The introduction of the Fixed Term Parliaments Act, however, means that even if she wants to, Mrs May might not find it so easy.
The Act was introduced after the 2010 election to bind together the two parts of the new coalition government.
The discretion of prime ministers to pick the timing of elections was removed and the dates fixed five years apart - we are next due one on Thursday 7 May 2020.
The Act provides two mechanisms by which an early election could be triggered, which are:
Taking each in turn, the government does not have the numbers on its own to achieve a two-thirds majority so any vote would depend on what the other parties do.
Jeremy Corbyn has warned the Labour Party to prepare for an election next year and Newsnight reported in September that he planned to instruct his MPs to vote in favour of an early election if the government wanted to call one (although that has not been confirmed). Latest polls suggest that supporting an early election would be a mistake for Labour.
It is unlikely the Scottish National Party would come to the government's assistance in bringing about an early election.
Looking at the second mechanism, if other parties do not support an early election it would be unprecedented in British politics for a government to bring about its own downfall (though such engineering is not unknown elsewhere) and the government voting no confidence in itself could be a risky strategy.
More likely is that the Fixed Term Parliaments Act could be repealed or amended, to require, for example, a simple majority of MPs in favour of an early election, though the House of Lords may have something to say about this.
An amendment to existing legislation seems more straightforward than trying to reintroduce the prerogative power to call elections.
In short, the calling of an early election would require either a change in the law, or some unusual parliamentary gymnastics.

The cygnets and their mother had recently become a familiar sight around Lisnarick, outside Irvinestown.
Pat Masterson, who lives in Lisnarick, photographed the swans shortly before they were killed on Tuesday evening.
"When I saw their mother walking them along the road, all in line, I stopped to take a picture," said Ms Masterson.
"They've  visited our farm every day over the last few weeks so I've photographed them before, but I thought that the way the wee cygnets were following their mother was just so lovely I had to stop and watch.
"I still can't believe that they were run over so soon after."
Enniskillen-based vet Kevin Leonard, who happened to be passing moments after the birds were killed, said he was shocked by what he saw.
"The five of them were just lying in a row behind the mother, who was injured as well.
"Four of them were dead and the fifth was so badly mangled I had to put it down with an injection.
"The sixth one only had minor injuries, so I gave it an anti-biotic cream and guided it into a nearby field alongside its mother.
"It was actually quite an upsetting sight. I can't believe whoever killed them just drove on."
Paul Hoy, who had also stopped when he saw the dead swans, assisted the vet in moving them to safety.
He said he was "disgusted" by what he saw.
"A girl who was there said she saw the car running them down and driving on.
"We're all wondering how this could have been an accident - it's a 30mph speed limit there and it wasn't dark so the swans were very visible.
"If you can't see six swans on the road, what are the chances you'll see a child?
As native wild birds, swans enjoy statutory protection under the Wildlife and Countryside Act 1981 and it is an offence to intentionally injure, take or kill a wild swan.
The act similarly protects the eggs and nests of swans.
It is an offence to take or possess the egg of a wild mute swan, or to damage or destroy the nest of a mute swan whilst in use or being built.
The RSPB said anyone who witnesses an offence against swans or other wildlife should contact their police Wildlife Liaison Officer through their local police station.
With the permission of the Queen, prime ministers used to be able to call a general election at a time of their choosing.
[NEXT_CONCEPT]
Residents in a County Fermanagh village have expressed anger at the "heartless act" of a driver who killed five cygnets.