----

----

| [ X ] | QUARTERLY REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarter Ended June 30, 2009 |
|-------|------------------------------------------------------------------------------------------------------------------------------|

| [     ] | TRANSITION REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|-----------------------------|-------------------------------------------------------------------------------------------|

|   Commission File Number |   Registrant  |   State of Incorporation | I.R.S.Employer IdentificationNumber |
|------------------------------------|-------------------------|------------------------------------|-------------------------------------|
| 1-16681                            | The Laclede Group, Inc. | Missouri                           | 74-2976504                          |
| 1-1822                             | Laclede Gas Company     | Missouri                           | 43-0368139                          |

| The Laclede Group, Inc.: | Yes    | [ X ]  | No     | [     ] |
|--------------------------|--------|--------|--------|-----------------------------|
|                     |   |   |   |                        |
| Laclede Gas Company:     | Yes    | [ X ]  | No     | [     ] |

| The Laclede Group, Inc.: | Yes    | [     ] | No     | [     ] |
|--------------------------|--------|-----------------------------|--------|-----------------------------|
|                     |   |                        |   |                        |
| Laclede Gas Company:     | Yes    | [     ] | No     | [     ] |

| The Laclede Group, Inc.: |                    |                        |   |                      |
|--------------------------|-------------------------|-----------------------------|--------|---------------------------|
|                     |                    |                        |   |                      |   |
|                     | Large accelerated filer | [ X ]                       |   | Accelerated filer         | [     ] |
|                     | Non-accelerated filer   | [     ] |   | Smaller reporting company | [     ] |
|                     |                    |                        |   |                      |   |
| Laclede Gas Company:     |                    |                        |   |                      |
|                     |                    |                        |   |                      |   |
|                     | Large accelerated filer | [     ] |   | Accelerated filer         | [     ] |
|                     | Non-accelerated filer   | [ X ]                       |   | Smaller reporting company | [     ] |

Table of Contents

| The Laclede Group, Inc.: | Yes    | [     ] | No     | [ X ]  |
|--------------------------|--------|-----------------------------|--------|--------|
|                     |   |                        |   |   |
| Laclede Gas Company:     | Yes    | [     ] | No     | [ X ]  |

|                     |                           | Shares Outstanding At |
|--------------------------|--------------------------------|-----------------------|
| Registrant               | Description of Common Stock    | July 31, 2009         |
| The Laclede Group, Inc.: | Common Stock ($1.00 Par Value) | 22,167,303            |
| Laclede Gas Company:     | Common Stock ($1.00 Par Value) | 11,623  *   |

----

----

Table of Contents

| TABLE OF CONTENTS                              | Page No.                                                              |
|------------------------------------------------|-----------------------------------------------------------------------|
|                                           |                                                                  |   |   |
| PART I. FINANCIAL INFORMATION   |                                                                  |   |
|                                           |                                                                  |   |
| Item 1                                         | Financial Statements                                                  |   |
|                                           |                                                                  |   |   |
|                                           | The Laclede Group, Inc.:                                              |   |
|                                           |                                                                  | Statements of Consolidated Income | 5 |
|                                           |                                                                  | Statements of Consolidated Comprehensive Income | 6 |
|                                           |                                                                  | Consolidated Balance Sheets | 7-8 |
|                                           |                                                                  | Statements of Consolidated Cash Flows | 9 |
|                                           |                                                                  | Notes to Consolidated Financial Statements | 10-26 |
|                                           |                                                                  |   |   |
|                                           | Laclede Gas Company:                                                  |   |
|                                           |                                                                  | Statements of Income | Ex. 99.1, p. 1 |
|                                           |                                                                  | Statements of Comprehensive Income | Ex. 99.1, p. 2 |
|                                           |                                                                  | Balance Sheets | Ex. 99.1, p. 3-4 |
|                                           |                                                                  | Statements of Cash Flows | Ex. 99.1, p. 5 |
|                                           |                                                                  | Notes to Financial Statements | Ex. 99.1, p. 6-16 |
|                                           |                                                                  |   |   |
| Item 2                                         | Management’s Discussion and Analysis of Financial Condition and |   |
|                                           |                                                                  | Results of Operations (The Laclede Group, Inc.) | 27-40 |
|                                           | Management’s Discussion and Analysis of Financial Condition and |   |
|                                           |                                                                  | Results of Operations (Laclede Gas Company) | Ex. 99.1, p. 17-27 |
|                                           |                                                                  |   |   |
| Item 3                                         | Quantitative and Qualitative Disclosures About Market Risk            | 41 |
|                                           |                                                                  |   |   |
| Item 4                                         | Controls and Procedures                                               | 41 |
|                                           |                                                                  |   |   |
| PART II.  OTHER INFORMATION          |                                                                  |
|                                           |                                                                  |   |   |
| Item 1                                         | Legal Proceedings                                                     | 42 |
|                                           |                                                                  |   |   |
| Item 2                                         | Unregistered Sales of Equity Securities and Use of Proceeds           | 42 |
|                                           |                                                                  |   |   |
| Item 6                                         | Exhibits                                                              | 42 |
|                                           |                                                                  |   |   |
| SIGNATURES – The Laclede Group, Inc.     | 43                                                                    |
|                                           |                                                                  |   |   |
| SIGNATURES – Laclede Gas Company         | 44                                                                    |
|                                           |                                                                  |   |   |
| INDEX TO EXHIBITS                              | 45                                                                    |

|   |   |
|--------|--------|

Table of Contents

|   |   |
|--------|--------|

PART I. FINANCIAL INFORMATION

10-K

Table of Contents

Item 1. Financial Statements

STATEMENTS OF CONSOLIDATED INCOME

|                                                                                                            |   | Three Months Ended |    |   |   | Nine Months Ended |   |
|-----------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|--------|--------|-------------------|--------|
|                                                                                                            |   | June 30,           |    |   |   | June 30,          |   |
| (Thousands, Except Per Share Amounts)                                                                           |   |               | 2009    |   |   | 2008              |   |   |   |   | 2009 |   |   | 2008 |   |
|                                                                                                            |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
| Operating Revenues:                                                                                             |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|   Regulated Gas Distribution                                                                          |   | $                  | 160,332 |   | $      | 189,598           |   |   |   | $ | 958,901 |   | $ | 1,017,579 |   |
|   Non-Regulated Gas Marketing                                                                         |   |               | 148,442 |   |   | 314,646           |   |   |   |   | 681,071 |   |   | 735,831 |   |
|   Other                                                                                               |   |               | 1,170   |   |   | 1,244             |   |   |   |   | 3,296 |   |   | 3,774 |   |
|           Total Operating Revenues                            |   |               | 309,944 |   |   | 505,488           |   |   |   |   | 1,643,268 |   |   | 1,757,184 |   |
| Operating Expenses:                                                                                             |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|   Regulated Gas Distribution                                                                          |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|       Natural and propane gas                                                     |   |               | 87,841  |   |   | 112,896           |   |   |   |   | 656,244 |   |   | 713,263 |   |
|       Other operation expenses                                                    |   |               | 33,900  |   |   | 34,285            |   |   |   |   | 110,452 |   |   | 108,487 |   |
|       Maintenance                                                                 |   |               | 6,659   |   |   | 6,543             |   |   |   |   | 20,454 |   |   | 18,592 |   |
|       Depreciation and amortization                                               |   |               | 9,190   |   |   | 8,819             |   |   |   |   | 27,489 |   |   | 26,295 |   |
|       Taxes, other than income taxes                                              |   |               | 13,821  |   |   | 14,549            |   |   |   |   | 60,395 |   |   | 60,485 |   |
|           Total Regulated Gas Distribution Operating Expenses |   |               | 151,411 |   |   | 177,092           |   |   |   |   | 875,034 |   |   | 927,122 |   |
|   Non-Regulated Gas Marketing                                                                         |   |               | 141,512 |   |   | 308,035           |   |   |   |   | 637,600 |   |   | 714,928 |   |
|   Other                                                                                               |   |               | 818     |   |   | 1,102             |   |   |   |   | 2,503 |   |   | 3,815 |   |
|           Total Operating Expenses                            |   |               | 293,741 |   |   | 486,229           |   |   |   |   | 1,515,137 |   |   | 1,645,865 |   |
| Operating Income                                                                                                |   |               | 16,203  |   |   | 19,259            |   |   |   |   | 128,131 |   |   | 111,319 |   |
| Other Income and (Income Deductions) – Net                                                                |   |               | 1,331   |   |   | (836              | )      |   |   |   | 2,317 |   |   | 2,889 |   |
| Interest Charges:                                                                                               |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|   Interest on long-term debt                                                                          |   |               | 6,146   |   |   | 4,876             |   |   |   |   | 18,437 |   |   | 14,877 |   |
|   Interest on long-term debt to unconsolidated affiliate trust                                        |   |               | — |   |   | 347               |   |   |   |   | — |   |   | 486 |   |
|   Other interest charges                                                                              |   |               | 737     |   |   | 1,189             |   |   |   |   | 4,551 |   |   | 7,408 |   |
|           Total Interest Charges                              |   |               | 6,883   |   |   | 6,412             |   |   |   |   | 22,988 |   |   | 22,771 |   |
| Income from Continuing Operations Before Income Taxes                                                           |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|    and Dividends on Laclede Gas Redeemable Preferred Stock                                       |   |               | 10,651  |   |   | 12,011            |   |   |   |   | 107,460 |   |   | 91,437 |   |
| Income Tax Expense                                                                                              |   |               | 3,774   |   |   | 2,902             |   |   |   |   | 38,451 |   |   | 30,713 |   |
| Dividends on Laclede Gas Redeemable Preferred Stock                                                             |   |               | — |   |   | 8                 |   |   |   |   | 15 |   |   | 27 |   |
| Income from Continuing Operations                                                                               |   |               | 6,877   |   |   | 9,101             |   |   |   |   | 68,994 |   |   | 60,697 |   |
| Income from Discontinued Operations, Net                                                                        |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|     of Income Tax (Note 2)                                                                  |   |               | — |   |   | 158               |   |   |   |   | — |   |   | 20,819 |   |
| Net Income                                                                                                      |   | $                  | 6,877   |   | $      | 9,259             |   |   |   | $ | 68,994 |   | $ | 81,516 |   |
|                                                                                                            |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
| Average Number of Common Shares Outstanding:                                                                    |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|     Basic                                                                                   |   |               | 21,904  |   |   | 21,701            |   |   |   |   | 21,884 |   |   | 21,614 |   |
|     Diluted                                                                                 |   |               | 22,018  |   |   | 21,815            |   |   |   |   | 22,016 |   |   | 21,707 |   |
|                                                                                                            |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
| Basic Earnings Per Share of Common Stock:                                                                       |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|     Income from Continuing Operations                                                       |   | $                  | 0.31    |   | $      | 0.42              |   |   |   | $ | 3.15 |   | $ | 2.81 |   |
|     Income from Discontinued Operations                                                     |   |               | — |   |   | 0.01              |   |   |   |   | — |   |   | 0.96 |   |
|     Net Income                                                                              |   | $                  | 0.31    |   | $      | 0.43              |   |   |   | $ | 3.15 |   | $ | 3.77 |   |
|                                                                                                            |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
| Diluted Earnings Per Share of Common Stock:                                                                     |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
|     Income from Continuing Operations                                                       |   | $                  | 0.31    |   | $      | 0.41              |   |   |   | $ | 3.13 |   | $ | 2.80 |   |
|     Income from Discontinued Operations                                                     |   |               | — |   |   | 0.01              |   |   |   |   | — |   |   | 0.96 |   |
|     Net Income                                                                              |   | $                  | 0.31    |   | $      | 0.42              |   |   |   | $ | 3.13 |   | $ | 3.76 |   |
|                                                                                                            |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
| Dividends Declared Per Share of Common Stock                                                                    |   | $                  | 0.385   |   | $      | 0.375             |   |   |   | $ | 1.155 |   | $ | 1.125 |   |
|                                                                                                            |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |
| See Notes to Consolidated Financial Statements.                                                                 |   |               |    |   |   |              |   |   |   |   |   |   |   |   |   |

