Elon Musk company wins licence to supply electricity to homes and businesses in UK

A subsidiary of Tesla, the electric vehicle manufacturer founded by Elon Musk, has received approval to supply electricity to households and businesses in the United Kingdom.

Britain’s energy regulator Ofgem confirmed on Thursday that Tesla Energy Ventures has been granted a licence authorising it to provide electricity to both domestic and non-domestic consumers across Great Britain.

The Hindu reported that Tesla had applied for the licence in July, marking its first attempt to enter the retail electricity supply market outside the United States. Tesla already operates as an electricity provider in Texas.

Tesla Energy Ventures had earlier secured permission in 2020 to generate electricity in the UK, including through solar panel installations, but had not been authorised to sell the power directly to consumers.

A spokesperson for Ofgem said the regulator’s licensing decisions are guided by the need to ensure consumer protection and maintain a secure and fair energy market.

The development comes at a time when Tesla is facing a global slowdown in sales of its electric vehicles, prompting the company to expand its presence in other areas of the energy sector.