ENW is jointly owned by an asset management arm of US financial giant, JP Morgan, and Colonial First State, an Australian investment group.

The electricity distribution company, which employs more than 1,800 people and provides power to around 5m customers across north west England, has committed to engaging with unions during the process.

Steven Roberts, Prospect negotiations officer, said: “This is an uncertain time for members at ENW and following the announcement to the unions, the company has held meetings with its workforce to inform them of the strategic review.

“It is too early at this stage to determine the outcome of the review and ENW have declined to comment to the media regarding any speculation following the announcement.

“ENW recognises four trade unions and Prospect has committed to do all it can to ensure jobs and conditions are protected should ENW be sold. Further details will come to light in the coming months and we have urged the company to provide clarity and certainty as soon as possible.”