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26 July 2012, 10:56 | Updated: 26 July 2012, 11:07
The future of Peterborough Power Station is under review by owners Centrica.
The company, which owns British Gas, is reviewing the future of the gas-fired power station in Fengate due to 'challenging economic conditions'.
22 people are currently employed at the power station.
The announcement comes as an annual report from Centrica shows the company is making a profit of approximately £1.9 million a day.
Centrica has already decided to close a similar power station in King's Lynn, and is also undertaking a review of the future of its power station in Roosecote in Cumbria.
The power station in Peterborough was built in 1991 and has a contract to supply electricity when required to by the National Grid.
The decision to review the future of the power station comes after Centrica failed to win a new contract after submitting bids.
A decision will be made on the future of Peterborough power station next month.
A Centrica spokesperson said: "It’s disappointing that we didn't win a new contract and our review will consider all options for the plant and we will keep our staff fully informed of developments."