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A subsidiary of Musk’s Tesla firm has been granted a license to provide electricity.
The news comes at it a critical time for the domestic retail market, with industry warnings that customer debts have hit £5.5 billion. Jim Watson/AFP via Getty Images
LONDON — Elon Musk has been granted a license to supply energy in the U.K.
Ofgem announced Thursday morning it has issued Musk-owned Tesla Energy Ventures with a license to provide electricity to U.K. businesses and households.
It brings a fresh contender into the supplier market, amid fears the global energy crisis will force up household bills.
The decision comes at the end of a seven-month approval process.
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