Elon Musk's electric vehicle manufacturer and energy company Tesla is preparing to supply electricity to British households and businesses.

The Texas-based company formally submitted its request for an electricity license to the British energy regulator Ofgem at the end of last month, according to a notice on the watchdog's website.

If approved, the move could pave the way for Tesla to compete with the big firms that dominate the U.K. energy market from as soon as next year.

The application , first reported by the Sunday Telegraph, came from Tesla Energy Ventures and was signed by Andrew Payne, who runs the firm's European energy operations.

Tesla, which is best known as one of the world's leading EV manufacturers, also develops solar energy generation systems and batte

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