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First Hydro


First Hydro is considering plans to sell off two power stations at Llanberis and Blaenau Ffestiniog in North Wales, as part of a deal to secure the future of US parent company Edison Mission Energy.

First Hydro is planning to shed up to 40 jobs at the Dinorwig and Ffestiniog hydroelectric power stations in Gwynedd over the next two years.

The regional electricity companies are to keep the profits from the recent sale of the First Hydro pumped storage business, but will have to pay capital gains tax.