Duke Energy concludes $2.48 billion divestment of Tennessee gas assets to Spire
ByTheEnergyMag AI
••1 min read
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Key Takeaways
- Duke Energy completed the sale of its Tennessee Piedmont Natural Gas business to Spire for $2.48 billion.
- Approximately $800 million of the proceeds will be used to pay down debt at Piedmont Natural Gas.
- The remaining $1.5 billion in net proceeds will help fund Duke Energy's $103 billion five-year regulated capital plan.
- The divested assets include nearly 3,800 miles of pipeline serving over 200,000 customers in Tennessee.
