"It makes no sense for a bidder to hold back," one analyst said. "Three takeovers have been permitted, but 12 would not be, so if I was bidding I would like to be the fourth."
The City is divided, however, on whether predators are preparing to pounce.
"I would be amazed if there is only one foreign utility interested in electricity companies," an analyst said.
One of the bids currently on the table is from Southern Company of the US, which wants to buy South Western Electricity (Sweb).
Pacific Gas & Electric and Houston Light & Power have also both been mentioned as potential buyers
But another analyst is sceptical that other bidders are waiting in the wings:
"If a flood of people are out there, why didn't they come forward as white knight for Sweb?" he asked.