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      duknatgas

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      Duke Energy completes sale of its Tennessee Piedmont Natural Gas business to Spire

      • Close of transaction previously announced in July 2025
      • Proceeds to help fund industry's largest regulated capital plan

      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.

      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.

      "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 ...

      Full story available on Benzinga.com


      Source: Benzinga
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