"Tesla is now an officially licensed utility in the United Kingdom, according to a new report from the Wall Street Journal. The automotive and energy company recently received a license from the Office of Gas and Electricity Markets, allowing it to sell electricity directly to households and commercial and industrial users."
"The company has long dabbled in electricity markets. Its first pure energy products, the Powerwall and Powerpack, were introduced in 2015, but it wasn't until a year later when Tesla merged with Solar City that it started scaling the division rapidly. In 2022, the company launched Tesla Electric in Texas, which allowed it to sell electricity directly to customers."
"The new division, known as Tesla Energy Ventures, will compete with existing utilities in the UK including EDF, E.ON, and Octopus Energy. The competition with Octopus should prove particularly interesting. Since it's founding in 2015, Octopus has become the country's largest utility by focusing on slick software, renewable energy, and creative marketing."
Tesla received official utility licensing from the UK's Office of Gas and Electricity Markets, allowing direct electricity sales to customers. The company has progressively expanded its energy division since introducing Powerwall and Powerpack in 2015, accelerating growth after acquiring Solar City in 2016. Tesla Electric launched in Texas in 2022, enabling direct customer electricity sales and virtual power plant participation for Powerwall owners. The new UK division, Tesla Energy Ventures, will compete against established utilities including EDF, E.ON, and Octopus Energy, which similarly emphasizes software, renewable energy, and innovative marketing strategies.
Read at TechCrunch
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