Prnewswire·2026-03-31 20:30Core Viewpoint - Spire Inc. has successfully completed the acquisition of Piedmont Natural Gas business in Tennessee from Duke Energy for $2.48 billion, significantly expanding its regulated utility footprint in the region [1][2]. Company Overview - Spire Tennessee will operate as the largest investor-owned natural gas utility in Tennessee, serving over 200,000 customers and managing nearly 3,800 miles of distribution and transmission pipelines [2][3]. - The acquisition aligns with Spire's strategy to enhance its core utility business and is expected to represent approximately 20% of its capital investment plan through 2030, supporting long-term adjusted earnings per share growth of 5-7% [3][6]. Transition and Integration - The transition of Piedmont's Tennessee operations to Spire is marked by a commitment to seamless integration for customers, employees, and the community [6][7]. - Over 200 employees from Piedmont will continue their roles under Spire Tennessee, with additional recruitment efforts underway to support the business [5][6]. Community Engagement - Spire plans to continue its tradition of supporting civic and charitable activities in Tennessee, bringing its Spire Serves program to the region [6][7]. - The company emphasizes its long-standing commitment to delivering reliable natural gas service and maintaining high standards of customer service and safety [3][4].