Duke Energy Grows
Duke Energy closed its acquisition of Piedmont Natural Gas, saying Piedmont will retain its name and operate as a business unit of Duke Energy. Both companies are headquartered in Charlotte.
The acquisition adds 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.
The North Carolina Utilities Commission last week approved the acquisition – the final regulatory ruling needed to complete the transaction. 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.
