Tesla to Sell Electricity in the UK Market

Tesla Enters the British Energy Market with Plans for a Retail Energy Business

Tesla, the electric carmaker founded by Elon Musk, is making a foray into the British energy market. The company has announced plans to launch a retail energy business in the UK, following the success of its Tesla Electric service in some markets in Texas.

Initially launched on an invitation-only basis, Tesla Electric offers a service for Powerwall home battery owners, designed to mitigate peak prices. The service allows Tesla to sell electricity to customers and buy back their excess electricity when prices are high. The business includes both solar panels and stationary batteries, making it part of Tesla's broader energy generation and storage business.

Andrew Payne, who runs Tesla’s European energy operation, will lead the operations of Tesla Electric in the UK. The commercial launch of Tesla's retail energy product is expected in 2026, potentially as early as next year if the Ofgem licence application is approved within nine months.

The executive role for Tesla's drive into the UK energy market is currently being advertised. The successful candidate will have operational responsibility for Tesla Electric's retail electricity activities in the UK. Their responsibilities will include obtaining a supply license, preparing the business for a commercial launch of a retail electricity product, and managing market entry. They will also be tasked with building out the necessary team, systems, and processes for operations in the UK.

The job advert for the executive role in the UK arm of Tesla Electric's retail electricity activities was initially reported by The Daily Telegraph. Tesla's entry into the British energy market is a significant move for the company, and it will be interesting to see how it unfolds in the coming months.

The Tesla Electric retail energy business was launched late last year, initially in some markets in Texas. It is planned to be launched in the UK, marking Tesla's expansion into a new market. With its focus on renewable energy and energy storage, Tesla is well-positioned to make a positive impact on the UK's energy sector.