Tom Skaines

Duke Energy
Duke Energy

Duke Energy has announced it will buy Piedmont Natural Gas for $4.9 billion dollars in cash.

Piedmont Natural Gas serves customers in almost every area of the state, outside the Triangle. Both companies are headquartered in Charlotte.

“This transaction consolidates our critical natural gas and power infrastructure into one company to greatly enhance customer service, safety, integrity, and reliability,” said Piedmont CEO Tom Skaines in a conference call.