On November 16, 2023, a newly formed company called Tesla Energy Ventures Australia Pty Ltd (TEVA) submitted an application to the Australian Energy Regulator for authorization to be an electricity retailer in Australia under the National Energy Retail Law.
The AER accepted TEVA’s application. It is now seeking submissions from stakeholders on TEVA’s application. AER will accept submissions from stakeholders until Monday, December 18, 2023.
Tesla referred to its successful track record in deploying large-scale batteries globally in its application. Tesla specifically mentioned its proven capabilities in providing grid support in Australia with the Hornsdale Power Reserve and the Victorian Big Battery.
The company states it has formed many partnerships in Australia—including the CEFC, ARENA, SA Government, and Energy Locals—as it provided energy retail products for public housing through a Virtual Power Plant.
“When a customer joins the VPP, their system is managed by Tesla as part of a network of homes to support the electricity network by providing essential grid services while also rewarding customers.
“Currently, Tesla’s SA VPP and TEP offerings are made available to retail customers through Energy Locals Pty ACN 606 408 879. With this application TEVA is seeking to obtain an electricity retailer authorization under the National Energy Retail Law so that it can be the provider and retailer itself of the TEP offering in New South Wales, Australian Capital Territory, Queensland, Tasmania, and South Australia. TEVA is concurrently applying to the Essential Services Commission for a license to sell electricity in VIC,” noted TEVA in its application.
Based on the company’s application, TEVA will function similarly to Tesla Electric in Texas. Tesla Electric uses the Powerwall to reduce the stress on Texas’ grid by allowing renewable energy generated through solar panels to flow through the grid. Tesla Electric enables homeowners to help the grid and earn credits to reduce their electricity bills.
Read Tesla’s application to AER below.