National Grid to buy WPD in strategic ‘pivot’ towards power

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.

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