Table of Contents

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME

|                                                                                                |   | Three Months Ended |   |   |   | Nine Months Ended |   |
|-----------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|-------------------|--------|
|                                                                                                |   | June 30,           |   |   |   | June 30,          |   |
| (Thousands)                                                                                         |   |               | 2009   |   |   | 2008              |   |   |   |   | 2009 |   |   | 2008 |   |
|                                                                                                |   |               |   |   |   |              |   |   |   |   |   |   |   |   |   |
| Net Income                                                                                          |   | $                  | 6,877  |   | $      | 9,259             |   |   |   | $ | 68,994 |   | $ | 81,516 |   |
| Other Comprehensive Income (Loss), Before Tax:                                                      |   |               |   |   |   |              |   |   |   |   |   |   |   |   |   |
|   Net gains (losses) on cash flow hedging derivative instruments:                         |   |               |   |   |   |              |   |   |   |   |   |   |   |   |   |
|     Net hedging gain (loss) arising during period                               |   |               | (635   | )      |   | (10,388           | )      |   |   |   | 6,406 |   |   | (16,266 | ) |
|     Reclassification adjustment for (gains) losses included in net income       |   |               | (3,824 | )      |   | 3,256             |   |   |   |   | (14,391 | ) |   | (1,184 | ) |
|         Net unrealized losses on cash flow hedging          |   |               |   |   |   |              |   |   |   |   |   |   |   |   |   |
|           derivative instruments                  |   |               | (4,459 | )      |   | (7,132            | )      |   |   |   | (7,985 | ) |   | (17,450 | ) |
|   Amortization of actuarial loss included in net periodic                                 |   |               |   |   |   |              |   |   |   |   |   |   |   |   |   |
|           pension and postretirement benefit cost |   |               | 49     |   |   | 43                |   |   |   |   | 149 |   |   | 129 |   |
| Other Comprehensive Loss, Before Tax                                                                |   |               | (4,410 | )      |   | (7,089            | )      |   |   |   | (7,836 | ) |   | (17,321 | ) |
| Income Tax Benefit Related to Items of Other                                                        |   |               |   |   |   |              |   |   |   |   |   |   |   |   |   |
|     Comprehensive Loss                                                          |   |               | (1,695 | )      |   | (2,739            | )      |   |   |   | (3,012 | ) |   | (6,692 | ) |
| Other Comprehensive Loss, Net of Tax                                                                |   |               | (2,715 | )      |   | (4,350            | )      |   |   |   | (4,824 | ) |   | (10,629 | ) |
| Comprehensive Income                                                                                |   | $                  | 4,162  |   | $      | 4,909             |   |   |   | $ | 64,170 |   | $ | 70,887 |   |
|                                                                                                |   |               |   |   |   |              |   |   |   |   |   |   |   |   |   |
| See Notes to Consolidated Financial Statements.                                                     |   |               |   |   |   |              |   |   |   |   |   |   |   |   |   |

Table of Contents

CONSOLIDATED BALANCE SHEETS

|                                                                                     |   | June 30, |      |   |   | Sept. 30, |   |      |   | June 30, |   |
|------------------------------------------------------------------------------------------|--------|----------|-----------|--------|--------|-----------|--------|-----------|--------|----------|--------|
| (Thousands)                                                                              |   | 2009     |      |   |   | 2008      |   |      |   | 2008     |   |
|                                                                                     |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| ASSETS                                                                                   |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| Utility Plant                                                                            |   | $        | 1,268,173 |   |   |      | $      | 1,229,174 |   |     |   | $ | 1,215,336 |   |
| Less:  Accumulated depreciation and amortization                               |   |     | 419,165   |   |   |      |   | 405,977   |   |     |   |   | 402,229 |   |
|       Net Utility Plant                                    |   |     | 849,008   |   |   |      |   | 823,197   |   |     |   |   | 813,107 |   |
|                                                                                     |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| Non-utility property                                                                     |   |     | 4,554     |   |   |      |   | 3,793     |   |     |   |   | 3,952 |   |
| Other investments                                                                        |   |     | 45,090    |   |   |      |   | 43,314    |   |     |   |   | 43,226 |   |
|       Other Property and Investments                       |   |     | 49,644    |   |   |      |   | 47,107    |   |     |   |   | 47,178 |   |
|                                                                                     |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| Current Assets:                                                                          |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|   Cash and cash equivalents                                                    |   |     | 89,075    |   |   |      |   | 14,899    |   |     |   |   | 32,971 |   |
|   Accounts receivable:                                                         |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|       Utility                                              |   |     | 95,691    |   |   |      |   | 98,708    |   |     |   |   | 106,566 |   |
|       Non-utility                                          |   |     | 47,437    |   |   |      |   | 102,389   |   |     |   |   | 119,017 |   |
|       Other                                                |   |     | 11,345    |   |   |      |   | 10,486    |   |     |   |   | 4,890 |   |
|       Allowances for doubtful accounts                     |   |     | (13,409   | )      |   |      |   | (12,624   | )      |     |   |   | (14,107 | ) |
|   Delayed customer billings                                                    |   |     | 10,530    |   |   |      |   | —   |   |     |   |   | 18,389 |   |
|   Inventories:                                                                 |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|       Natural gas stored underground at LIFO cost          |   |     | 53,202    |   |   |      |   | 206,267   |   |     |   |   | 84,205 |   |
|       Propane gas at FIFO cost                             |   |     | 19,846    |   |   |      |   | 19,911    |   |     |   |   | 19,907 |   |
|       Materials, supplies, and merchandise at average cost |   |     | 5,055     |   |   |      |   | 5,301     |   |     |   |   | 5,699 |   |
|   Derivative instrument assets                                                 |   |     | 17,429    |   |   |      |   | 57,210    |   |     |   |   | 18,948 |   |
|   Unamortized purchased gas adjustments                                        |   |     | 4,769     |   |   |      |   | 33,411    |   |     |   |   | 3,341 |   |
|   Deferred income taxes                                                        |   |     | —   |   |   |      |   | —   |   |     |   |   | 9,245 |   |
|   Prepayments and other                                                        |   |     | 31,732    |   |   |      |   | 25,950    |   |     |   |   | 19,847 |   |
|           Total Current Assets         |   |     | 372,702   |   |   |      |   | 561,908   |   |     |   |   | 428,918 |   |
|                                                                                     |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| Deferred Charges:                                                                        |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|   Regulatory assets                                                            |   |     | 388,869   |   |   |      |   | 334,755   |   |     |   |   | 267,574 |   |
|   Other                                                                        |   |     | 5,781     |   |   |      |   | 5,688     |   |     |   |   | 4,409 |   |
|           Total Deferred Charges       |   |     | 394,650   |   |   |      |   | 340,443   |   |     |   |   | 271,983 |   |
| Total Assets                                                                             |   | $        | 1,666,004 |   |   |      | $      | 1,772,655 |   |     |   | $ | 1,561,186 |   |
|                                                                                     |   |     |      |   |   |      |   |      |   |     |   |   |   |   |

Table of Contents

|                                                                                                                                              |   | June 30, |      |   |   | Sept. 30, |   |      |   | June 30, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|-----------|--------|--------|-----------|--------|-----------|--------|----------|--------|
| (Thousands, except share amounts)                                                                                                                 |   | 2009     |      |   |   | 2008      |   |      |   | 2008     |   |
|                                                                                                                                              |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| CAPITALIZATION AND LIABILITIES                                                                                                                    |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| Capitalization:                                                                                                                                   |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|   Common stock (70,000,000 shares authorized, 22,157,980    21,993,473, and 21,961,795 shares issued, respectively) |   | $        | 22,158    |   |   |      | $      | 21,993    |   |     |   | $ | 21,962 |   |
|   Paid-in capital                                                                                                                       |   |     | 152,904   |   |   |      |   | 147,241   |   |     |   |   | 144,955 |   |
|   Retained earnings                                                                                                                     |   |     | 356,239   |   |   |      |   | 312,808   |   |     |   |   | 324,694 |   |
|   Accumulated other comprehensive income (loss)                                                                                         |   |     | (387      | )      |   |      |   | 4,437     |   |     |   |   | (8,772 | ) |
|       Total Common Stock Equity                                                                                     |   |     | 530,914   |   |   |      |   | 486,479   |   |     |   |   | 482,839 |   |
|   Laclede Gas redeemable preferred stock    (less current sinking fund requirements)                                |   |     | —   |   |   |      |   | 467       |   |     |   |   | 467 |   |
|   Long-term debt – Laclede Gas                                                                                                    |   |     | 389,225   |   |   |      |   | 389,181   |   |     |   |   | 309,167 |   |
|       Total Capitalization                                                                                          |   |     | 920,139   |   |   |      |   | 876,127   |   |     |   |   | 792,473 |   |
|                                                                                                                                              |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| Current Liabilities:                                                                                                                              |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|   Notes payable                                                                                                                         |   |     | 133,000   |   |   |      |   | 215,900   |   |     |   |   | 58,600 |   |
|   Accounts payable                                                                                                                      |   |     | 79,303    |   |   |      |   | 159,580   |   |     |   |   | 191,402 |   |
|   Advance customer billings                                                                                                             |   |     | —   |   |   |      |   | 25,548    |   |     |   |   | — |   |
|   Current portion of preferred stock                                                                                                    |   |     | —   |   |   |      |   | 160       |   |     |   |   | 160 |   |
|   Wages and compensation accrued                                                                                                        |   |     | 13,736    |   |   |      |   | 12,197    |   |     |   |   | 13,267 |   |
|   Dividends payable                                                                                                                     |   |     | 8,688     |   |   |      |   | 8,400     |   |     |   |   | 8,326 |   |
|   Customer deposits                                                                                                                     |   |     | 13,839    |   |   |      |   | 14,020    |   |     |   |   | 14,923 |   |
|   Interest accrued                                                                                                                      |   |     | 6,367     |   |   |      |   | 10,094    |   |     |   |   | 6,204 |   |
|   Taxes accrued                                                                                                                         |   |     | 24,712    |   |   |      |   | 11,387    |   |     |   |   | 26,313 |   |
|   Deferred income taxes current                                                                                                         |   |     | 9,717     |   |   |      |   | 11,669    |   |     |   |   | — |   |
|   Other                                                                                                                                 |   |     | 10,752    |   |   |      |   | 10,249    |   |     |   |   | 6,257 |   |
|       Total Current Liabilities                                                                                     |   |     | 300,114   |   |   |      |   | 479,204   |   |     |   |   | 325,452 |   |
|                                                                                                                                              |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| Deferred Credits and Other Liabilities:                                                                                                           |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|   Deferred income taxes                                                                                                                 |   |     | 244,971   |   |   |      |   | 222,761   |   |     |   |   | 233,368 |   |
|   Unamortized investment tax credits                                                                                                    |   |     | 3,809     |   |   |      |   | 3,973     |   |     |   |   | 4,030 |   |
|   Pension and postretirement benefit costs                                                                                              |   |     | 101,991   |   |   |      |   | 98,513    |   |     |   |   | 71,164 |   |
|   Asset retirement obligations                                                                                                          |   |     | 26,238    |   |   |      |   | 26,833    |   |     |   |   | 27,300 |   |
|   Regulatory liabilities                                                                                                                |   |     | 45,231    |   |   |      |   | 42,191    |   |     |   |   | 84,436 |   |
|   Other                                                                                                                                 |   |     | 23,511    |   |   |      |   | 23,053    |   |     |   |   | 22,963 |   |
|       Total Deferred Credits and Other Liabilities                                                                  |   |     | 445,751   |   |   |      |   | 417,324   |   |     |   |   | 443,261 |   |
| Total Capitalization and Liabilities                                                                                                              |   | $        | 1,666,004 |   |   |      | $      | 1,772,655 |   |     |   | $ | 1,561,186 |   |
|                                                                                                                                              |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
| See Notes to Consolidated Financial Statements.                                                                                                   |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|                                                                                                                                              |   |     |      |   |   |      |   |      |   |     |   |   |   |   |
|                                                                                                                                              |   |     |      |   |   |      |   |      |   |     |   |   |   |   |

