The Rhode Island AG’s Office withdrew its opposition to PPL’s acquisition of Narragansett Electric after reaching a settlement agreement with the company.

PPL officially completed the acquisition of Narragansett Electric from National Grid, immediately rebranding the utility as Rhode Island Energy.

PPL reported a positive first quarter during its earnings call after announcing earlier that it was raising its electricity rates in Pennsylvania by 38%.

The Rhode Island Division of Public Utilities and Carriers approved PPL's acquisition of Narragansett Electric from National Grid.

PPL’s stock price took a sharp hit when it announced during its Q4 earnings call that it was cutting dividends in half and missed earnings targets.

FERC approved PPL’s purchase of Narragansett Electric in Rhode Island from National Grid for $3.8 billion, giving the Pa.-based company a foothold in ISO-NE.