State regulators approve sale of Narragansett Electric to PPL Corporation
PROVIDENCE — State regulators have approved the multibillion-dollar sale of National Grid’s electric and natural gas business in Rhode Island to Pennsylvania-based PPL Corporation.
In a 337-page decision issued on Wednesday, the Division of Public Utilities and Carriers determined that based on the written evidence and oral testimony presented over the course of a nearly year-long regulatory proceeding the sale of what’s known as Narragansett Electric meets the standard set by state law – specifically that services will not be diminished under new ownership and that the $5.2-billion transaction is consistent with the public interest.
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Despite the concerns of intervening parties, including the office of Attorney General Peter Neronha and advocacy staff within the DPUC itself, hearing officer John Spirito, the deputy administrator of the division, ruled that ratepayer impacts were outside the consideration of the approval process for the sale.
Those issues rightly belong before the division’s sister agency, the Public Utilities Commission, which would consider proposed rate increases if and when they arise, Spirito concluded in the decision that was approved by DPUC administrator Linda George.
Spirito also found that issues raised around the state’s commitment to slash greenhouse gas emissions as part of a landmark law enacted last year were also outside the bounds of the docket.
While environmental advocates had called for the transaction to be contingent on PPL making definitive commitments to support the net-zero emissions goal of the Act on Climate, the division determined that efforts around decarbonization are the responsibility of the Executive Climate Change Coordinating Council, the group of state agency directors and staff tasked with crafting Rhode Island’s climate change policies.
More to come.
This article originally appeared on The Providence Journal: RI regulators approve sale of Narragansett Electric to PPL Corporation
