CHARLOTTE, N.C., Oct. 3, 2016 /PRNewswire/ -- Duke Energy has
completed its acquisition of Piedmont Natural Gas, closing the
transaction effective today.
Piedmont will retain its name
and operate as a business unit of Duke Energy. Both companies are
headquartered in Charlotte.
The acquisition will add Piedmont's 1 million natural gas customers to
Duke Energy's existing customer base of 525,000 natural gas
customers and 7.4 million electric customers.
"Uniting Duke Energy with Piedmont Natural Gas is a powerful
combination for our customers and the communities we serve," said
Lynn Good, chairman, president and
CEO of Duke Energy.
Customers can continue to do business with both Piedmont and Duke Energy in the same way they
have in the past. For example, there will be no immediate changes
in customer service phone numbers, billing options or service
Internally, Duke Energy will be working to integrate
Piedmont's corporate functions –
such as accounting, human resources and information technology –
into Duke Energy's structure.
The North Carolina Utilities Commission last week approved the
acquisition – the final regulatory ruling needed to complete the
The Tennessee Regulatory Authority and Piedmont's shareholders previously approved
the transaction, and the United States Federal Trade Commission has
already granted early termination of the waiting period under the
federal Hart-Scott-Rodino Antitrust Improvements Act.
Click here for more information on the North Carolina Utilities
Commission's recent approval of Duke Energy's acquisition of
Piedmont Natural Gas and its customer benefits.
Click here for a fact sheet about Piedmont Natural Gas.
About Duke Energy
Duke Energy, one of the largest
electric power holding companies in the
United States, supplies and delivers electricity to
approximately 7.4 million customers in the Southeast and Midwest
representing a population of approximately 24 million people. The
company also distributes natural gas services to more than 1.5
million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international
businesses operate diverse power generation assets in North America and Latin America, including a growing renewable
energy portfolio. Headquartered in Charlotte, N.C., Duke Energy is an S&P 100
Stock Index company traded on the New York Stock Exchange under the
Headquartered in Charlotte,
N.C., Duke Energy is an S&P 100 Stock Index company
traded on the New York Stock Exchange under the symbol DUK. More
information about the company is available at
The Duke Energy News Center serves as a multimedia resource for
journalists and features news releases, helpful links, photos and
videos. Hosted by Duke Energy, illumination is an online
destination for stories about remarkable people, innovations, and
community and environmental topics. It also offers glimpses into
the past and insights into the future of energy.
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Media Contact: Tom Williams
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SOURCE Duke Energy