The distribution business, called Central Networks, operates the regional grid that covers the UK’s Midlands area.
Central Networks delivers electricity to over five million customers through its network of about 133,000 kms of overhead and underground cables.
PPL chairman, president and CEO James Miller said that this acquisition expands PPL’s UK business into a very strategic and core element of the company’s overall regulated utility business platform.
The transaction is expected to be closed in early April this year.
E.ON sold the UK distribution business as part of its plan to sell off EUR15bn of assets by 2013.
