Duke Energy sells Tennessee natural gas operations to Spire for $2.5 billion

NASHVILLE, Tenn. (WZTV) — Duke Energy announced this morning that it is selling the Tennessee natural gas operations of Piedmont Natural Gas to Spire Inc. (Spire) for nearly $2.5 billion.

Spire is one of the largest publicly traded natural gas companies in the United States.

According to Duke Energy, approximately $800 million from the sale will be used to offset debt at Piedmont Natural Gas.

The remaining funds will contribute to Duke Energy’s five-year capital plan aimed at updating its infrastructure. Piedmont will continue to operate in North Carolina and South Carolina.

Duke Energy confirmed that the primary operations for Piedmont Natural Gas will remain in Nashville. Additionally, Duke Energy stated that employees who support the business will transition to Spire.

We look forward to welcoming their employees and customers, and becoming an active participant in the growing Nashville business community,” said Scott Doyle, president and chief executive officer of Spire.

*EDITOR’S NOTE: FOX 17 News first reported that all of Piedmont Natural Gas was being sold instead of the correct information that only the Tennessee natural gas operations are being purchased by Spire.*

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