So what's the lure of British utilities, and will there be a payoff to stockholders?
British utilities are well positioned to exploit the opportunity because they already have undergone deregulation at home and know the business better than many others.
A takeover of Pacificorp would complete a big reversal for the company, which was viewed as a potential buyer of a British utility earlier this year.
The basis of the company was Wessex Water, a British utility Enron had acquired.
The spots, which have won other awards recently, featured interviews with talking animals on behalf of British electric utilities.
If a deal is completed, Yorkshire would be the seventh British electric utility to be taken over by an American company in recent years.
Calenergy thus became the fourth American buyer of a British utility in the last two years.
An acquisition of Southern Water would be the 10th takeover of a British utility in the last 18 months.
American utilities have led the buying scramble, acquiring seven British utilities - including Yorkshire Electricity - in the last two years.
The new Government plans to enact a windfall-profit tax on acquired British utilities.