Tesla (TSLA) Gets Go-Ahead for UK Home Power Supply — A Bullish Spark for the Stock?

Tesla TSLA +2.15% ▲ is now one step closer to its goal of supplying British homes with electricity. On Thursday, the UK’s energy regulator confirmed that it has approved the U.S. electric vehicle maker’s license application.

Claim 70% Off TipRanks Premium

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions

• Stay ahead of the market with the latest news and analysis and maximize your portfolio’s potential

The move did not move investors, as Tesla’s shares continued to flirt with the red zone in early Thursday trading. However, the approval comes as Tesla continues to see patchy results in its efforts to reverse sales decline in Europe.

This includes the UK, where the automaker sold 37% fewer vehicles last month compared to the same period in 2025. Sales also fell in the Netherlands and Denmark but rose in France, Norway, and Spain, for instance.

Tesla Energy Ventures, Tesla’s retail electricity supply arm, applied in July to the Office of Gas and Electricity Markets (Ofgem) to enter the UK energy supply market last year — a move that could see it take on market leaders such as Centrica CNA +0.80% ▲ , the owner of British Gas, and Octopus Energy.

In addition, the move could provide a boost for the company, considering its existing infrastructure advantage and the fact that its subsidiary, Tesla Motors Limited, already holds an electricity generation license granted by Ofgem in 2020. Moreover, the automaker’s energy arm, Tesla Energy, already sells solar technology and battery storage units in Europe’s second-largest market.

Disclaimer & DisclosureReport an Issue