8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 16, 2010

SOUTHERN UNION COMPANY

(Exact name of registrant as specified in its charter)

Delaware	1-6407	75-0571592
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

5444 Westheimer Road Houston, Texas (Address of principal executive offices) 77056-5306 (Zip Code)

Registrant's telephone number, including area code: (713) 989-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01 Regulation FD Disclosure

On March 16, 2010, members of Southern Union Company (the “Company”) senior management will present at the Morgan Stanley MLP and Diversified Natural Gas Corporate Access Day in New York. The presentation will focus on an overview of the Company, its organic growth projects and growth opportunities and the expected 2010 financial outlook.  In particular, the presentation contains information with respect to previously issued 2010 earnings guidance, projected pro forma adjusted EBITDA on a consolidated basis and by business segment and projected capital expenditures.

The Company is furnishing the presentation as Exhibit 99.1 hereto and has also made the presentation materials available on its website at www.sug.com.  The presentation materials attached hereto under Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

In the attached presentation, the Company uses pro forma earnings before interest and taxes, depreciation and amortization (EBITDA), adjusted EBITDA and adjusted net earnings; all  non-GAAP financial measures, as the performance measures to evaluate Company and segment performance. As defined in Regulation G, "Conditions for Use of Non-GAAP Financial Measures," a non-GAAP financial measure is a numerical measure of a company's historical or future performance, financial position or cash flows that excludes (includes) amounts, or is subject to adjustments that have the effect of excluding (including) amounts, that are included (excluded) in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles (GAAP). The Company provides a full Regulation G reconciliation of the non-GAAP financial measures used to evaluate Company and segment performance in the presentation..

ITEM 9.01. Financial Statements and Exhibits.

(d) Exhibits.

        Exhibit No.                   Exhibit

99.1  2010 Morgan Stanley MLP and Diversified Natural Gas Corporate Access Day Presentation

This 8-K includes forward-looking statements and projections.  The Company has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release.  Important factors that could cause actual results to differ materially from the projections, anticipated results or other expectations herein are enumerated in the Company’s Securities and Exchange Commission filings.  While the Company makes these statements and projections in good faith, neither the Company nor its management can guarantee that anticipated future results will be achieved. Reference must be made to those filings for additional important factors that may affect actual results. The Company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the Company, whether as a result of new information, future events, or otherwise.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	SOUTHERN UNION COMPANY
	(Registrant)
Date: March 16, 2010	By:	/s/ Robert M. Kerrigan, III
		Robert M. Kerrigan, III
		Vice President - Assistant General Counsel and Secretary

EXHIBIT INDEX

              Exhibit No.                                     Description

              99.1 2010 Morgan Stanley MLP and Diversified Natural Gas Corporate Access Day Presentation

EX-99.1

Morgan Stanley

Corporate Access Day

March 16, 2010

Forward-Looking Statements

Company Overview

•   Focus on natural gas infrastructure

–   Attractive industry outlook

–   Natural gas is key to America’s energy future

–   High-quality assets with diverse supply and strong markets

•   Principally regulated asset base

–   Provides earnings and cash flow stability through long-term contracts

–   Business model proven to weather economic cycles

•   Organic growth projects provide low-risk growth trajectory

Map of Operations

Company Facts

Transportation & Storage

 •   Vast pipeline network with access to diverse supply sources and growing markets

•   Approximately 15,000 miles of interstate pipelines with transportation capacity of 7.8 Bcf/d

•   One of North America’s largest liquefied natural gas (LNG) import terminals with peak send out of 2.1 Bcf/d and storage of 9 Bcf

•   Owns/leases approximately 100 Bcf of storage

Transportation & Storage Assets

Trunkline LNG:

Infrastructure Enhancement Project

FGT Phase VIII Expansion

FGT Phase VIII Expansion Timeline

FGT Pascagoula Lateral

Gathering & Processing

•   Located in prolific, long-lived Permian Basin

•   Approximately 5,500 miles of gas and gas liquids pipelines covering 16 counties in West Texas/Southeast New Mexico

