Duke Energy sells Piedmont Natural Gas Tennessee for $2.48 billion

Zoom in: Charlotte-based Duke Energy said in Tuesday's announcement the sale would help fund its $83 billion five-year capital plan.

Context: Piedmont's Tennessee business includes nearly 3,800 miles of pipeline and approximately 205,000 customers.

• The primary operations will remain in the Nashville area, and the current Duke Energy employees will transition over to Spire, the company announced.

What he's saying: "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," Duke Energy president and CEO Harry Sideris said in a press release.