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Duke Energy completes sale of its Tennessee Piedmont Natural Gas business to Spire – Company Announcement
Duke Energy has completed the sale of its Tennessee Piedmont Natural Gas business to Spire for $2.48 billion, a transaction initially announced in July 2025. Approximately $800 million of the proceeds will be used to pay down debt for Piedmont Natural Gas, while the remaining $1.5 billion will fund Duke Energy’s $103 billion regulated capital plan over the next five years. This sale aims to support the company’s energy modernization strategy and efficiently fund its capital investments while ensuring continued reliable natural gas service to customers by Spire.