November 24, 2024
Tesla Gets OK to Sell Power in Texas
Tesla has regulatory approval to begin selling electricity in Texas.
Tesla has regulatory approval to begin selling electricity in Texas. | Tesla
The Texas Public Utility Commission has given a Tesla subsidiary permission to begin selling electricity to retail customers.

Texas regulators have given a Tesla subsidiary permission to begin selling electricity to retail customers as company CEO Elon Musk continues to expand his presence in the state.

The Texas Public Utility Commission filed an order on Wednesday granting Tesla Energy Ventures a retail electric provider certificate that allows it to provide retail services in the competitive ERCOT market. The order requires Energy Ventures to continuously maintain an office within Texas to comply with state regulations.

The company applied for the certificate in August and provided a balance sheet that demonstrated shareholder equity of at least $1 million, the PUC said. The application also included the resume of at least one principal employee with five years of experience in energy commodity risk management of a substantial energy portfolio.

Texas Monthly broke the news of Tesla’s plans in August. The company is also building two utility-scale batteries that will serve wholesale power customers.

Musk announced in October that he would be moving the company’s headquarters from California to Austin, Texas. The company is building a Gigafactory in the city and already owns more land in Austin than anyone else.

Musk also helped found SpaceX, which has a launch site in Boca Chica on the southern Texas Gulf Coast.

Company NewsPublic Utility Commission of Texas (PUCT)Texas

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