Tesla has formally applied for an electricity supply license from the UK’s energy regulator Ofgem, aiming to enter the retail energy market across England, Scotland, and Wales as early as mid 2026.
The application was submitted by Tesla’s Manchester-based subsidiary, led by Andrew Payne, who oversees European energy operations.
Tesla could offer bundled energy deals to its existing UK customer base—think overnight EV charging discounts, and payments for feeding excess solar or battery power back to the grid.
This mirrors Tesla’s Texas model, where customers optimize energy use and earn credits for surplus power.
Tesla’s UK car sales plunged nearly 60% in July, and European sales are down amid fierce competition from Chinese EV makers.
This energy pivot could diversify revenue and leverage its Powerwall and solar tech footprint in the UK.
Backdrop:
Tesla has been a licensed electricity generator in the UK since 2020, but this marks its first attempt to become a direct supplier.
The move comes amid scrutiny of Musk’s political ties, including tensions with Donald Trump and European regulators.
(source cnbc.com)
—Agencies
Leave a Reply