Tesla Is Seeking To Become Electricity Provider in UK

by Eva Fox May 02, 2020

Tesla Is Seeking To Become Electricity Provider in UK

The UK publication The Telegraph reviewed a document filed by Tesla, in which the automaker took its first step towards becoming an energy supplier in the UK.

Analysts predict that this could shake the country's energy landscape, because an electric vehicle company turned to the UK energy regulator for a license to produce electricity.

Industry sources, who have built a significant battery business in recent years, say Tesla is currently preparing to enter the UK market with its technology.

The company was very successful in the energy market in Australia, producing the world's largest lithium-ion energy storage facility, capable of storing enough energy to power 30,000 homes.

Experts predict that such large batteries will be needed in the future to control demand for electricity, as the use of fossil fuels is gradually reduced.

Another objective for a license may be to introduce the Autobidder platform. Acting as an intermediary, the platform collects renewable energy generators and trades their energy.

Tesla also works closely with the supplier of energy Octopus Energy to offer a tariff specifically designed for electric vehicle owners.

“If you are a manufacturer of electric vehicles, you’d think they’d be very interested in offering an energy plan too,” said Martin Young, a power analyst at Investec.

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