Tesla becomes a utility in the UK, setting up showdown with Octopus Energy

Posted:

Tesla is now an officially licensed utility in the United Kingdom, according to a new report from the Wall Street Journal. The automotive and energy company recently received a license from the Office of Gas and Electricity Markets, allowing it to sell electricity directly to households and commercial and industrial users.

The company has long dabbled in electricity markets. Its first pure energy products, the Powerwall and Powerpack, were introduced in 2015, but it wasn’t until a year later when Tesla merged with Solar City that it started scaling the division rapidly. In 2022, the company launched Tesla Electric in Texas, which allowed it to sell electricity directly to customers. Powerwall owners can sell electrons from their batteries to participate in the company’s virtual power plant.

The new division, known as Tesla Energy Ventures, will compete with existing utilities in the UK including EDF, E.ON, and Octopus Energy. The competition with Octopus should prove particularly interesting. Since it’s founding in 2015, Octopus has become the country’s largest utility by focusing on slick software, renewable energy, and creative marketing. Sound familiar?

Topics

Actively scaling? Fundraising? Planning your next launch?TechCrunch Founder Summit 2026 delivers tactical playbooks and direct access to 1,000+ founders and investors who are building, backing, and closing.Register by March 13 to save up to $300.

Subscribe for the industry’s biggest tech news

Every weekday and Sunday, you can get the best of TechCrunch’s coverage.

TechCrunch Mobility is your destination for transportation news and insight.

Startups are the core of TechCrunch, so get our best coverage delivered weekly.

Provides movers and shakers with the info they need to start their day.

By submitting your email, you agree to our Terms and Privacy Notice.