Table of Contents

STATEMENTS OF CONSOLIDATED CASH FLOWS

|                                                                                                                                       |   | Nine Months Ended |     |
|--------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|----------|
|                                                                                                                                       |   | June 30,          |     |
| (Thousands)                                                                                                                                |   | 2009              |     |   |   | 2008 |   |
|                                                                                                                                       |   |              |     |   |   |   |   |   |   |
| Operating Activities:                                                                                                                      |   |              |     |   |   |   |   |   |   |
|   Net Income                                                                                                                     |   | $                 | 68,994   |   |   |   | $ | 81,516 |   |
|   Adjustments to reconcile net income to net cash provided by (used in)      operating activities: |   |              |     |   |   |   |   |   |   |
|     Gain on sale of discontinued operations                                                                            |   |              | —  |   |   |   |   | (44,491 | ) |
|     Depreciation, amortization, and accretion                                                                          |   |              | 27,709   |   |   |   |   | 27,828 |   |
|     Deferred income taxes and investment tax credits                                                                   |   |              | 13,771   |   |   |   |   | (6,247 | ) |
|     Other – net                                                                                                  |   |              | 2,451    |   |   |   |   | 3,225 |   |
|     Changes in assets and liabilities:                                                                                 |   |              |     |   |   |   |   |   |   |
|       Accounts receivable – net                                                                        |   |              | 57,895   |   |   |   |   | (67,513 | ) |
|       Unamortized purchased gas adjustments                                                                  |   |              | 28,642   |   |   |   |   | 9,472 |   |
|       Deferred purchased gas costs                                                                           |   |              | (43,926  | ) |   |   |   | 72,856 |   |
|       Accounts payable                                                                                       |   |              | (78,306  | ) |   |   |   | 92,780 |   |
|       Delayed customer billings - net                                                                        |   |              | (36,078  | ) |   |   |   | (43,829 | ) |
|       Taxes accrued                                                                                          |   |              | 13,307   |   |   |   |   | 5,391 |   |
|       Natural gas stored underground                                                                         |   |              | 142,979  |   |   |   |   | 54,051 |   |
|       Other assets and liabilities                                                                           |   |              | 22,319   |   |   |   |   | 8,215 |   |
|           Net cash provided by operating activities                                      |   |              | 219,757  |   |   |   |   | 193,254 |   |
|                                                                                                                                       |   |              |     |   |   |   |   |   |   |
| Investing Activities:                                                                                                                      |   |              |     |   |   |   |   |   |   |
|   Proceeds from sale of discontinued operations                                                                                  |   |              | —  |   |   |   |   | 83,554 |   |
|   Capital expenditures                                                                                                           |   |              | (39,535  | ) |   |   |   | (41,503 | ) |
|   Other investments                                                                                                              |   |              | (460     | ) |   |   |   | (76 | ) |
|   Proceeds from unconsolidated affiliate trust’s redemption of its common securities                                       |   |              | —  |   |   |   |   | 1,400 |   |
|           Net cash (used in) provided by investing activities                            |   |              | (39,995  | ) |   |   |   | 43,375 |   |
|                                                                                                                                       |   |              |     |   |   |   |   |   |   |
| Financing Activities:                                                                                                                      |   |              |     |   |   |   |   |   |   |
|   Maturity of First Mortgage Bonds                                                                                               |   |              | —  |   |   |   |   | (40,000 | ) |
|   Redemption of long-term debt to unconsolidated affiliate trust                                                                 |   |              | —  |   |   |   |   | (46,400 | ) |
|   Issuance (repayment) of short-term debt – net                                                                            |   |              | (82,900  | ) |   |   |   | (152,800 | ) |
|   Changes in book overdrafts                                                                                                     |   |              | 552      |   |   |   |   | — |   |
|   Issuance of common stock                                                                                                       |   |              | 3,304    |   |   |   |   | 7,284 |   |
|   Non-employee directors’ restricted stock awards                                                                          |   |              | (570     | ) |   |   |   | (421 | ) |
|   Dividends paid                                                                                                                 |   |              | (25,278  | ) |   |   |   | (24,197 | ) |
|   Preferred stock reacquired                                                                                                     |   |              | (627     | ) |   |   |   | (160 | ) |
|   Employees’ taxes paid associated with restricted shares withheld upon vesting                                            |   |              | (675     | ) |   |   |   | — |   |
|   Excess tax benefits from stock-based compensation                                                                              |   |              | 724      |   |   |   |   | 293 |   |
|   Other                                                                                                                          |   |              | (116     | ) |   |   |   | (3 | ) |
|           Net cash used in financing activities                                          |   |              | (105,586 | ) |   |   |   | (256,404 | ) |
|                                                                                                                                       |   |              |     |   |   |   |   |   |   |
| Net Increase (Decrease) in Cash and Cash Equivalents                                                                                       |   |              | 74,176   |   |   |   |   | (19,775 | ) |
| Cash and Cash Equivalents at Beginning of Period                                                                                           |   |              | 14,899   |   |   |   |   | 52,746 |   |
| Cash and Cash Equivalents at End of Period                                                                                                 |   | $                 | 89,075   |   |   |   | $ | 32,971 |   |
|                                                                                                                                       |   |              |     |   |   |   |   |   |   |
|                                                                                                                                       |   |              |     |   |   |   |   |   |   |
| Supplemental Disclosure of Cash Paid During the Period for:                                                                                |   |              |     |   |   |   |   |   |   |
|     Interest                                                                                                           |   | $                 | 26,355   |   |   |   | $ | 30,109 |   |
|     Income taxes                                                                                                       |   |              | 9,738    |   |   |   |   | 40,924 |   |
|                                                                                                                                       |   |              |     |   |   |   |   |   |   |
| See Notes to Consolidated Financial Statements.                                                                                            |   |              |     |   |   |   |   |   |   |

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 1. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
|----|--------------------------------------------|

10-K

SUBSEQUENT EVENTS 

10-K

Table of Contents

|   |                                 |   |    |   |   | Weighted   |
|--------|--------------------------------------|--------|---------|--------|--------|------------|
|   |                                 |   |    |   |   | Average    |
|   |                                 |   | Shares/ |   |   | Grant Date |
|   |                                 |   | Units   |   |   | Fair Value |
|   |                                 |   |    |   |   |       |   |   |   |
|   | Nonvested at September 30, 2008 |   | 179,100 |   |   |       | $ | 31.40 |   |
|   |                                 |   |    |   |   |       |   |   |   |
|   | Granted                              |   | 89,850  |   |   |       | $ | 47.17 |   |
|   | Vested                               |   | (43,000 | )      |   |       | $ | 30.46 |   |
|   | Forfeited                            |   | — |   |   |       | $ | — |   |
|   |                                 |   |    |   |   |       |   |   |   |
|   | Nonvested at June 30, 2009           |   | 225,950 |   |   |       | $ | 37.85 |   |

|   |                                 |   |    |   |   | Weighted   |
|--------|--------------------------------------|--------|---------|--------|--------|------------|
|   |                                 |   |    |   |   | Average    |
|   |                                 |   | Shares/ |   |   | Grant Date |
|   |                                 |   | Units   |   |   | Fair Value |
|   |                                 |   |    |   |   |       |   |   |   |
|   | Nonvested at September 30, 2008 |   | 56,850  |   |   |       | $ | 32.36 |   |
|   |                                 |   |    |   |   |       |   |   |   |
|   | Granted                              |   | 40,400  |   |   |       | $ | 49.30 |   |
|   | Vested                               |   | (5,400  | )      |   |       | $ | 42.36 |   |
|   | Forfeited                            |   | (800    | )      |   |       | $ | 42.57 |   |
|   |                                 |   |    |   |   |       |   |   |   |
|   | Nonvested at June 30, 2009           |   | 91,050  |   |   |       | $ | 39.20 |   |

Table of Contents

|   |                                                          |   |    |   |   |     |    |   | Weighted    |   |   |      |   |
|--------|---------------------------------------------------------------|--------|---------|--------|--------|----------|---------|--------|-------------|--------|--------|-----------|--------|
|   |                                                          |   |    |   |   |     |    |   | Average     |   |   |      |   |
|   |                                                          |   |    |   |   | Weighted |    |   | Remaining   |   |   | Aggregate |   |
|   |                                                          |   |    |   |   | Average  |    |   | Contractual |   |   | Intrinsic |   |
|   |                                                          |   | Stock   |   |   | Exercise |    |   | Term        |   |   | Value     |   |
|   |                                                          |   | Options |   |   | Price    |    |   | (Years)     |   |   | ($000)    |   |
|   |                                                          |   |    |   |   |     |    |   |        |   |   |      |   |   |   |
|   | Outstanding at September 30, 2008                             |   | 415,850 |   |   | $        | 30.84   |   |        |   |   |      |   |   |   |
|   |                                                          |   |    |   |   |     |    |   |        |   |   |      |   |   |   |
|   | Granted                                                       |   | — |   |   | $        | — |   |        |   |   |      |   |   |   |
|   | Exercised                                                     |   | (54,125 | )      |   | $        | 30.63   |   |        |   |   |      |   |   |   |
|   | Forfeited                                                     |   | (3,000  | )      |   | $        | 33.45   |   |        |   |   |      |   |   |   |
|   | Expired                                                       |   | (2,500  | )      |   | $        | 32.26   |   |        |   |   |      |   |   |   |
|   |                                                          |   |    |   |   |     |    |   |        |   |   |      |   |   |   |
|   | Outstanding at June 30, 2009                                  |   | 356,225 |   |   | $        | 30.84   |   |        | 5.6    |   |      | $      | 965 |   |
|   |                                                          |   |    |   |   |     |    |   |        |   |   |      |   |   |   |
|   | Fully Vested and Expected to Vest  at June 30, 2009 |   | 351,158 |   |   | $        | 30.80   |   |        | 5.6    |   |      | $      | 961 |   |
|   |                                                          |   |    |   |   |     |    |   |        |   |   |      |   |   |   |
|   | Exercisable at June 30, 2009                                  |   | 283,850 |   |   | $        | 30.14   |   |        | 5.3    |   |      | $      | 907 |   |

|   |                                        |   | Three Months Ended |   | Nine Months Ended |   |
|--------|---------------------------------------------|--------|--------------------|--------|-------------------|--------|
|   |                                        |   | June 30,           |   | June 30,          |   |
|   | (Thousands)                                 |   | 2009               |   | 2008              |   | 2009 |   | 2008 |   |
|   |                                        |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Total compensation cost                     |   | $                  | 970    |              | $      | 508 |   | $ | 3,069 |   | $ | 1,930 |   |
|   | Compensation cost capitalized               |   |               | (198   | )                 |   | (112 | ) |   | (631 | ) |   | (410 | ) |
|   | Compensation cost recognized in net income  |   |               | 772    |              |   | 396 |   |   | 2,438 |   |   | 1,520 |   |
|   | Income tax benefit recognized in net income |   |               | (298   | )                 |   | (153 | ) |   | (940 | ) |   | (587 | ) |
|   | Compensation cost recognized in net income, |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   |   net of income tax               |   | $                  | 474    |              | $      | 243 |   | $ | 1,498 |   | $ | 933 |   |

