Share Elon Musk’s Tesla is preparing to enter the UK energy market, with plans to become a household electricity supplier, according to The Telegraph. Through its subsidiary Tesla Energy Ventures, the company has submitted an application to Ofgem for a licence that would allow it to compete directly with established providers like Octopus and British Gas. The move could see “Tesla Electric” begin supplying power to UK homes as soon as next year. The new service is expected to be deeply integrated with Tesla’s existing products, offering a seamless experience for owners of its electric cars and Powerwall home batteries. It already operates a similar business in Texas, where it allows customers to charge their cars affordably and pays them for selling excess energy—from solar panels or stored in their Powerwalls—back to the grid. This “virtual power plant” model is expected to be replicated in the UK, with the promise of helping customers save money on their bills. Tesla’s entry into the market comes with some significant advantages. The company already has a substantial customer base in the UK, with over 250,000 cars on the road and tens of thousands of Powerwall batteries installed. This could give the company a head start in building a network of connected energy sources. However, the move comes at a challenging time for Tesla, with its car sales in the UK reportedly slumping by 60% in July amid growing competition and controversy surrounding Elon Musk’s public statements. While the Ofgem licence application could take up to nine months to be approved, Tesla has been steadily building its team and infrastructure in preparation. It has held a wholesale generation license since 2020 and has been actively hiring for energy operations staff. It’s worth noting that the company has not applied for a gas supply licence, meaning that most households would still need to use a separate provider for their gas needs. For latest tech stories go to TechDigest.tv Share this: