Biz

Duke Energy Buys Piedmont

COMPANIES UNITED IN PIPELINE PUSH … Duke Energy – the largest electric power provider in America – has reached a deal to purchase Piedmont Natural Gas for $4.9 billion.  The agreement – assuming it is approved by federal regulators and Piedmont shareholders – would give the Charlotte, N.C.-based company an additional…

COMPANIES UNITED IN PIPELINE PUSH …

Duke Energy – the largest electric power provider in America – has reached a deal to purchase Piedmont Natural Gas for $4.9 billion.  The agreement – assuming it is approved by federal regulators and Piedmont shareholders – would give the Charlotte, N.C.-based company an additional one million natural gas customers in North Carolina, South Carolina and Tennessee.

Duke and Piedmont are partners in the Atlantic Coast Pipeline, a $5 billion project which would bring natural gas obtained by hydraulic fracturing from the Marcellus Shale in West Virginia to North Carolina.  Duke desperately needs for the project to be approved in light of the ongoing federal crackdown on coal plants.

Here’s a look at the proposed route …

(Click to enlarge)

pipeline

The Atlantic Coast Pipeline project is supported by the governors of North Carolina, Virginia and West Virginia, but is running into stiff opposition from landowners along its proposed 554-mile route.

Dominion Resources – the company that’s developing the pipeline with Duke and Piedmont – has filed a flood of lawsuits against these property owners, citing a Virginia state statute that requires them to allow utility surveyors on their property.

Obviously laws on that vary from state-to-state …

The debate over eminent domain is also alive and well in South Carolina, the proposed terminus of a 360-mile gasoline and diesel fuel pipeline.

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14 comments

The Buzzman October 26, 2015 at 1:02 pm

Damn those pesky property owners, huh? Always making it tough for those conglomerated gubmint-connected corporations to steal their land and rape hell out of it. What’s the matter with those people? Don’t they believe in progress?

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The Colonel October 26, 2015 at 1:12 pm

Yeah, lets not have pipelines, power lines, water lines or sewer lines. We can live like we’re in Medieval Europe say 1,347 AD or so.

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stumpknocker October 26, 2015 at 1:13 pm

great idea, they can run the pipeline along their power lines

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The Colonel October 26, 2015 at 1:21 pm

If Duke had owned Piedmont all along they would have, that’s how most of them are done.

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sparklecity October 26, 2015 at 3:12 pm

Bought Piedmont Gas back in January 1990 at $13.50/share right now it’s $57….
It’s been a well run company and has been good to me.
Got Transco pipeline on the back of my property it don’t hurt a thing. They bush hog it every year and makes for a good deer stand at the edge of the tree line for a good kill zone.
From time to time you do hear the ‘dud-dud’-dud” of the compressors moving gas but since it’s about a mile from my house back in the woods it’s not a concern.
I’d rather have a natural gas pipeline running through my property instead of a big-assed power line any time

The Buzzman October 26, 2015 at 11:11 pm

Actually, had ’em on some property behind my house in NC and it caused no problems.

I was mainly just being provocative to start a conversation. I do that from time to time.

Tom October 26, 2015 at 5:10 pm

Isn’t that what you religious conservatives want?

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Bible Thumper October 26, 2015 at 1:27 pm

A bit of hyperbole, Buzz. They don’t won’t to rape the land. They would prefer consensual sex if possible or if needed legalized prostitution of the land. Libertarians ought to support that. Let’s face it. That land lost its virginity a long time ago.

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stumpknocker October 26, 2015 at 1:47 pm

well while we are the topic of sex, scana has raised our rates from $97 per 1000kwh to $146 per 1000kwh over the last 10 years, that is called getting fucked without even a kiss.

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Homo Sapien October 26, 2015 at 7:31 pm

Or at least a reach around!

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The Buzzman October 26, 2015 at 11:12 pm

Good one.

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Bible Thumper October 26, 2015 at 1:32 pm

Piedmont Natural Gas sure makes you think they are a small business with only a four county territory in SC. I didn’t realize they cover 2/3 of NC.

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shifty henry October 26, 2015 at 1:44 pm

That’s the purpose of the public relations technique
called ” F.E.A.R.” —- it means “False Evidence Appears Real”.

Reply
Manray9 October 26, 2015 at 5:51 pm

Piedmont customers — stand by for the rate increases!

Reply

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