National Grid has agreed to buy electricity distribution network Western Power Distribution (WPD) for £7.8 billion, whilst also selling the Rhode Island based Narragansett Electric Company to WPD’s US owner PPL Corporation for $3.8 billion (£2.7 billion). The group has additionally announced plans to sell a majority stake in its gas transmission business National Grid Gas and said the transactions will “strategically pivot” its UK portfolio towards power.
National Grid to buy WPD in strategic ‘pivot’ towards power
