Spire Inc., Alabama’s largest natural gas provider, is growing again. This time, with a major move into Tennessee.
The company announced Tuesday it will acquire the Tennessee operations of Piedmont Natural Gas from Duke Energy in a $2.48 billion deal.
Spire already serves more than 1.7 million homes and businesses across Alabama, Missouri and Mississippi. With the addition of Nashville, that number will rise to nearly 2 million customers, shoring up the company’s place as one of the largest publicly traded natural gas utilities in the country.
“This acquisition is a natural fit for Spire, allowing us to expand our core utility business and increase our utility customer base to nearly two million homes and businesses,” said Scott Doyle, president and chief executive officer of Spire. “We look forward to serving customers in the Nashville area and safely delivering the energy they need.”
Doyle said Duke Energy and Piedmont Natural Gas share Spire’s core value of safety and a commitment to serving and supporting the community.
“We’re eager to build on the foundation of exceptional customer service and community engagement that Piedmont Natural Gas customers in Tennessee have enjoyed for years,” said Doyle. “We look forward to welcoming their employees and customers, and becoming an active participant in the growing Nashville business community.”
It also marks a major expansion of its regulated utility footprint.
According to Spire, the new territory will operate under a new division called Spire Tennessee and will include nearly 3,800 miles of transmission and distribution pipelines. The deal is expected to close in early 2026, pending regulatory approvals from the Tennessee Public Utility Commission and federal antitrust regulators.
For Spire, which began as the Alabama Gas Corporation before rebranding in 2016, the acquisition reinforces its long-term strategy: grow responsibly, invest in infrastructure, and keep customers at the center.
Doyle said Duke Energy and Piedmont Natural Gas share those core values.
“We’re eager to build on the foundation of exceptional customer service and community engagement that Piedmont Natural Gas customers in Tennessee have enjoyed for years,” said Doyle. “We look forward to welcoming their employees and customers, and becoming an active participant in the growing Nashville business community.”
Duke Energy President and CEO Harry Sideris said the sale will allow his company to focus on future priorities, including electric grid upgrades and clean energy investments. He expressed confidence that Spire is the right company to lead in Tennessee going forward.
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“We’re confident Spire will support the continued growth and success of the Tennessee natural gas business and serve as an incredible operator for the benefit of employees, customers and communities,” Sideris said.
“I want to thank our customers and the Nashville community for allowing us to serve as their trusted energy partner, regional supporter and neighbor for more than 40 years. I also want to recognize the entire Piedmont Natural Gas team who support the Tennessee business for their unwavering commitment to our customers, operational excellence and industry-leading service. They have set the bar for what it means to be a best-in-class natural gas business and will continue to do so for many years to come,” Sideris added.
Grayson Everett is the editor and chief of Yellowhammer News. You can follow him on X @Grayson270.
