The judges who preside over the annual Mercury Music Prize are about to reconvene in an attempt to figure out the best album by a British artist in 2009. The methodology behind the award is a closely guarded secret, with only a few music industry movers and shakers deciding who should win the prestigious award.

The prize of £20,000 (approx. $32,800) is considerable, and will help out any artist in these cash-strapped times. The favorites to win this year are Florence and the Machine and Kasabian, although Bat for Lashes, Glasvegas and The Horrors have all got a decent chance of taking home the prize.

The winners of the award will be announced on September 8, and the full list of nominees reads as follows:

Florence and the Machine – Lungs

Kasabian – West Ryder Pauper Lunatic Asylum

Bat for Lashes – Two Suns

La Roux – La Roux

Glasvegas – Glasvegas

Speech Debelle – Speech Therapy

Friendly Fires – Friendly Fires

The Horrors – Primary Colours

Lisa Hannigan – Sea Sew

The Invisible – The Invisible

Led Bib – Sensible Shoes

Sweet Billy Pilgrim – Twice Born Men