PPL Corp. announced it has completed its acquisition of The Narragansett Electric Co. from National Grid for approximately $3.8 billion, net of purchase price adjustments, following receipt of all necessary approvals.
The Narragansett Electric Co., Rhode Island's primary electric and gas utility, will now be known as Rhode Island Energy, reflecting both the company's commitment to Rhode Island and its pursuit of a cleaner energy future in line with the state's renewable-energy and net-zero goals.
"We are pleased to welcome the Rhode Island Energy team into the PPL family of companies, and we consider it an absolute privilege to serve the energy needs of Rhode Islanders," said Vincent Sorgi, president and chief executive officer at PPL.
"Since announcing the acquisition in March 2021, we have been working closely with key stakeholders and National Grid in an effort to facilitate a smooth transition of services and to strengthen our understanding of the nee
