Spire Expands Tennessee Footprint, Adds 200K Customers with $2.48B Acquisition
Spire has completed acquisition of the Tennessee Piedmont Natural Gas business from Duke Energy for $2.48B, adding 200K customers and 3,800 miles of pipelines. Spire Tennessee now accounts for roughly 20% of Spire’s five-year capital investment plan through 2030 and underpins its 5-7% long-term adjusted EPS growth target.
1. Acquisition Details
Spire completed its acquisition of the Tennessee Piedmont Natural Gas business from Duke Energy on March 31, 2026, in a $2.48 billion deal. The transaction adds nearly 3,800 miles of distribution and transmission pipelines and over 200,000 customers in the Nashville metro area and surrounding communities.
2. Strategic Growth Impact
Spire Tennessee will represent approximately 20% of Spire’s capital investment plan through the five-year period ending 2030, supporting robust growth driven by new customer additions and system integrity investments. The acquisition is a key driver in Spire’s target of 5-7% long-term adjusted earnings per share growth and leverages Tennessee’s constructive regulatory environment.
3. Integration and Leadership
More than 200 Piedmont Natural Gas employees have transitioned to Spire Tennessee to ensure service continuity, and Spire is recruiting additional roles to support operations. Joe Hampton has been appointed president of Spire Tennessee, and the company will extend its Spire Serves community program to the new service territory.