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PPL Corporation completes acquisition of Rhode Island’s primary electric and natural gas utility

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PPL Corporation completes acquisition of Rhode Island’s primary electric and natural gas utility


  • Acquisition of The Narragansett Electrical Firm completes PPL’s strategic repositioning as U.S.-focused vitality firm poised to ship vital worth for purchasers and shareowners.
  • The Narragansett Electrical Firm operations to be instantly rebranded as Rhode Island Power.
  • Addition of Rhode Island Power expands alternatives to leverage PPL’s confirmed working mannequin and innovation to assist the clear vitality transition.

ALLENTOWN, Pa., Might 25, 2022 /PRNewswire/ — PPL Company (NYSE:PPL) introduced at this time it has accomplished its acquisition of The Narragansett Electrical Firm from Nationwide Grid for roughly $3.8 billion, web of buy worth changes, following receipt of all essential approvals.

The Narragansett Electrical Firm, Rhode Island’s main electrical and fuel utility, will now be referred to as “Rhode Island Power,” reflecting each the corporate’s dedication to Rhode Island and its pursuit of a cleaner vitality future in step with the state’s renewable vitality and net-zero objectives.

“We’re happy to welcome the Rhode Island Power staff into the PPL household of corporations, and we contemplate it an absolute privilege to serve the vitality wants of Rhode Islanders,” mentioned Vincent Sorgi, PPL president and chief government officer.

“Since asserting the acquisition in March 2021, we now have been working intently with key stakeholders and Nationwide Grid in an effort to facilitate a clean transition of companies and to strengthen our understanding of the wants of shoppers in these communities,” continued Sorgi. “We’re excited to deliver to Rhode Island our confirmed working mannequin, which emphasizes innovation, customer support and reliability.”

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Rhode Island Power will proceed to ship the secure and dependable service that prospects count on, and the acquisition features a two-year transition companies settlement with Nationwide Grid to offer continuity of operations as Rhode Island Power transitions to PPL techniques and processes.

The corporate will probably be led by a Rhode Island-based president and a powerful native management staff, with greater than 1,100 Rhode Island staff. PPL will probably be establishing a management heart in Rhode Island for the state’s electrical and fuel operations, in addition to a brand new buyer name heart.

“No job we do will probably be extra vital than delivering for our Rhode Island prospects, and we’re happy to have an skilled staff comprised of PPL and former Nationwide Grid staff that’s dedicated to offering distinctive service,” mentioned Dave Bonenberger, president of Rhode Island Power.

“The PPL title could also be new right here in Rhode Island, however our corporations have been offering important vitality companies to prospects in Pennsylvania and Kentucky for over 100 years,” continued Bonenberger. “We’re dedicated to delivering secure, dependable and reasonably priced vitality whereas advancing a cleaner vitality future in the entire communities we serve. We sit up for delivering for Rhode Island prospects as effectively.”

Rhode Island prospects are inspired to study extra by visiting rienergy.com/hello.

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Acquisition completes PPL’s strategic repositioning

This acquisition concludes the second of two strategic transactions introduced in March 2021 to reposition PPL as a U.S.-focused vitality firm to ship sustainable development and lead the clear vitality transition whereas sustaining reasonably priced, dependable service for purchasers. In June 2021, PPL accomplished the sale of its U.Okay. utility enterprise to Nationwide Grid, attaining distinctive worth of almost $11 billion.

Trying forward, administration plans to offer further particulars on the up to date technique for the brand new PPL, together with its monetary outlook reflecting the contribution of Rhode Island Power, throughout a digital investor day. A proper announcement with the occasion particulars will comply with in a subsequent launch.

About PPL Company

PPL Company (NYSE:PPL), primarily based in Allentown, Pennsylvania, is a number one U.S. vitality firm centered on offering electrical energy and pure fuel safely, reliably and affordably to three.5 million prospects within the U.S. PPL’s high-performing, award-winning utilities are addressing vitality challenges head-on by constructing smarter, extra resilient and extra dynamic energy grids and advancing sustainable vitality options. For extra data, go to www.pplweb.com.

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About Rhode Island Power

Rhode Island Power offers important vitality companies to over 770,000 houses and companies throughout Rhode Island by means of the supply of electrical energy and pure fuel. Our staff is devoted to serving to Rhode Island prospects and communities thrive, whereas supporting the transition to a cleaner vitality future. Rhode Island Power is a part of the PPL Company (NYSE: PPL) household of corporations addressing vitality challenges head-on by constructing smarter, extra resilient and extra dynamic energy grids and advancing sustainable vitality options. For extra data go to www.RIEnergy.com and keep linked on Twitter, Fb, and Instagram.  

Observe to Editors: Go to our media web site at www.pplnewsroom.com for added information about PPL Company.

Contacts:

For information media: Ryan Hill, 610-774-4033

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For monetary analysts: Andy Ludwig, 610-774-3389

 

View authentic content material to obtain multimedia:https://www.prnewswire.com/news-releases/ppl-corporation-completes-acquisition-of-rhode-islands-primary-electric-and-natural-gas-utility-301555014.html

SOURCE PPL Company

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Rhode Island

Up to $5,000 reward offered for tips on who dumped emaciated dog’s body in trash bag in Rhode Island

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Up to ,000 reward offered for tips on who dumped emaciated dog’s body in trash bag in Rhode Island


Lincoln, RI – PETA is offering a reward of up to $5,000 for information that leads to the arrest and conviction on cruelty charges of the person(s) responsible for dumping a dead dog at Barney’s Pond on Smithfield Avenue.

