North Carolina OKs Duke Energy-Piedmont Natural Gas merger

duke energy elp 1

CHARLOTTE, N.C. (AP) — North Carolina regulators are allowing Duke Energy to expand from being the country's largest electricity company to selling natural gas.

Duke Energy Corp. said in a statement Thursday that the North Carolina Utilities Commission has allowed its acquisition of Piedmont Natural Gas Co. The regulatory approval is the last needed for the deal. The transaction is expected to close Monday.

Duke Energy is spending nearly $5 billion in cash for Piedmont to control natural gas costs for its own power plants. Duke Energy CEO Lynn Good has said the company also is positioning for a national expansion in future gas demand.

Both companies are based in Charlotte, North Carolina. They were already working together to build a 550-mile-long pipeline to deliver natural gas from West Virginia through Virginia and into North Carolina.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Latest Energy Jobs

View more Job Listings >>