Table of Contents

NEW ACCOUNTING STANDARDS

Note 6

Note 7

Table of Contents

Note 5

Subsequent Events

Table of Contents

| 2. | DISCONTINUED OPERATIONS |
|----|-------------------------|

exhibit
Note 11

|   |                                |   | Three Months Ended |    | Nine Months Ended |   |
|--------|-------------------------------------|--------|--------------------|---------|-------------------|--------|
|   |                                |   | June 30,           |    | June 30,          |   |
|   | (Thousands)                         |   | 2009               |    | 2008              |   | 2009 |   | 2008 |   |
|   |                                |   |               |    |              |   |   |   |   |   |   |   |   |   |
|   | Operating revenues                  |   | $                  | — |              | $      | — |   | $ | — |   | $ | 65,423 |   |
|   |                                |   |               |    |              |   |   |   |   |   |   |   |   |   |
|   | Loss from operations                |   |               | — |              |   | — |   |   | — |   |   | (9,387 | ) |
|   | Gain on disposal                    |   |               | — |              |   | — |   |   | — |   |   | 44,491 |   |
|   | Pre-tax income                      |   |               | — |              |   | — |   |   | — |   |   | 35,104 |   |
|   | Income tax expense (benefit)        |   |               | — |              |   | (158 | ) |   | — |   |   | 14,285 |   |
|   | Income From Discontinued Operations |   | $                  | — |              | $      | 158 |   | $ | — |   | $ | 20,819 |   |

Table of Contents

| 3. | EARNINGS PER SHARE |
|----|--------------------|

|   |                                                                             |   | Three Months Ended |   | Nine Months Ended |   |
|--------|----------------------------------------------------------------------------------|--------|--------------------|--------|-------------------|--------|
|   |                                                                             |   | June 30,           |   | June 30,          |   |
|   | (Thousands, Except Per Share Amounts)                                            |   |               | 2009   |              |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|   |                                                                             |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Basic EPS:                                                                       |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Income from Continuing Operations                                                |   | $                  | 6,877  |              | $      | 9,101 |   | $ | 68,994 |   | $ | 60,697 |   |
|   |                                                                             |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Weighted Average Shares Outstanding                                              |   |               | 21,904 |              |   | 21,701 |   |   | 21,884 |   |   | 21,614 |   |
|   | Earnings Per Share of Common Stock from                                          |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   |     Continuing Operations                                    |   | $                  | 0.31   |              | $      | 0.42 |   | $ | 3.15 |   | $ | 2.81 |   |
|   |                                                                             |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Diluted EPS:                                                                     |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Income from Continuing Operations                                                |   | $                  | 6,877  |              | $      | 9,101 |   | $ | 68,994 |   | $ | 60,697 |   |
|   |                                                                             |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Weighted Average Shares Outstanding                                              |   |               | 21,904 |              |   | 21,701 |   |   | 21,884 |   |   | 21,614 |   |
|   | Dilutive Effect of Stock Options                                                 |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   |     and Restricted Stock                                     |   |               | 114    |              |   | 114 |   |   | 132 |   |   | 93 |   |
|   | Weighted Average Diluted Shares                                                  |   |               | 22,018 |              |   | 21,815 |   |   | 22,016 |   |   | 21,707 |   |
|   |                                                                             |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Earnings Per Share of Common Stock from                                          |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   |     Continuing Operations                                    |   | $                  | 0.31   |              | $      | 0.41 |   | $ | 3.13 |   | $ | 2.80 |   |
|   |                                                                             |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Outstanding Shares Excluded from the Calculation of Diluted EPS Attributable to: |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Antidilutive stock options                                                       |   |               | 83     |              |   | — |   |   | — |   |   | — |   |
|   | Antidilutive time-vested restricted stock                                        |   |               | 36     |              |   | — |   |   | 10 |   |   | — |   |
|   | Performance-contingent restricted stock                                          |   |               | 163    |              |   | 149 |   |   | 163 |   |   | 149 |   |
|   | Total                                                                            |   |               | 282    |              |   | 149 |   |   | 173 |   |   | 149 |   |

Table of Contents

| 4. | PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS |
|----|-------------------------------------------------|

|   |                                 |   | Three Months Ended |   | Nine Months Ended |   |
|--------|--------------------------------------|--------|--------------------|--------|-------------------|--------|
|   |                                 |   | June 30,           |   | June 30,          |   |
|   | (Thousands)                          |   | 2009               |   | 2008              |   | 2009 |   | 2008 |   |
|   |                                 |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Service cost – benefits earned |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | during the period                    |   | $                  | 1,817  |              | $      | 3,243 |   | $ | 7,119 |   | $ | 9,728 |   |
|   | Interest cost on projected           |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | benefit obligation                   |   |               | 5,230  |              |   | 4,670 |   |   | 15,727 |   |   | 14,010 |   |
|   | Expected return on plan assets       |   |               | (5,234 | )                 |   | (5,162 | ) |   | (15,703 | ) |   | (15,487 | ) |
|   | Amortization of prior service cost   |   |               | 258    |              |   | 272 |   |   | 776 |   |   | 816 |   |
|   | Amortization of actuarial loss       |   |               | 774    |              |   | 791 |   |   | 2,322 |   |   | 2,373 |   |
|   | Sub-total                            |   |               | 2,845  |              |   | 3,814 |   |   | 10,241 |   |   | 11,440 |   |
|   | Regulatory adjustment                |   |               | (1,296 | )                 |   | (2,280 | ) |   | (5,594 | ) |   | (6,840 | ) |
|   | Net pension cost                     |   | $                  | 1,549  |              | $      | 1,534 |   | $ | 4,647 |   | $ | 4,600 |   |

Table of Contents

|   |                                  |   | Three Months Ended |   | Nine Months Ended |   |
|--------|---------------------------------------|--------|--------------------|--------|-------------------|--------|
|   |                                  |   | June 30,           |   | June 30,          |   |
|   | (Thousands)                           |   | 2009               |   | 2008              |   | 2009 |   | 2008 |   |
|   |                                  |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Service cost – benefits earned  |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | during the period                     |   | $                  | 1,283  |              | $      | 1,140 |   | $ | 3,849 |   | $ | 3,420 |   |
|   | Interest cost on accumulated          |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | postretirement benefit obligation     |   |               | 1,169  |              |   | 977 |   |   | 3,509 |   |   | 2,931 |   |
|   | Expected return on plan assets        |   |               | (594   | )                 |   | (509 | ) |   | (1,782 | ) |   | (1,528 | ) |
|   | Amortization of transition obligation |   |               | 34     |              |   | 34 |   |   | 102 |   |   | 102 |   |
|   | Amortization of prior service cost    |   |               | (582   | )                 |   | (582 | ) |   | (1,746 | ) |   | (1,746 | ) |
|   | Amortization of actuarial loss        |   |               | 878    |              |   | 746 |   |   | 2,632 |   |   | 2,238 |   |
|   | Sub-total                             |   |               | 2,188  |              |   | 1,806 |   |   | 6,564 |   |   | 5,417 |   |
|   | Regulatory adjustment                 |   |               | (278   | )                 |   | 104 |   |   | (833 | ) |   | 314 |   |
|   | Net postretirement benefit cost       |   | $                  | 1,910  |              | $      | 1,910 |   | $ | 5,731 |   | $ | 5,731 |   |

| 5. | FAIR VALUE OF FINANCIAL INSTRUMENTS |
|----|-------------------------------------|

|   | (Thousands)                  |   | CarryingAmount |    | FairValue |   |
|--------|------------------------------|--------|----------------|---------|-----------|--------|
|   |                         |   |           |    |      |   |   |   |
|   | Cash and cash equivalents    |   | $              | 89,075  |      | $      | 89,075 |   |
|   | Marketable securities        |   |           | 9,506   |      |   | 9,506 |   |
|   | Derivative instrument assets |   |           | 17,429  |      |   | 17,429 |   |
|   | Short-term debt              |   |           | 133,000 |      |   | 133,000 |   |
|   | Long-term debt               |   |           | 389,225 |      |   | 387,996 |   |

Note6

Table of Contents

| 6. | FAIR VALUE MEASUREMENTS |
|----|-------------------------|

New Accounting Standards 

|   | As of June 30, 2009                                   |   |
|--------|-------------------------------------------------------|--------|
|   | (Thousands)                                           |   |   | QuotedPrices inActiveMarkets(Level 1) |   |   | SignificantObservableInputs(Level 2) |   |   | SignificantUnobservableInputs(Level 3) |   |   | Effects of Netting and Cash Margin Receivables/Payables |   |   | Total |   |
|   | Assets                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   Marketable securities                     |   | $ | 9,506 |   | $ | — |   | $ | — |   | $ | — |   | $ | 9,506 |   |
|   |   Derivative instruments                    |   |   | 10,779 |   |   | 400 |   |   | — |   |   | 6,250 |   |   | 17,429 |   |
|   |         Total |   | $ | 20,285 |   | $ | 400 |   | $ | — |   | $ | 6,250 |   | $ | 26,935 |   |
|   |                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Liabilities                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   Derivative instruments                    |   | $ | 88,188 |   | $ | — |   | $ | — |   | $ | (88,188 | ) | $ | — |   |

| 7. | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES |
|----|-----------------------------------------------|

