Duke Energy purchase of Piedmont Natural Gas to close Monday - | WBTV Charlotte

Duke Energy purchase of Piedmont Natural Gas to close Monday

(Source: WBTV/File) (Source: WBTV/File)
CHARLOTTE, NC (Rick Rothacker/The Charlotte Observer) -

Charlotte-based Duke Energy said Thursday it expects to close its purchase of Piedmont Natural Gas on Monday after the North Carolina Utilities Commission gave its approval of the deal.

“This combination provides clear benefits to our customers and the environment as we continue to expand our use of low-cost and clean natural gas and invest in pipelines,” said Lynn Good, Duke’s CEO in a statement. “We have enjoyed an excellent relationship with Piedmont’s team for years, and we are eager to welcome them to Duke Energy in the coming days.”

Duke is buying Charlotte-based Piedmont, a natural gas distributor, for about $4.9 billion in cash. It’s also assuming $1.8 billion in existing Piedmont debt.

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