Scottish & Southern Energy, Scottish Power and E.On have submitted expressions of interest to buy some of TXU Europe's UK assets, which could be worth up to £1.5bn (€2.4bn).

All three utility companies have appointed financial advisers to work on the bids. Morgan Stanley is advising E.On, the German utility. The deal would be done through E.On's newly acquired UK subsidiary, Powergen. Greenhill is working for long-term client Scottish Power. Dresdner Kleinwort Wasserstein and Credit Suisse First Boston are advising Scottish & Southern Energy of the UK. DrKW has also worked for Powergen.