Table of Contents

|   |                                |   | Laclede Gas Company |   | Laclede EnergyResources, Inc. |    |
|--------|-------------------------------------|--------|---------------------|--------|-------------------------------|---------|
|   |                                |   | MMBtu(millions)     |   | Avg. PricePerMMBtu            |    | MMBtu(millions) |   | Avg. PricePerMMBtu |   |
|   | Open short futures positions        |   |                |   |                          |    |   |   |   |   |   |   |
|   |     Fiscal 2009 |   | —             |   | $                             | — |   | 0.60 |   | $ | 5.97 |   |
|   |     Fiscal 2010 |   | —             |   |                          | — |   | 6.72 |   |   | 5.77 |   |
|   |                                |   |                |   |                          |    |   |   |   |   |   |   |
|   | Open long futures positions         |   |                |   |                          |    |   |   |   |   |   |   |
|   |     Fiscal 2009 |   | 3.82                |   | $                             | 8.68    |   | — |   | $ | — |   |
|   |     Fiscal 2010 |   | 14.55               |   |                          | 8.78    |   | 0.72 |   |   | 4.77 |   |
|   |     Fiscal 2011 |   | 6.58                |   |                          | 8.55    |   | — |   |   | — |   |
|   |     Fiscal 2012 |   | 0.60                |   |                          | 8.31    |   | 0.75 |   |   | 7.71 |   |

Table of Contents

| The Effect of Derivative Instruments on the Statements of Consolidated Income and Statements of Consolidated Comprehensive Income |
|-----------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                              |   |   |
|                                                                                                                              |   | Location of Gain (Loss)Recorded in Income |   | Three Months EndedJune 30, 2009 |   | Six MonthsEndedJune 30, 2009 (a) |   |
| (Thousands)                                                                                                                       |   |   |   |
|                                                                                                                              |   |   |
| Derivatives in SFAS No. 133 Cash Flow Hedging Relationships                                                                       |   |   |
|                                                                                                                              |   |   |
|                                                                                                                              | Effective portion of gain (loss) recognized in OCI  on derivative: |   |   |   |   |   |   |   |   |
|                                                                                                                              |   | NYMEX natural gas contracts |   |   | $ | (907 | ) | $ | 3,989 |   |
|                                                                                                                              |   | NYMEX gasoline and heating oil contracts |   |   |   | 272 |   |   | 378 |   |
|                                                                                                                              | Total |   |   | $ | (635 | ) | $ | 4,367 |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              | Effective portion of gain (loss) reclassified from  accumulated OCI to income: |   |   |   |   |   |   |   |   |
|                                                                                                                              |   | NYMEX natural gas contracts | Non-Regulated Gas Marketing Operating Revenue |   | $ | 6,807 |   | $ | 11,217 |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   | Non-Regulated Gas Marketing |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   | Operating Expense |   |   | (3,017 | ) |   | (5,132 | ) |
|                                                                                                                              |   |   | Sub-total |   |   |   | 3,790 |   |   | 6,085 |   |
|                                                                                                                              |   |   | Other Regulated Gas |   |   |   |   |   |   |   |
|                                                                                                                              |   | NYMEX gasoline and heating oil contracts | Distribution Operating Expenses |   |   | 34 |   |   | 34 |   |
|                                                                                                                              | Total |   |   | $ | 3,824 |   | $ | 6,119 |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              | Ineffective portion of gain (loss) on derivative  recognized in income: |   |   |   |   |   |   |   |   |
|                                                                                                                              |   | NYMEX natural gas contracts | Non-Regulated Gas Marketing Operating Revenue |   | $ | 300 |   | $ | 482 |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   | Non-Regulated Gas Marketing |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   | Operating Expense |   |   | (208 | ) |   | (141 | ) |
|                                                                                                                              |   |   | Sub-total |   |   |   | 92 |   |   | 341 |   |
|                                                                                                                              |   | NYMEX gasoline and heating oil contracts | Other Regulated Gas Distribution Operating Expenses |   |   | 50 |   |   | 81 |   |
|                                                                                                                              | Total |   |   | $ | 142 |   | $ | 422 |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| Derivatives Not Designated as Hedging Instruments under SFAS No. 133 (b)                                                          |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              | Gain recognized in income on derivative: |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   | Natural gas commodity contracts | Non-Regulated Gas Marketing Operating Revenues |   | $ | 286 |   | $ | 450 |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   | NYMEX gasoline and heating oil contracts | Other Income and (Income Deductions) – Net |   |   | 10 |   |   | 17 |   |
|                                                                                                                              | Total |   |   | $ | 296 |   | $ | 467 |   |

| (a) | The Company prospectively adopted SFAS No. 161 in the second quarter of fiscal year 2009. Accordingly, amounts disclosed in this column exclude activity prior to January 1, 2009.                                                                                                                                                                                                     |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Gains and losses on Laclede Gas’ NYMEX natural gas derivative instruments, which are not designated as hedging instruments under SFAS No. 133, are deferred and recorded as regulatory assets or regulatory liabilities pursuant to SFAS No. 71. These gains and losses are excluded from the table above because they have no direct impacton the Statements of Consolidated Income. |

Table of Contents

|   | Fair Value of Derivative Instruments in the Consolidated Balance Sheet at June 30, 2009 |   |
|--------|-----------------------------------------------------------------------------------------|--------|
|   |                                                                                    |   |   |   |   |   |
|   |                                                                                    |   | Asset Derivatives |   | Liability Derivatives |   |
|   | (Thousands)                                                                             |   | Balance Sheet Location |   | FairValue | * | Balance Sheet Location |   | FairValue | * |
|   | Derivatives designated as hedging instruments under SFAS No. 133                        |   |   |   |   |   |   |   |   |   |
|   |                                                                                    |   |   |   |   |   |   |   |   |   |
|   |   NYMEX natural gas contracts                                                 |   | Derivative Instrument Assets | $ | 4,632 |   | Derivative Instrument Assets | $ | 982 |   |
|   |                                                                                    |   |   |   |   |   |   |   |   |   |
|   |   NYMEX gasoline and    heating oil contracts             |   | Derivative Instrument Assets |   | 387 |   | Derivative Instrument Assets |   | — |   |
|   |         Sub-total                               |   |   |   | 5,019 |   |   |   | 982 |   |
|   |                                                                                    |   |   |   |   |   |   |   |   |   |
|   | Derivatives not designated as hedging instruments underSFAS No. 133                     |   |   |   |   |   |   |   |   |   |
|   |                                                                                    |   |   |   |   |   |   |   |   |   |
|   |   NYMEX natural gas contracts                                                 |   | Derivative Instrument Assets |   | 5,751 |   | Derivative Instrument Assets |   | 87,206 |   |
|   |                                                                                    |   |   |   |   |   |   |   |   |   |
|   |   Natural gas commodity    contracts                      |   | Derivative Instrument Assets |   | 400 |   | Other Current Liabilities |   | — |   |
|   |                                                                                    |   |   |   |   |   |   |   |   |   |
|   |   NYMEX gasoline and    heating oil contracts             |   | Derivative Instrument Assets |   | 9 |   | Derivative Instrument Assets |   | — |   |
|   |         Sub-total                               |   |   |   | 6,160 |   |   |   | 87,206 |   |
|   | Total derivatives                                                                       |   |   | $ | 11,179 |   |   | $ | 88,188 |   |

| * | The fair values of Asset Derivatives and Liability Derivatives exclude the fair value of cash margin receivables or payables with counterparties subject to netting arrangements. At June 30, 2009, the amounts excluded were $94.6 million in receivables and $0.2 million in payables, all of which were associated with NYMEX contracts.Fair value amounts of derivative contracts (including the fair value amounts of cash margin receivables and payables) for which there is a legal right to set off are presented net on the Consolidated Balance Sheets. As such, the gross balances presented in the table above are not indicative of the Company’s net economic exposure. Refer to Note 6, Fair Value Measurements, for information on the valuation of derivative instruments. |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | CONCENTRATIONS OF CREDIT RISK |
|----|-------------------------------|

