March 12 (UPI) -- The United Kingdom's energy regulator on Thursday granted Elon Musk's Tesla a license to supply British domestic and business customers with electricity.
The license permits Tesla to supply electricity in England, Scotland and Wales with the company expected to offer a version of its "virtual power plant" operation in Texas where Tesla owners get low rates to charge their vehicles and "Powerwall" batteries and can return any surplus to the grid for bill credits.
Tesla currently partners with London-headquartered Octopus Energy, one of the country's big six utilities, to make the Powerwall system available to the more than 250,000 Britons who own a Tesla vehicle.
Most households are on a so-called "dual-fuel" contract where their energy supplier provides them with both electricity and gas at a discounted rate for buying both fuels and it was unclear how Tesla would replicate this business model as an electricity-only supplier.
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