Rhode Island Energy will continue to deliver the safe and reliable service that customers expect, and the acquisition includes a two-year transition services agreement with National Grid to provide continuity of operations as Rhode Island Energy transitions to PPL systems and processes. “We are excited to bring to Rhode Island our proven operating model, which emphasizes innovation, customer service and reliability.” “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 needs of customers in these communities,” continued Sorgi. “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, PPL president and chief executive officer. The Narragansett Electric Company, 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. PPL Corporation announced today it has completed its acquisition of The Narragansett Electric Company from National Grid for approximately $3.8 billion, net of purchase price adjustments, following receipt of all necessary approvals.
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