Close the acquisition of The Narragansett Electric Company from National Grid
Delivered after the deadline (68 days after the deadline)
AI-confirmed · human review in progress Independent AI checks agreed on primary SEC or regulator evidence. Records are now being reviewed by hand, starting with those our customers order.
- Announced
- 18 Mar 2021
- Due
- 18 Mar 2022
- Delivered
- 25 May 2022
- Deadline
- Met
- Late
- Not met
- Today
What the company said
“the acquisition of Narragansett Electric is expected to close within a year. The transactions require customary approvals in the U.S. and U.K.”
What we found
Evidence strength A What the grades mean
The acquisition of Narragansett Electric closed on May 25, 2022, about two months after the March 18, 2022 deadline.
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A PPL Corporation 10-Q filed 2022-05-05
“covenants by National Grid U.S. to conduct the Narragansett Electric business in the ordinary course between the execution of 38 Table of Contents the Narragansett SPA and the closing of the acquisition.” ✓ confirmed on the page
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A PPL Corporation 10-Q filed 2022-08-03
“On May 25, 2022, PPL Rhode Island Holdings, a subsidiary of PPL, acquired 100% of the outstanding shares of common stock of Narragansett Electric from National Grid USA” ✓ confirmed on the page
Market reaction: the shares moved -4.9% against the S&P 500 over the three sessions around the disclosure (2 Aug 2022 to 5 Aug 2022). What this measures
Checked 16 Oct 2026.
Commitment lineage
Every time the company restated this commitment. The original is never changed, and the outcome is always measured against version 1.
- Deadline drift +13 days
- 4 versions
-
Version 1 · original · stated 18 Mar 2021
Deadline 18 Mar 2022 (“within a year”) · wording expected
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Version 2 · stated 5 Apr 2021
Deadline 5 Apr 2022 (“within one year”) · wording expected
“to acquire Narragansett Electric from National Grid. The transactions are expected to close within four months and one year, respectively”
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Version 3 · stated 6 May 2021
Deadline 31 Mar 2022 (“by March of next year”)
“remain confident in our ability to close the transaction by March of next year”
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Version 4 · stated 14 Jun 2021
Deadline 31 Mar 2022 (“by March 2022”) · wording expected
“PPL's planned acquisition of Rhode Island's primary electric and gas utility, The Narragansett Electric Company, from National Grid for approximately $3.8 billion — remains on track to close as expected by March 2022.”
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Version 5 · stated 5 Aug 2021
Deadline 31 Mar 2022 (“by March 2022”) · wording firm
“acquisition of Narragansett Electric on track to close by March 2022”
Commitment DNA
The structured record of this commitment. Fields the company did not state are left blank rather than guessed.
- Event type
- Acquisition close
- Indicative materiality
- High rules
- Action
- Close
- Deliverable
- Acquisition of The Narragansett Electric Company (Rhode Island utility)
- Where
- Rhode Island
- Language
- Expected (“expects”, “plans”)
- In the company’s control
- Medium
- Specificity
- Medium
- Conditional
- Yes: subject to customary regulatory approvals
- Depends on
- Regulatory, Government, Counterparty
How this entry was checked
- Commitment recordedThe company's words were matched word for word against the filing.
- First checkAn AI model, Claude (Anthropic), read the company's later filings and recorded the outcome with a quoted passage.
- Second check: agreesA different AI model, Gemini (Google), re-read the evidence without being told the outcome and reached the same answer.
Confirmed. This outcome counts towards the company's Kept Score. How verification works
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Report an error in this entry Reference: KI-C-2021-PPL-011791 · Corrections policy