PPL Corporation has acquired The Narragansett Electric Company from National Grid for approximately $3.8 billion. The Narragansett Electric Company will now be known as Rhode Island Energy.

Rhode Island Energy provides essential energy services to over 770,000 homes and businesses.

“We are pleased to welcome the Rhode Island Energy team into the PPL family and consider it an absolute privilege to serve the energy needs of Rhode Islanders,” said Vincent Sorgi, CEO of PPL.