Our principles
Powergen recognises that its actions can have a great effect on the lives of many different groups of people. We therefore try to ensure that our business is conducted in a way that complies, as a minimum, with the laws of each country in which we operate and is seen as responsible by those with whom we interact.

With this aim in mind, we endeavour to enhance our interaction with our stakeholders through established principles, values and policies.

Our values
The values of an organisation serve as the cornerstone to the actions of the organisation.

Within Powergen, our values are based on:

• Safety - Our most valuable assets are our people;
• Integrity - Everything we do must stand the test of honesty and sincerity that leads to trust between all of us, regardless of position;
• Teamwork - The product created when people work together far exceeds the sum of their individual efforts;
• Innovation and continuous improvement - In everything we do, we improve on what works well and change those practices that are no longer effective in today’s environment;
• Openness - Understanding can only come with openness and honesty. Openness to new thinking, to other views and to other cultures allows us to build relationships with customers and colleagues;
• Stewardship - We must always take account of the future in what we do today, recognising our impacts on the environment and working to minimise them;
• Citizenship - We are an important part of the communities in which we work and serve;
• Commitment - Our success is dependent on everyone being committed to Powergen and its values.
  

Our board
The Powergen Board of Directors ensures that the company is run effectively and with an eye to the future. In 2002, from July, the Board was comprised of:

Chairman of the Board of Powergen:
Ulrich Hartmann, CEO of E.ON

Deputy Chairman and Chief Executive Officer (CEO) of Powergen:
Ed Wallis

Chief Executive Officer, Powergen UK:
Dr Paul Golby

President and Chief Executive Officer, LG&E Energy Corp:
Victor A. Staffieri

Chief Financial Officer, Powergen:
Michael Söhlke, Executive Vice President at E.ON, responsible for Corporate Planning and Controlling

Dr. Hans Michael Gaul, Member of the Board of Management at E.ON AG

Dr. Hans-Dieter Harig, Chairman of the Board of Management at E.ON Energie

Dr. Frank Elsässer, Member of the Board of Management at E.ON Energie

Tom Oates, Non-executive Director

Peter Wilson, Non-executive Director

In April 2003 Ulrich Hartmann stepped down from the management board of E.ON AG. His place as CEO for E.ON AG and Board Chairman of Powergen was taken by Dr Wulf Bernotat.

In July 2003 the Board of Powergen changed, with Ed Wallis, Deputy Chairman and CEO, Hans Michael Gaul, Hans-Dieter Harig, Frank Elsässer, Tom Oates and Peter Wilson leaving the Board. Members continuing on the Powergen board are: Dr Wulf Bernotat, who serves as Chairman and Non-executive Director, Chief Financial Officer (CFO) Michael Söhlke, Powergen UK CEO Paul Golby and LG&E Energy CEO Victor A. Staffieri, all of whom are Executive Directors.

Our policies
We recognise that in managing our business we must have regard to the risks inherent in it and ensure that we operate in an ethical manner in all our activities.

This has led to the development of a suite of Powergen Group policies that aims to encourage responsible corporate and individual behaviour through strong governance.

These policies provide guidance in all our key areas of business and risk management. Areas with their own policy include:

• Competition;
• Delegated Powers of Authority;
• Disclosure;
• Engineering;
• Environment;
• Finance;
• Group Business Conduct;
• Health & Safety;
• Human Resources;
• Information Technology;
• Open Communications.

Michael Söhlke, Chief Financial Officer, is responsible at Board level for Corporate Responsibility within Powergen. He is supported by Sara Vaughan, Director Group Regulatory and Sustainable Development and by the Head of Corporate Sustainable Development, Dr Bill Kyte OBE.