.3.1 (2)) " The waiver would not result in undue risk to persons whose interests the rules are intended to protect". I am informing you that such any such waiver of my voting rights as a British Energy shareholder will constitute an undue risk to my interests.

In view of the ongoing FSA Investigation into the British Energy Aug 14 2002 "Call to Analysts" to establish whether investors have been misled on the financial viability of British Energy at that time, I also wish to state that a waiver on British Energy's shareholder voting rights, now or in the near future, will be seriously prejudicial to the outcome of your investigation, and to my interests.

The FSA is charged with the duty to maintain confidence in the UK financial system, and to secure protection for its consumers, and I look to the FSA to uphold these charges. If British Energy or its creditors force a similar treatment of its shareholders to Marconi or Energis, the FSA has an obligation to enforce fair and impartial treatment of investors. Without this, investor confidence will suffer further great damage and the entire financial market will feel the effects for years to come.

Yours faithfully

____________________________________________________________________

P.S. If the FSA replies asking for more info regarding this letter. Please direct them to the following link which proves our claims and rights according to thier Handbook.
http://www.fsa.gov.uk/vhb/html/sup/SUPtoc.html

Best of luck for your fight ....

ains


2bn energy rescue package faces US challenge

GUY DIXON Scotland on Sunday


BRITISH Energys proposed 2.1bn rescue could face a legal challenge from the American owners of three of Britains biggest power stations.

AES, which owns the Drax station in North Yorkshire, and AEP, which owns Fiddlers Ferry station in Cheshire and Ferrybridge in West Yorkshire, said they were considering a challenge.

Operators claim the governments rescue package will prevent wholesale prices rising from their current levels, which are uneconomic. The government must seek formal EU approval by March 9 for the rescue package for the East Kilbride company.

Environmental group Greenpeace has already announced that it intends to seek annulment in the European Court on a previous decision to approve a 650m emergency loan facility.

Wholesale electricity prices in the UK have fallen by around 40% since 1998 due to overcapacity and new trading arrangements, prompting British Energy to seek government assistance last year.

In a letter to energy minister Brian Wilson last month, Stuart Staley, AEPs UK managing director, said: "Since the government began subsidising British Energy, several projects have gone into administration, while a number of others are perilously close to insolvency.

"Investors are beginning to view the political risks of the UK energy market as too high to justify continued investment."

Thanks Ains,

Dont really know just how effective we are being, however, as you can see we are getting responses from both BGY and the FSA, so they are at the very least aware of shareholder sentiment to Veto at forthcoming EGMS. Unfortunately its very difficult to estimate just how many shareholders are being reached as well as how many share our views.....

It's always going to be difficult - in an ideal world you need a website and some media attention - plus a shareholder list for a mailing




ains

Ains, website is out.

However, any ideas on how to get hold of a shareholder list?

Cheers

robo

UK power plants under threat as pollution laws bite

By Stuart Penson
LONDON, March 4 (Reuters) - Britain's coal-fired power stations, starved of cash by slumping electricity prices, face a deepening crisis as anti-pollution laws force them to spend millions on cutting greenhouse gas emissions.

Plant closures loom as stricter limits on emissions demand big investments in pollution-busting technology at a time when weak power prices have hammered down margins on generating electricity in the UK, say industry sources and analysts.

"The generation industry is well aware of environmental pressures and it recognises the need for investment," said David Porter, head of the Association of Electricity Producers.

"Unfortunately, the energy trading climate has been so dismal for so long that at times it is hard to see where investment can come from," he said.

UK power prices have slumped 40 percent since 1998 on government-led moves to introduce greater competition among generators.

Coal stations, which generate a third of the country's power and produce more greenhouse gases than gas-fired plants, face tighter limits on emissions of sulphur dioxide, carbon dioxide, nitrogen oxide and dust as European Union regulations kick in over the next few years.

"All stations will be affected," said Neil Davies, a policy manager at Britain's Environment Agency.

"Stations without (pollution-cutting) flue gas desulphurisation (FGD) equipment will be pretty vulnerable, you're bound to get some closures," he told Reuters.


DECISION TIME LOOMS

To comply with the European Union's forthcoming Large Combustion Plant Directive on emissions, which comes into force in 2008, all UK coal-fired plants will need FGD kit, analysts say.

Generators will have to commit to these investments by June next year, which is the deadline for opting out of the Directive.

Plants opting out can operate for 20,000 hours after the Directive comes into force. Then they must close.

FGD, which cuts dramatically power stations' output of sulphur dioxide, costs around 200 million pounds for a typical 2,000 megawatt plant, said one industry consultant.

"The problem is, nobody has really got money to spend on pollution abatement," said the consultant, who declined to be named.

Only two of Britain's coal-fired stations have FGD.

Powergen's EONG.DE Ratcliffe plant in central England has a 250-million pounds system in place.

AES Drax AES.N in northern England, the country's biggest power station which faces a cash crisis at its struggles to service hefty debts, is also equipped. LE Group, part of state-owned Electricite de France EDF.UL , is building FGD plants at its West Burton and Cottam stations, while financially crippled British Energy BGY.L is putting in a system at its Eggborough station.

"The project's well underway. We are fitting FGD to units three and four and it will be complete by 2004, it's all going to plan," said a spokesman for British Energy, which is surviving on government loans after low power prices sent it to the brink of collapse last September.

International Power's IPR.L Rugeley station in central England is also planning an FGD system.

Need for the investment in FGD comes as the plant tries to adjust to life without its main sales contract, which ended with last year's collapse of U.S.-owned utility TXU Europe.

Innogy RWEG.DE , which runs three of the country's big coal-fired plants, declined to comment on its plans for FGD and American Electric Power AEP.N , which owns the 2,000-megawatt Fiddler's Ferry and Ferrybridge plants in northern England could not immediately be reached for comment.

Last week the government, outlining a national energy strategy for the next 50 years which called for big cuts in emissions, said coal still had a role in Britain's future energy mix -- but only with the use of cleaner technologies.

Try asking the company secretary - I managed to get an electronic download for free from TWT. Saved nearly a 1K. Alternatively talk to the registrars.



ains

Thanks Ains, will try that out....

robo :)

Hi ains, any idea why BGY USA is now trading at almost $4 per share up by over 1000%!!!!???????

no-one seems to know what the hell is going on!

cheers

Robo :)

wasn't around yesterday ..... no news I can immediately see anywhere - been tracking them today and note they are now up nearly 10% .... there was a lot of green energy comment in the States yesterday

Ains,

FYI,
-------------------------------------------------------------------------------
Dear XXXXX

Thank you for your e:mail regarding the change in ADR price.

In our interim results announced on 12th December 2002 we noted that the ADR
shares were currently trading in breach of the NYSE Price Criteria as they
had been trading below $1 for a period of more than 30 days and stated that
we were in discussions with NYSE as to how the breach may be cured.

On March 18th 2003 we increased the ratio of ordinary shares to ADRs from 4
to 75. Thus, as of this date the price would rise by a factor of 75/4 =
18.75 for every ADR held - hence the current price of around $3.81.

As indicated in the attached PdF announcement by J P Morgan, you will need
to exchange your existing ADRs for new ones based on 5.33 ADRs for every 100
ADRs surrended (400/75).

I trust that this clarifies the position

Best wishes

Keith Gilroy
Investor Relations

Thanks ..... not what you wanted to hear I guess but makes sense.

I noted the wide trading range today and maybe time to start trading them :-))



ains