PPL, a utility holding company, completed the acquisition of Narragansett Electric, a retail distribution company that provides electric and gas services, from National Grid, an owner and operator of the electricity transmission network, for $3.8bn. "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," Vincent Sorgi, PPL President and CEO.