Table of Contents

| 9. | OTHER INCOME AND (INCOME DEDUCTIONS) – NET |
|----|--------------------------------------------------|

|   |                                             |   | Three Months Ended |   | Nine Months Ended |   |
|--------|--------------------------------------------------|--------|--------------------|--------|-------------------|--------|
|   |                                             |   | June 30,           |   | June 30,          |   |
|   | (Thousands)                                      |   | 2009               |   | 2008              |   | 2009 |   | 2008 |   |
|   |                                             |   |               |   |              |   |   |   |   |   |   |   |   |   |
|   | Interest income                                  |   | $                  | 631    |              | $      | 738 |   | $ | 2,433 |   | $ | 3,558 |   |
|   | Other income                                     |   |               | 927    |              |   | 472 |   |   | 2,264 |   |   | 1,192 |   |
|   | Other income deductions                          |   |               | (227   | )                 |   | (2,046 | ) |   | (2,380 | ) |   | (1,861 | ) |
|   | Other Income and (Income Deductions) – Net |   | $                  | 1,331  |              | $      | (836 | ) | $ | 2,317 |   | $ | 2,889 |   |

| 10. | INFORMATION BY OPERATING SEGMENT |
|-----|----------------------------------|

Table of Contents

|                          |   |         |      | Non-      |   |    |   |         |    |         |   |
|-------------------------------|--------|--------------|-----------|-----------|--------|---------|--------|--------------|---------|--------------|--------|
|                          |   | Regulated    |      | Regulated |   |    |   | Unallocated  |    |         |   |
|                          |   | Gas          |      | Gas       |   |    |   | &        |    |         |   |
| (Thousands)                   |   | Distribution |      | Marketing |   | Other   |   | Eliminations |    | Consolidated |   |
| Three Months Ended            |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| June 30, 2009                 |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| Revenues from external        |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   customers         |   | $            | 157,626   |      | $      | 144,580 |   | $            | 892     |         | $      | — |   | $ | 303,098 |   |
| Intersegment revenues         |   |         | 2,706     |      |   | 3,862   |   |         | 278     |         |   | — |   |   | 6,846 |   |
| Total Operating Revenues      |   |         | 160,332   |      |   | 148,442 |   |         | 1,170   |         |   | — |   |   | 309,944 |   |
| Income from continuing        |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   operations        |   |         | 2,329     |      |   | 4,266   |   |         | 282     |         |   | — |   |   | 6,877 |   |
| Total assets of continuing    |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   operations        |   |         | 1,488,404 |      |   | 151,360 |   |         | 125,070 |         |   | (98,830 | ) |   | 1,666,004 |   |
|                          |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| Nine Months Ended             |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| June 30, 2009                 |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| Revenues from external        |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   customers         |   | $            | 954,422   |      | $      | 659,782 |   | $            | 2,499   |         | $      | — |   | $ | 1,616,703 |   |
| Intersegment revenues         |   |         | 4,479     |      |   | 21,289  |   |         | 797     |         |   | — |   |   | 26,565 |   |
| Total Operating Revenues      |   |         | 958,901   |      |   | 681,071 |   |         | 3,296   |         |   | — |   |   | 1,643,268 |   |
| Income from continuing        |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   operations        |   |         | 40,647    |      |   | 27,465  |   |         | 882     |         |   | — |   |   | 68,994 |   |
| Total assets of continuing    |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   operations        |   |         | 1,488,404 |      |   | 151,360 |   |         | 125,070 |         |   | (98,830 | ) |   | 1,666,004 |   |
|                          |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| Three Months Ended            |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| June 30, 2008                 |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| Revenues from external        |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   customers         |   | $            | 189,597   |      | $      | 311,609 |   | $            | 984     |         | $      | — |   | $ | 502,190 |   |
| Intersegment revenues         |   |         | 1         |      |   | 3,037   |   |         | 260     |         |   | — |   |   | 3,298 |   |
| Total Operating Revenues      |   |         | 189,598   |      |   | 314,646 |   |         | 1,244   |         |   | — |   |   | 505,488 |   |
| Income (Loss) from continuing |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   operations        |   |         | 5,501     |      |   | 4,267   |   |         | (667    | )            |   | — |   |   | 9,101 |   |
| Total assets of continuing    |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   operations        |   |         | 1,382,002 |      |   | 177,893 |   |         | 113,369 |         |   | (112,078 | ) |   | 1,561,186 |   |
|                          |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| Nine Months Ended             |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| June 30, 2008                 |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
| Revenues from external        |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   customers         |   | $            | 1,016,302 |      | $      | 728,017 |   | $            | 2,995   |         | $      | — |   | $ | 1,747,314 |   |
| Intersegment revenues         |   |         | 1,277     |      |   | 7,814   |   |         | 779     |         |   | — |   |   | 9,870 |   |
| Total Operating Revenues      |   |         | 1,017,579 |      |   | 735,831 |   |         | 3,774   |         |   | — |   |   | 1,757,184 |   |
| Income (Loss) from continuing |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   operations        |   |         | 46,579    |      |   | 14,782  |   |         | (400    | )            |   | (264 | ) |   | 60,697 |   |
| Total assets of continuing    |   |         |      |      |   |    |   |         |    |         |   |   |   |   |   |   |
|   operations        |   |         | 1,382,002 |      |   | 177,893 |   |         | 113,369 |         |   | (112,078 | ) |   | 1,561,186 |   |

Table of Contents

| 11. | COMMITMENTS AND CONTINGENCIES |
|-----|-------------------------------|

10-K

10-K

Table of Contents

Note 2

Exhibit 99.1

Table of Contents

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

| • | weather conditions and catastrophic events, particularly severe weather in the natural gas producing areas of the country;                                                                                                                      |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | volatility in gas prices, particularly sudden and sustained changes in natural gas prices, including the related impact on margin deposits associated with the use of natural gas derivative instruments;                                       |
| • | the impact of higher natural gas prices on our competitive position in relation to suppliers of alternative heating sources, such as electricity;                                                                                               |
| • | changes in gas supply and pipeline availability; particularly those changes that impact supply for and access to our market area;                                                                                                               |
| • | legislative, regulatory and judicial mandates and decisions, some of which may be retroactive, including those affecting                                                                                                                        |
|    | •                                                                                                                                                                                                                                         | allowed rates of return |
|    | •                                                                                                                                                                                                                                         | incentive regulation |
|    | •                                                                                                                                                                                                                                         | industry structure |
|    | •                                                                                                                                                                                                                                         | purchased gas adjustment provisions |
|    | •                                                                                                                                                                                                                                         | rate design structure and implementation |
|    | •                                                                                                                                                                                                                                         | regulatory assets |
|    | •                                                                                                                                                                                                                                         | franchise renewals |
|    | •                                                                                                                                                                                                                                         | environmental or safety matters |
|    | •                                                                                                                                                                                                                                         | taxes |
|    | •                                                                                                                                                                                                                                         | pension and other postretirement benefit liabilities and funding obligations |
|    | •                                                                                                                                                                                                                                         | accounting standards; |
| • | the results of litigation;                                                                                                                                                                                                                      |
| • | retention of, ability to attract, ability to collect from, and conservation efforts of, customers;                                                                                                                                              |
| • | capital and energy commodity market conditions, including the ability to obtain funds with reasonable terms for necessary capital expenditures and general operations and the terms and conditions imposed for obtaining sufficient gas supply; |
| • | discovery of material weakness in internal controls; and                                                                                                                                                                                        |
| • | employee workforce issues.                                                                                                                                                                                                                      |

Table of Contents

exhibit

| • | the Utility’s ability to recover the costs of distribution of natural gas to its customers;                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the impact of weather and other factors, such as customer conservation, on revenues and expenses;                                                                    |
| • | adjusting to changes in the regulatory environment as well as decisions by regulators that impact the Utility’s ability to earn its authorized rate of return; |
| • | managing the Utility’s ability to access credit markets and maintain working capital sufficient to meet operating requirements; and,                           |
| • | managing the business in a period of natural gas price volatility.                                                                                                   |

| • | managing the risks of competition;                     |
|---------|--------------------------------------------------------|
| • | regional fluctuations in natural gas prices;           |
| • | new national pipeline infrastructure projects;         |
| • | managing access to credit and/or capital markets; and, |
| • | managing counterparty risks.                           |

Table of Contents

RegulatoryMatters

Liquidity and Capital Resources

Table of Contents

| Overview – Net Income (Loss) by Operating Segment |   | Quarter Ended |   |
|---------------------------------------------------------|--------|---------------|--------|
|                                                    |   |          |   | June 30, |   |
| (Millions, after-tax)                                   |   |          |   |   | 2009 |   |   |   |   | 2008 |   |
|                                                    |   |          |   |   |   |   |   |   |   |   |   |
| Regulated Gas Distribution                              |   |          |   | $ | 2.3 |   |   |   | $ | 5.5 |   |
| Non-Regulated Gas Marketing                             |   |          |   |   | 4.3 |   |   |   |   | 4.3 |   |
| Other                                                   |   |          |   |   | 0.3 |   |   |   |   | (0.7 | ) |
| Income from Continuing Operations                       |   |          |   |   | 6.9 |   |   |   |   | 9.1 |   |
| Income from Discontinued Operations                     |   |          |   |   | — |   |   |   |   | 0.2 |   |
| Net Income                                              |   |          |   | $ | 6.9 |   |   |   | $ | 9.3 |   |

| • | the effect of lower system gas sales volumes, primarily due to a return to more seasonable weather during the quarter ended June 30, 2009, compared with significantly cooler weather during the same quarter last year, and other variations totaling $2.8 million; and, |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the effect of higher income tax expense quarter-over-quarter primarily due to the net effect of various property-related deductions totaling $1.0 million.                                                                                                                          |

| • | higher Infrastructure System Replacement Surcharge (ISRS) revenues totaling $1.0 million. |
|---------|-------------------------------------------------------------------------------------------|

