Tesla has been granted approval to enter the UK’s retail energy market. The license allows Tesla Energy Ventures Limited, a subsidiary of Musk’s company, to supply businesses and homes with electricity in England, Scotland and Wales.
What should we expect?
It’s expected that Tesla Energy Ventures will launch an electricity supply service in the UK that is similar to its offering in Texas that was introduced in 2022. In Texas customers can not only power their homes and their cars, but also sell energy back to the grid.
Tesla already has a large audience through Tesla car ownership in the UK. If it does follow the Texas model, they may attract their initial audience by offering cheaper car charging.
The company has only applied for an electricity license, so it will not be applying gas. This may put it at a disadvantage against other established UK providers that offer a competitive bundle for gas and electricity.
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