MALAYSIAN power group Tenaga Nasional Bhd is reportedly considering a bid for Bord Gais Energy, the retail and power generation unit of the semi-state utility company.
A successful bid would see the company enter the European utilities market for the first time.
Another company believed to be considering a bid is British player Centrica.
Potential bidders have until today to submit indicative offers for the company.
Bord Gais Eireann began the process of selling Bord Gais Energy early last month, as part of the Troika bailout deal.
SSE, the UK's second biggest energy supplier, which owns Irish-based wind power provider Airtricity, is also expected to bid.