Spire to Acquire Piedmont Natural Gas Business from Duke Energy for $2.48 Billion

Spire Inc. has agreed to acquire Duke Energy's Tennessee Piedmont Natural Gas business for $2.48 billion, expanding Spire's utility footprint to nearly two million homes and businesses. The acquisition is expected to close in Q1 2026, pending regulatory approvals. Spire plans to serve Nashville area customers through a new business unit, Spire Tennessee. The deal is accretive to adjusted earnings per share and supports long-term growth.