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Usually this is a driver or power settings issue.
Set the profile back to Laptop/Desktop.
Then go into the device manager and check the power settings for all of your devices.
Toggle the settings for each power managed device until you find the culprit.
You have something which is not going into standby mode.
Note it may not be obvious.
For instance the modem may have a power config area under the advanced tab.
Also, check out what this person found to resolve it:
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I finally was able to find the problem. After doing a couple of clean installs. I updated windows time after time with constant tests to see if my laptop would go into stand by. I finaly found that when updating Norton Antivirus it will automatically make msn messenger run in the background even if you have it off. I was able to turn off that process and it finally went into stand by and hibernation.