These commitments include employee retention for at least 12 months and no significant change to the ownership and operation of electric and gas distribution assets. The Rhode Island Division of Public Utilities and Carriers adopted 'all of the commitments' made by Pennsylvania-headquartered PPL as part of the merger application. PPL and National Grid had achieved four of the five regulatory approvals needed to close the Rhode Island utility's sale prior to PPL's earnings call.

18 after a fourth-quarter 2021 earnings call during which executives offered 'no guarantee' the deal would receive approval by a Feb. In turn, PPL management earmarked a portion of the $10.4 billion in net proceeds for the company's $5.3 billion acquisition of National Grid's Narragansett Electric. distribution utility, Western Power Distribution PLC, to National Grid for £7.8 billion in cash in June 2021. The transaction is part of a March 2021 asset swap agreement with London-headquartered National Grid PLC through which PPL completed the sale of its U.K.

23 approving a joint petition filed by PPL, National Grid USA and Narragansett Electric seeking authority to transfer ownership of the electric utility to an entity called PPL Rhode Island. The Rhode Island Division of Public Utilities and Carriers issued a report and order Feb. secured the final regulatory approval needed to close its acquisition of Rhode Island utility Narragansett Electric Co.

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