Spire Inc. Expands into Tennessee with Major Acquisition

Spire Inc., the largest natural gas provider in Alabama, is making a significant move by expanding into Tennessee.

On Tuesday, the company announced that it would be acquiring the Tennessee operations of Piedmont Natural Gas from Duke Energy for $2.48 billion.

Spire currently serves around 1.7 million homes and businesses across Alabama, Missouri, and Mississippi. With the addition of Nashville, the customer base is expected to grow to nearly 2 million. This move solidifies Spire’s standing as one of the top utility companies in the nation.

“This acquisition aligns perfectly with Spire, allowing us to broaden our utility business and grow our customer base to nearly 2 million homes and businesses,” stated Scott Doyle, president and CEO of Spire. “We’re eager to provide safe energy to our customers in the Nashville area.”

Doyle emphasized that both Duke Energy and Piedmont Natural Gas share similar values regarding safety and community support.

“We aim to build on the strong foundation of customer service and community outreach that Piedmont Natural Gas customers in Tennessee have enjoyed for years,” he continued. “We’re excited to welcome both employees and customers and to engage with the budding Nashville business community.”

The acquisition marks a considerable expansion in Spire’s regulated utility operations.

As per Spire’s announcement, the area will be managed under a new division, Spire Tennessee, which will encompass around 3,800 miles of pipeline for transmission and distribution. The transaction is expected to finalize in early 2026, pending approval from the Tennessee Public Utilities Commission and federal antitrust regulatory bodies.

For Spire, which started as Alabama Gas Corporation in 2016 before rebranding, this merger is a strategic move. The company aims to grow responsibly, invest in infrastructure, and keep customer satisfaction at the forefront.

Doyle reiterated the shared values between Spire and its newly acquired entities.

Duke Energy’s president and CEO, Harry Sidelis, expressed that this sale would help his company focus on key priorities, such as upgrading electric grids and investing in sustainable energy initiatives. He voiced his confidence in Spire being the right entity to manage the Tennessee branch moving forward.

“We believe Spire will foster the continued growth and efficiency of the Tennessee Natural Gas business, positively impacting employees, customers, and the community,” Sidelis remarked.

Sidelis also took a moment to express gratitude to the Nashville community for their partnership over the past four decades and acknowledged the dedication of the Piedmont Natural Gas team in serving Tennessee’s businesses.