Tesla set to sell electricity in Britain

Tesla set to sell electricity in Britain

12 Jul    Finance News, News

Tesla is preparing to shake up the British energy market by launching a retail provider and selling electricity to households.

Elon Musk’s electric carmaker, which also has an energy business, is seeking an executive to lead its drive into the UK.

The head of operations for Tesla Electric will take charge of trying to obtain a supply licence and prepare the business for a “commercial launch of a retail electricity product in the UK”, according to a job advert.

Tesla’s energy generation and storage business includes both solar panels and stationary batteries. The group initially launched its Tesla Electric retail energy business on an invitation-only basis late last year in some markets in Texas, home to its headquarters.

Tesla Electric, available to owners of its Powerwall home batteries, has been pitched as a buffer against peak prices. It sells electricity to customers and sells back their excess electricity to the grid when prices are high.

The advert for an executive to lead the unit’s British arm, initially reported by The Daily Telegraph, made clear that the successful candidate would have “operational responsibility for our retail electricity activities in the UK”.

“This includes responsibility for managing our market entry, and building out the team, systems and processes needed to start operations,” according to the job description.

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