Tesla secured a license to supply electricity to households and businesses in Britain, a boost for Elon Musk's company as it seeks to expand its energy business.
Britain's energy regulator, the Office of Gas and Electricity Markets known as Ofgem, said Tesla Energy Ventures had received the go-ahead to provide electricity to domestic and nondomestic consumers in England, Scotland and Wales, but not Northern Ireland.
The approval allows Tesla to expand its energy ambitions beyond the U.S., giving it access to a competitive market where it would face off with British Gas, E.ON, EDF, Octopus Energy and others, though Tesla's license only covers electricity while many established providers in Britain also supply gas to customers.
The group's Tesla Electric business currently offers electricity plans for households in areas of Texas that allow customers to choose their provider, according to Tesla's website.
The division has plans with reduced home charging costs for Tesla drivers but also for customers of Powerwall, a compact battery system designed to store energy generated by solar or from the grid that people can use to power devices and appliances at home, during outages or if they want to go off-grid, according to the company.
Tesla Electric also has a service known as Tesla Virtual Power Plant that allows Powerwall owners to earn credits on their bill for sharing energy with the Texas grid, essentially providing grid balancing services.
Tesla didn't respond to a request for comment on Ofgem's decision. Tesla Motors, a separate company incorporated in England and Wales, received an electricity generation license in 2020, though Ofgem said that permit wasn't relevant to Tesla Energy Ventures' application to supply electricity.
The watchdog said it had approved the supply license after a review process that stretched over seven months, noting that Tesla now had to comply with obligations such as treating customers fairly, consumer protection, operational capability, billing and providing accurate and timely information.
"Protecting consumers and maintaining a secure, fair energy market underpins every licensing decision we make," an Ofgem spokesperson said in a statement. "We monitor compliance continuously and will not hesitate to use our powers where standards are not met."
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