State Appeals National Grid Deal

The Rhode Island Attorney General's Office is appealing the approval of the sale of National Grid by the state's Division of Public Utilities and Carriers.

The A.G.'s office is concerned that Pennsylvania-based PPL Corp. will not do enough to meet the standards of the Rhode Island Act on Climate, which was updated in 2021.

PPL is acquiring United Kingdom-based National Grid's Rhode Island business, known as Narragansett Electric Company, in a deal worth about four-billion dollars.

"PPL is capable of creating an effective storm response without increasing costs to ratepayers; PPL can provide necessary IT services without increasing costs to ratepayers; and PPL can effectively work with the state to meet emissions and other goals required by the Act on Climate," Attorney General Peter Neronha said.

" Additionally, the decision did not consider whether PPL had a viable post-transaction financial plan, nor was one submitted. I am not alone in raising these issues —the DPUC’s own attorneys and experts expressed serious unresolved concerns about this transaction during the hearing before the DPUC."

"Furthermore, I am concerned about the legal standard that was used by the hearing officer in reaching the decision – a legal standard that creates a low threshold for approval of these significant transactions that would potentially leave Rhode Islanders at future risk," according to the Attorney General.

The attorney general's appeal was filed in Rhode Island Superior Court after state regulators approved the sale on Wednesday.

(Photo by Getty Images)

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