Tesla, owned by American billionaire Elon Musk, is preparing to enter the British energy market with plans to supply electricity to homes within the coming months.
The company has applied to the UK’s energy regulator, Ofgem, for a license to supply electricity, aiming to compete with major energy providers such as Centrica, owner of British Gas, and Octopus Energy.
Tesla intends to begin supplying power to households and businesses across England, Scotland, and Wales by next year at the latest, according to PA Media.
Tesla Energy Ventures applied to Ofgem last month, signed by Andrew Byine, the group’s Director of Energy for Europe. The electric vehicle manufacturer also operates in the solar energy and battery storage sectors.
Tesla has been active in the UK energy market since 2020, when it secured a license for electricity generation. In the United States, the company has been supplying electricity in Texas for the past three years.
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