NEWS COMMENTARY

Tesla receives electricity generation license in the U.K.

Published:
June 18, 2020
Coverage:
Owning the Energy Transition More...
Activities:
Strategy
Average importance

The Office of Gas and Electricity Markets (Ofgem) in the U.K. granted an electricity generation license to Tesla Motors, taking a step closer toward becoming an energy services company in the country. While Tesla doesn't own or operate traditional generation capacity, it offers stationary storage systems for utility-scale and behind-the-meter applications as well as software that can manage and optimize these assets by means of application stacking. Tesla is likely positioning itself to play a role as a virtual power plant (VPP) aggregator in the U.K., a country ripe to take full advantage of VPPs; although Tesla is not alone, it is joining the vast number of players in the country.

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