Business
Duke Energy completes sale of its Tennessee Piedmont Natural Gas business to Spire
Duke Energy (NYSE: DUK) today announced it has completed the sale of its Tennessee Piedmont Natural Gas business to Spire – one of the largest publicly traded natural gas companies in the country – for $2.48 billion. The agreement was previously announced on July 29, 2025.
About this update from Duke Energy Corporation (holding Company)
[{"type":"list","items":[{"val":[{"type":"text","content":"Close of transaction previously announced in July 2025","length":54,"tagName":"p"}]},{"val":[{"type":"text","content":"Proceeds to help fund industry's largest regulated capital plan ","length":67,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":121,"olType":false},{"type":"text","content":"CHARLOTTE, N.C., March 31, 2026 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced it has completed the sale of its Tennessee Piedmont Natural Gas business to Spire – one of the largest publicly traded natural gas companies in the country – for $2.48 billion. The agreement was previously announced on July 29, 2025.","length":321,"tagName":"p"},{"type":"image","alt":"Duke Energy logo (PRNewsfoto/Duke Energy)","displaySize":"","headline":null,"caption":"Duke Energy logo (PRNewsfoto/Duke Energy)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":128,"url":"https://media.zenfs.com/en/prnewswire.com/829a69c01f1ce34f867ba8075a40a22b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/9ygjYA8F81GhZ4AnTAZ7Pw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIyNg--/https://media.zenfs.com/en/prnewswire.com/829a69c01f1ce34f867ba8075a40a22b","width":400,"height":128}},"href":"https://mma.prnewswire.com/media/660545/Duke_Energy_New_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Approximately $800 million of the proceeds will be used to pay down debt at Piedmont Natural Gas to maintain its capital structure. The remaining $1.5 billion proceeds, net of tax, will help efficiently fund the industry's largest regulated capital plan – $103 billion of investments over the next five years – to support a growing system and serve increasing load while keeping customer costs as low as possible.","length":417,"tagName":"p"},{"type":"text","content":""Today marks a significant milestone with the successful transition of our Tennessee natural gas business to Spire," said Harry Sideris, Duke Energy president and chief executive officer. "As we enter a period of record investment, this transaction helps efficiently fund our capital plan – a plan built on safely and reliably meeting our communities' growing energy needs while managing costs for our more than 10 million customers."","length":458,"tagName":"p"},{"type":"text","content":"Sideri...