Elon Musk’s Tesla set to supply UK with electricity

Summary

• Tesla Energy Ventures, Elon Musk's subsidiary, is now approved to supply electricity to UK homes and businesses.
• This move marks Tesla's first venture as an electricity supplier outside the United States, expanding its energy operations.
• The UK energy regulator, Ofgem, granted the licence, emphasising consumer protection and a fair energy market.

LONDON - A subsidiary of Tesla, Elon Musk’s electric vehicle maker, has won approval to supply UK households and businesses with electricity, Britain’s energy regulator said March 12.

The company applied to become an electricity supplier in Britain in July, a first such move outside the United States by the operation run by tech billionaire Mr Musk.

Tesla Energy Ventures obtained a licence to produce electricity in the UK in 2020, notably using solar panels, without selling it directly to consumers.

It currently provides power across Texas.

The regulator Ofgem said Tesla Energy Ventures “has been granted a licence authorising it to supply electricity to domestic and non-domestic consumers in Great Britain”.

A spokesperson added that “protecting consumers and maintaining a secure, fair energy market underpins every licensing decision we make”.

The announcement comes as Tesla suffers a global decline in sales of its cars. AFP