Table of Contents

|                                                                                               |   |
|----------------------------------------------------------------------------------------------------|--------|
| (Millions)                                                                                         |   |
| Lower prices charged for off-system sales                                                          |   | $ | (26.9 | ) |
| Higher off-system sales volumes                                                                    |   |   | 6.9 |   |
| Lower wholesale gas costs passed on to Utility customers (subject to prudence review by the MoPSC) |   |   | (5.5 | ) |
| Lower system sales volumes and other variations                                                    |   |   | (4.8 | ) |
| Higher ISRS revenues                                                                               |   |   | 1.0 |   |
| Total Variation                                                                                    |   | $ | (29.3 | ) |

Table of Contents

| Overview – Net Income (Loss) by Operating Segment |   | Nine Months Ended |   |
|---------------------------------------------------------|--------|-------------------|--------|
|                                                    |   |              |   | June 30, |   |
| (Millions, after-tax)                                   |   |              |   |   | 2009 |   |   |   |   | 2008 |   |
|                                                    |   |              |   |   |   |   |   |   |   |   |   |
| Regulated Gas Distribution                              |   |              |   | $ | 40.6 |   |   |   | $ | 46.6 |   |
| Non-Regulated Gas Marketing                             |   |              |   |   | 27.5 |   |   |   |   | 14.8 |   |
| Other                                                   |   |              |   |   | 0.9 |   |   |   |   | (0.7 | ) |
| Income from Continuing Operations                       |   |              |   |   | 69.0 |   |   |   |   | 60.7 |   |
| Income from Discontinued Operations                     |   |              |   |   | — |   |   |   |   | 20.8 |   |
| Net Income                                              |   |              |   | $ | 69.0 |   |   |   | $ | 81.5 |   |

| • | increases in operation and maintenance expenses, excluding the provision for uncollectible accounts, totaling $4.9 million;                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the effect of the recognition of previously unrecognized tax benefits and the reversal of related expenses recorded during the nine months ended June 30, 2008, totaling $1.5 million; and, |
| • | the effect of lower system gas sales volumes and other variations totaling $1.4 million.                                                                                                                   |

| • | higher ISRS revenues totaling $2.8 million;                                     |
|---------|---------------------------------------------------------------------------------|
| • | a lower provision for uncollectible accounts totaling $1.1 million; and,        |
| • | higher income from off-system sales and capacity release totaling $1.0 million. |

Table of Contents

|                                                                                               |   |
|----------------------------------------------------------------------------------------------------|--------|
| (Millions)                                                                                         |   |
| Lower prices charged for off-system sales                                                          |   | $ | (63.1 | ) |
| Higher off-system sales volumes                                                                    |   |   | 19.4 |   |
| Lower system sales volumes and other variations                                                    |   |   | (10.7 | ) |
| Lower wholesale gas costs passed on to Utility customers (subject to prudence review by the MoPSC) |   |   | (7.1 | ) |
| Higher ISRS revenues                                                                               |   |   | 2.8 |   |
| Total Variation                                                                                    |   | $ | (58.7 | ) |

Table of Contents

REGULATORY MATTERS

Table of Contents

CRITICAL ACCOUNTING POLICIES

10-K

|   | • | Allowances for doubtful accounts                 |
|--------|---------|--------------------------------------------------|
|   | • | Employee benefits and postretirement obligations |
|   | • | Regulated operations                             |

10-K

New Accounting Standards

Table of Contents

| Type of Facility                 | S&P | Moody’s | Fitch |
|----------------------------------|---------|---------------|-------|
| Laclede Group Issuer Rating      | A       |          | A-    |
| Laclede Gas First Mortgage Bonds | A       | A3            | A+    |
| Laclede Gas Commercial Paper     | A-1     | P-2           | F1    |

Table of Contents

LIQUIDITY AND CAPITAL RESOURCES

Table of Contents

Table of Contents

|                                         |   | Payments due by period |    |
|----------------------------------------------|--------|------------------------|---------|
|                                         |   |                   |    | Remaining |   |   |   |   |   | Fiscal Years |   |
| Contractual Obligations                      |   | Total                  |    | Fiscal Year2009 |   | Fiscal Years2010-2011 |   | Fiscal Years2012-2013 |   | 2014 andthereafter |   |
| Principal Payments on Long-Term Debt         |   | $                      | 390.0   |   | $ | — |   | $ | 25.0 |   | $ | 25.0 |   | $ | 340.0 |   |
| Interest Payments on Long-Term Debt          |   |                   | 512.0   |   |   | 2.5 |   |   | 48.4 |   |   | 45.1 |   |   | 416.0 |   |
| Operating Leases (a)                         |   |                   | 16.3    |   |   | 1.4 |   |   | 8.8 |   |   | 4.4 |   |   | 1.7 |   |
| Purchase Obligations – Natural Gas (b) |   |                   | 1,576.0 |   |   | 153.3 |   |   | 877.9 |   |   | 500.4 |   |   | 44.4 |   |
| Purchase Obligations – Other (c)       |   |                   | 104.2   |   |   | 7.9 |   |   | 26.1 |   |   | 17.6 |   |   | 52.6 |   |
| Total (d)                                    |   | $                      | 2,598.5 |   | $ | 165.1 |   | $ | 986.2 |   | $ | 592.5 |   | $ | 854.7 |   |

|     (a) | Operating lease obligations are primarily for office space, vehicles, and power operated equipment in the gas distribution segment. Additional payments will be incurred if renewal options are exercised under the provisions of certain agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|     (b)      | These purchase obligations represent the minimum payments required under existing natural gas transportation and storage contracts and natural gas supply agreements in the utility gas distribution and non-regulated gas marketing segments. These amounts reflect fixed obligations as well as obligations to purchase natural gas at future marketprices, calculated using June 30, 2009 forward market prices. Laclede Gas recovers the costs related to its purchases, transportation, and storage of natural gas through the operation of its PGA Clause, subject to prudence review; however, variations in the timing of collections of gas costs from customers affect short-term cash requirements. Additional contractual commitments are generally entered into prior to or during the heating season.                                                                                                                                                                                                                                                      |
|     (c)      | These purchase obligations reflect miscellaneous agreements for the purchase of materials and the procurement of services necessary for normal operations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|     (d)      | The categories of Capital Leases and Other Long-Term liabilities have been excluded from the table above because there are no applicable amounts of contractual obligations under these categories. Also, commitments related to pension and postretirement benefit plans have been excluded from the table above. The Company does not expect to makecontributions to its qualified, trusteed pension plans during the remainder of fiscal year 2009. Laclede Gas anticipates a $0.4 million contribution relative to its non-qualified pension plans during the remainder of fiscal year 2009. With regard to the postretirement benefits, the Company anticipates Laclede Gas will contribute $3.3 million to the qualified trusts and $0.1 million directly to participants from Laclede Gas’ funds during the remainder of fiscal year 2009. For further discussionof the Company’s pension and postretirement benefit plans, refer to Note 4, Pension Plans and Other Postretirement Benefits, of the Notes to Consolidated Financial Statements. |

MARKET RISK

Note 7

Table of Contents

Note 7

Note 8

Liquidity and Capital Resources

10-K
Note 11

Exhibit 99.1

Table of Contents

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Item 4. Controls and Procedures

Table of Contents

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

10-K
Note11
Regulatory Matters

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Item 6. Exhibits

| (a) | See Exhibit Index |
|-----|-------------------|

Table of Contents

SIGNATURES

|   |   |          | The Laclede Group, Inc. |
|--------|--------|---------------|-------------------------|
|   |   |          |                    |
| Dated: |   | July 31, 2009 |                    | By:  | /s/ Mark D. Waltermire |
|   |   |          |                    |   | Mark D. Waltermire |
|   |   |          |                    |   | Chief Financial Officer |
|   |   |          |                    |   | (Authorized Signatory and Chief Financial Officer) |

Table of Contents

SIGNATURES

|   |   |          | Laclede Gas Company |
|--------|--------|---------------|---------------------|
|   |   |          |                |
| Dated: |   | July 31, 2009 |                | By:  | /s/ Mark D. Waltermire |
|   |   |          |                |   | Mark D. Waltermire |
|   |   |          |                |   | Senior Vice President and |
|   |   |          |                |   | Chief Financial Officer |
|   |   |          |                |   | (Authorized Signatory and Chief Financial Officer) |

Table of Contents

INDEX TO EXHIBITS

| Exhibit No. |   |                                                                                                                                                                        |
|-------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                        |
| 10.1        | -      | Fourth Amendment to Amended and Restated Revolving Credit Agreement                                                                                                         |
|        |   |                                                                                                                                                                        |
| 12          | -      | Ratio of Earnings to Fixed Charges.                                                                                                                                         |
|        |   |                                                                                                                                                                        |
| 31          | -      | CEO and CFO Certifications under Exchange Act Rule 13a – 14(a).                                                                                                       |
|        |   |                                                                                                                                                                        |
| 32          | -      | CEO and CFO Section 1350 Certifications.                                                                                                                                    |
|        |   |                                                                                                                                                                        |
| 99.1        | -      | Laclede Gas Company - Financial Statements, Notes to Financial Statements, and Management’s Discussion and Analysis of Financial Condition and Results of Operations. |
|        |   |                                                                                                                                                                        |