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Duke Energy Acquisition Of Piedmont Natural Gas

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In 2016, Duke Energy acquired Piedmont Natural Gas, but it was setup to where it would operate as a business until of Dike Energy while still keeping its name. With this acquisition Piedmont's 1 million customers enabled Duke Energy's natural gas customer base to triple in size. Duke Energy purchased Piedmont Natural Gas for $4.9 billion, but also agreed to pay for $1.8 billion in debt making the total $6.7 billion for the purchase. Many felt this was too high due to it being in an industry that was still growing. The purpose to buying Piedmont Natural Gas was to create a platform for the growing natural gas industry (Poole, Duke Energy Pays). With the purchase, Duke Energy wanted customers to continue to do business in the same way they always
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