Overview

• Tesla Energy Ventures formally submitted an electricity supply licence application to Ofgem in late July, signed by Andrew Payne.
• The proposed retail service, likely branded Tesla Electric, would focus solely on electricity and integrate charging for Tesla vehicles and Powerwall batteries.
• Ofgem’s review process can take up to nine months, suggesting a possible market launch by mid-2026 if approved.
• The plan is expected to mirror Tesla’s Texas model by offering virtual power-plant features that pay customers for feeding surplus stored energy back to the grid.
• The push into energy retail comes after UK Tesla registrations plunged nearly 60% year-on-year in July, driving the company to seek new revenue streams.