•   Two fully-integrated midstream systems (North and South) connected via high-pressure pipelines

•   Four active cryogenic plants and six active treating plants

–   Restarted Mi Vida treating facility in February 2010

–   Expect to restart Halley processing plant in 4Q2010

•   Attractive downstream markets

•   Attractive contract mix:  98%+ POP / Fee-based

Map of Operations

North System

•   Consists of the Jal and Keystone Systems

–   Low pressure integrated sour gas gathering systems

–   Average processed volumes over 200 MMcfd

–   22,000+ barrels per day (bpd) NGL production

–   225 MMcfd cryogenic processing capacity

–   325 MMcfd sour gas treating capacity

–   40 tons per day sulfur plant capacity

–   Recent compression and high pressure pipeline upgrades

–   Treating capacity expansion at Jal 3 plant, including acid gas injection well, completed early 2009

South System

•   Consists of the Mi Vida, Coyanosa and Tippett Systems

–   High pressure integrated sweet and sour gas gathering systems

–   Average wellhead volumes 270 MMcfd

–   Average processed volumes 170 MMcfd

–   11,000+ bpd  NGL production

–   190 MMcfd cryogenic processing capacity

–   250 MMcfd sour gas treating capacity

•   Grey Ranch System (50% ownership)

–   High CO2 gathering and treating system

–   Earn fixed fee for removing CO2 from gas

–   200 MMcfd treating capacity

High Pressure Transfer System

Gas Supply

•   Substantially eliminated true keep whole exposure

•   Changed gas pricing mechanism – First of Month to Gas Daily

–   Matches daily priced gas to daily priced NGL’s

–   Mitigates risk from daily volume swings

•   Producer indemnifications negotiated on many capital intensive projects

2010 Growth Opportunities

Gathering & Processing Assumptions

•   Positive processing spread environment encourages optimal Natural Gas Liquid recoveries; Normalized fuel, flare and unaccounted-for volumes

•   2010 projected equity volumes

–   Natural Gas Liquids equivalent of 40,000 to 45,000 MMBtu/d

–   Natural Gas of 7,000 to 15,000 MMBtu/d

•   2010 hedge positions

–   40,000 MMBtu/d of NGL equivalent at $10.44

–   5,000 MMBtu/d of natural gas $5.33

•   2011 hedge positions

–   25,000 MMBtu/d of NGL equivalent at $11.63

Distribution

•   Missouri Gas Energy

–   Provides natural gas to over 500,000 customers

–   Nearly 13,000 miles of main and service lines

–   Received a $16.2MM annual base rate increase effective February 28, 2010

•   New rate design eliminates impact of weather or conservation on margin for residential and small general service customer classes

•   New England Gas Company

–   Provides natural gas to 50,000 customers

–   Nearly 2,000 miles of main and service lines

–   Received $3.7MM in increased annual base rates in February 2009

Corporate & Other

•   Corporate segment provides administrative and support functions to business segments and allocates expenses as appropriate

•   Other segment primarily consists of PEI Power Corporation which owns interests in and operates 75 MW of generating assets in the PJM ISO and Fall River Gas Appliance

Summary

  •   Focus on natural gas related infrastructure

•   Actively managed hedging program helps mitigate volatility in NGL margins

•   Organic growth projects with clear visibility towards earnings and cash flow growth

•   Balance preservation of investment grade credit ratings and return of capital to shareholders

2010 Financial Outlook

2010 Outlook

•   2010 adjusted net earnings per share of $1.75 to $1.95

•   2010 reported net earnings per share of $1.92 to $2.12

EPS Reconciliation

2010 Consolidated Adjusted EBITDA

2010 Adjusted Segment EBITDA

2010 Adjusted EBITDA by Segment

2010 Net Capital Expenditure Guidance

SUG General Assumptions

•   Approximately 125 million weighted average diluted shares outstanding

•   Effective income tax rate of 30.3%

•   Interest expense, net of capitalized interest, approximately $225 to $235 million

Reg. G Reconciliation

Reg. G Reconciliation – continued