The Swedish pop icons shot to fame after winning the televised singing competition in 1974 with mega-hit "Waterloo".
Band members Bjorn Ulvaeus and Benny Andersson have said it's "promising" that the "Physical" hitmaker's management, TaP Music, is to scout a pop star to compete at next year's show, which will be held at the PalaOlimpico in Turin, Italy, after Rome's Maneskin won the 2021 competition with "Zitti E Buoni".
What's more, they'd like to see the "New Rules" star herself sing the country's entry and insisted they would be up for penning the track for the right act.
Appearing on British TV show BBC Breakfast, the pair were asked what they thought of the U.K.'s "new tactic," to which Benny replied, "Good."
And Bjorn said, "Promising."
Benny continued, "Picking an act is one thing, writing a song is different. So you need both a great song and a good act."
And when asked if they would consider writing the U.K. entry, he said, "Oh, a U.K. entry? I don't know."
Benny then turned to his bandmate, who outright said, "No."
However, the former insisted, "But what's the risk? You can't be worse than last."
Bjorn said, "No, but it needs to be a really good act to write for, yeah."
Benny then suggested, "Dua Lipa." To which, his bandmate agreed, "Yes."
The 2022 entry song is set to be released on a major record label to further boost the nation's chances of victory.
"Levitating" hitmaker Dua said, "I'm a proud Brit whilst also being a proud Kosovan… I'm happy to lend my manager to the cause… I'll be cheering them on."
The U.K. once again suffered a major blow after James Newman - the brother of "Love Me Again" hitmaker John Newman - scored nil points in May with his performance of "Embers in Rotterdam".