Overview

• Tesla Energy Ventures filed an electricity-only supply licence application with Ofgem in late July, as documented on the regulator’s website and signed by European energy director Andrew Payne.
• Ofgem’s review period can last up to nine months, so a licence grant could allow Tesla to launch its UK retail service by mid-2026.
• The application excludes gas supply and signals Tesla’s intent to brand the venture as ‘Tesla Electric,’ targeting owners of its vehicles and home batteries.
• The push into energy retail follows an almost 60% drop in UK Tesla registrations in July, prompting the company to diversify around its installed base of over 250,000 EVs and tens of thousands of Powerwalls.
• Tesla aims to replicate its Texas model, which offers coordinated charging and payments for surplus power from home batteries fed back into the grid.