The Narragansett Electric Company to join PPL Corporation

National Grid plc (LSE: NG, NYSE: NGG) today announced its agreement to acquire Western Power Distribution, the UK’s largest electricity distribution business, from PPL Corporation (NYSE: PPL) for an equity value of £7.8 billion. In parallel, with PPL wishing to expand its presence in the U.S., National Grid has agreed to PPL acquiring The Narragansett Electric Company, National Grid’s electric and gas business serving customers in Rhode Island, for an equity value of US$3.8 billion (£2.7 billion). National Grid and PPL share a purpose-driven culture and core values, which will enable a seamless transition for colleagues, customers, and communities.

As part of today’s announcement, National Grid has also announced that it will look to sell a majority stake in its National Grid Gas Transmission business in the U.K.

The full announcement detailing the transaction terms is available at

Narragansett Electric is the largest electricity transmission and distribution service provider to Rhode Island, as well as a natural gas distributor in the state, serving approximately 780,000 customers. PPL, headquartered in Allentown, Pennsylvania, provides essential energy services to approximately 2.7 million customers. Like Narragansett Electric, PPL is committed to providing safe and reliable service for customers, and PPL is consistently ranked among the best utilities in the regions in which it serves.

Badar Khan, President of National Grid U.S., said:

"We are proud of our Narragansett Electric colleagues and their success in building a strong, responsible business. Narragansett Electric will be joining a team at PPL that remains safety-driven, locally focused, and committed to the communities we serve. We are confident of a seamless transition, uninterrupted service, and ongoing support of our customers and teams.

The U.S. remains the strongest geographic contributor to National Grid’s growth and is a critical driver of our strategy.”

John Pettigrew, Chief Executive of National Grid, said:

“Narragansett Electric has always had a reputation for high performance, and PPL is gaining a world-class operation. Western Power Distribution presented a unique opportunity for National Grid to achieve scale in U.K. electricity distribution, a key component of our strategy to be at the heart of a clean, fair, and affordable energy future. Similarly, Narragansett Electric was a coveted business by PPL. We are pleased that this announcement is enabling two highly motivated operators to connect with two high-quality businesses in furtherance of our respective visions.

National Grid will continue to have a diversified portfolio of assets across the U.K. and U.S. markets.

I want to personally thank our colleagues at Narragansett Electric for their hard work, stellar service to customers, and dedication to providing safe and reliable energy to the communities they serve. We are confident in PPL’s ability to continue operating this business in a manner that serves Narragansett Electric’s communities, customers, and stakeholders well.”

The transactions are conditional upon the approval of National Grid shareholders at a General Meeting. In addition, completion of the Western Power Distribution acquisition and the Narragansett Electric transaction are conditional on regulatory approval, which is expected within 4 months in the case of Western Power Distribution and 9-12 months in the case of Narragansett Electric.

On approval, there will be a Transition Services Agreement to support PPL with timelines to ensure a seamless transition for Rhode Island customers and employees. The majority of Narragansett Electric’s employees will remain with Narragansett Electric as the company transfers ownership to PPL, including all the members of UWUA Local 310, UWUA Local 310B and USW Local 12431.

About National Grid

National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts, and Rhode Island. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions.

For more information, please visit our website, follow us on Twitter, watch us on YouTube, friend us on Facebook, and find our photos on Instagram.

About PPL

Headquartered in Allentown, Pennsylvania, PPL Corporation (NYSE: PPL) is one of the largest companies in the U.S. utility sector. PPL’s seven high-performing, award-winning utilities serve more than 10 million customers in the U.S. and U.K. With more than 12,000 employees, the company is dedicated to providing exceptional customer service and reliability and delivering superior value for shareowners. To learn more, visit


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