Duke Energy Corporation
Duke Energy Announces Sale of Tennessee Natural Gas Business to Spire for $2.48 Billion
Summary
On July 27, 2025, Duke Energy Corporation announced that its subsidiary, Piedmont Natural Gas Company, has entered into an Asset Purchase Agreement to sell its Tennessee natural gas local distribution company business to Spire Inc. for $2.48 billion. The transaction, expected to close in Q1 2026, is subject to customary closing conditions, including regulatory approval. The proceeds will help fund Duke Energy's $83 billion five-year capital plan focused on energy modernization investments.
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About Duke Energy Corporation
Duke Energy Corporation is an American energy company with a focus on electric power generation and distribution. It stands as one of the largest electric power holding companies in the United States, servicing around 7.9 million customers across six states in the South and Midwest. With a diversified energy portfolio, Duke Energy operates an array of power plants including coal, natural gas, hydroelectric, and increasingly, renewable energy sources like wind and solar. This diversification enhances its resilience and ability to adapt to the evolving energy landscape. Duke Energy's primary role is generating, transmitting, and distributing electricity, it also makes strides in natural gas distribution and achieving carbon neutrality, with ambitious goals to reduce carbon emissions. The company plays a pivotal role in shaping energy policy and pursuing sustainable energy solutions, thereby impacting both economic growth and environmental stewardship across regions it serves. Headquartered in Charlotte, North Carolina, Duke Energy is integral to the energy infrastructure, influencing sectors from residential and commercial electricity to industrial energy needs.
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