On December 14, the Lincoln Police Department responded to a report of a dead animal in a trash bag in the parking lot of the pond and discovered the body of a severely emaciated dog with visible signs of trauma. They believe the body was left between the evening of December 13 and the morning of December 14. A white Toyota RAV4 may be connected to the case and is considered a vehicle of interest.

Police are searching for this vehicle of interest, a Toyota RAV4. Photo: Lincoln Police Department

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No leads or suspects have been identified, so PETA is asking for the public’s help.

“This poor dog was apparently starved, abused, and then dumped on the side of the road like garbage,” says PETA Senior Vice President Colleen O’Brien. “There may be other animals in the perpetrator’s possession, so PETA asks anyone with information to come forward immediately—other lives may depend on it.”

Anyone with information about the deceased dog or the vehicle should contact Detective Lieutenant Brad Stewart at 401-333-8485.



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Rhode Island

The Miriam Hospital In Providence Getting Key Upgrades

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The Miriam Hospital In Providence Getting Key Upgrades


PROVIDENCE, RI — The Miriam Hospital in Providence will undergo a renovation project, which will upgrade its emergency department and inpatient units, hospital officials said Monday.

The upgrades were approved with a certificate of need from the Rhode Island Department of Health (RIDOH) based on a recommendation from RIDOH’s Health Services Council, a spokesperson for Brown University Health, which owns the hospital, said.

“Receiving this approval marks a crucial step forward in our steadfast commitment to delivering exceptional patient care and advancing medical excellence,” Miriam Hospital President Maria Ducharme said. “Our current building, now over 100 years old, can no longer adequately support the demands of modern patient care. In addition, our emergency department is a fragmented space that no longer supports efficient patient flow and the highest levels of communication we strive to deliver to those who have come to rely on us for their care. These much-needed renovations will create a safe, comfortable, environment that prioritizes the health and well-being of our community.”

Work is scheduled to begin spring 2025 and will be carried out in three phases throughout the next three years. Hospital officials said this phased approach is designed to minimize disruptions to ongoing patient care and the surrounding communities.

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The first phase will involve demolishing the hospital campus’s oldest building to create space for a new emergency department and private patient rooms. The renovation project has an estimated cost of $125 million for completion, the majority which will be funded through a centennial capital fundraising campaign.

“As a cornerstone of our community, the Miriam Hospital has always been committed to delivering exceptional care,” Brown University Health President John Fernandez said. “This investment reflects Brown University Health’s unwavering dedication to modernizing our facilities, advancing healthcare and improving outcomes for everyone we serve.”

Have a news tip? Email jimmy.bentley@patch.com.



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Here’s How Much Minimum Wage Will Go Up In RI On Jan. 1

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Here’s How Much Minimum Wage Will Go Up In RI On Jan. 1


RHODE ISLAND — Minimum wage workers in Rhode Island are among about 9.2 million nationwide who will get a pay bump in 2025.

The pay raises taking effect Jan. 1 will increase worker pay by about $5.7 billion in the 21 states that are boosting the minimum wage, according to an analysis from the Economic Policy Institute, a nonprofit think tank that analyzes the economic effect of policies on primarily low- and middle-income families.

In Rhode Island, the minimum wage will increase in 2025 to $15 an hour, up from $14 an hour in 2024. The tipped minimum wage stayed the same at $3.89 an hour.

The raises will increase 2025 pay for minimum wage workers in Rhode Island by about $46.5 million — or an average of $767 a year.

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About 13.6 percent of the workforce and about 65,100 Rhode Island residents are directly or indirectly affected by the minimum wage hikes. About 33,300 children — 16.1 percent of all children in Rhode Island — live in households where a minimum wage worker lives.

Nationwide, more than a quarter (25.7 percent) of workers getting a minimum wage pay increase are parents, and more than 5.8 million children live in households where an individual will receive a minimum wage hike, the analysis said.

One in five (20.4 percent) of affected workers are in families with incomes below the poverty line, and nearly half (48.5 percent) have family incomes below twice the poverty line.

Teenagers are often disproportionately likely to become minimum wage workers, the analysis said, but about 88 percent of those getting raises are adults. Among them, about half are full-time workers.

Of all adult workers getting a minimum wage bump in 2025, 41.4 percent have completed at least some education beyond a high school degree.

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In addition to Rhode Island, others among the 21 raising the minimum wage in 2025 are Alaska, Arizona, California, Colorado, Connecticut, Delaware, Illinois, Maine, Michigan, Minnesota, Missouri, Montana, Nebraska, New Jersey, New York, Ohio, South Dakota, Virginia, Vermont and Washington.

In addition, about 48 cities and counties, mostly in California, Colorado and Washington, are raising wages above their state minimum wage floors.

Most minimum wage hikes taking effect Jan. 1 are a result of state laws that tie minimum wage increases to inflation. The raises are automatic in 13 of the states and effect about 56.2 percent of workers getting raises.

Have a news tip? Email jimmy.bentley@patch.com.



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