SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, DC  20549
                                  FORM 10-Q
(Mark One)

[x]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2001

                                      OR

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

For the transition period from            to

Commission file number 0-1055

                        FLORIDA PUBLIC UTILITIES COMPANY
           (Exact name of registrant as specified in its charter)

           Florida                                   59-0539080
(State or other jurisdiction of       (I.R.S. Employer Identification No.)
 incorporation or organization)

401 South Dixie Highway, West Palm Beach, FL          33401
  (Address of principal executive offices)          (Zip Code)

(Registrant's telephone number, including area code)   (561) 832-2461

(Former name, former address and former fiscal year, if changed since last
report)

  Indicate by check mark whether the registrant (1) has filed all reports
  required to be filed by Section 13 or 15(d) of the Securities Exchange Act
  of 1934 during the preceding 12 months (or for such shorter period that the
  registrant was required to file such reports), and (2) has been subject to
  such filing requirements for the past 90 days.  Yes  x    No

              APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                 PROCEEDINGS DURING THE PRECEDING FIVE YEARS

  Indicate by check mark whether the registrant has filed all documents and
  reports required to be filed by Sections 12, 13 or 15(d) of the Securities
  Exchange Act of 1934 subsequent to the distribution of securities under a
  plan confirmed by a court.  Yes    No   N/A

                     APPLICABLE ONLY TO CORPORATE ISSUERS

  Indicate the number of shares outstanding of each of the issuer's classes
  of common stock, as of the latest practicable date.  At October 31, 2001
  there were 2,854,663 shares of $1.50 par value common shares outstanding.


                       FLORIDA PUBLIC UTILITIES COMPANY
              CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
                               (in thousands)

                                        September 30,      December 31,
                                            2001              2000
ASSETS

Utility Plant                                $142,549          $132,903
  Less accumulated depreciation                51,116            48,703
  Net utility plant                            91,433            84,200
Current Assets
  Cash                                             92                66
  Accounts receivable                           8,659            11,401
  Allowance for uncollectible accounts           (123)             (162)
  Inventories                                   3,083             2,884
  Prepayments and deferrals                       459               452
  Underrecovery of fuel and conservation          179               903
      Total                                    12,349            15,544
Investments Held in Escrow for
  Environmental Costs                           2,877             2,876
  Deferred Charges                              7,680             5,968
      Total                                 $ 114,339         $ 108,588

CAPITALIZATION AND LIABILITIES

Capitalization
  Common shareholders' equity                $ 28,788          $ 27,510
  Preferred stock                                 600               600
  Long-term debt                               38,500            23,500
      Total                                    67,888            51,610

Current Liabilities
  Notes payable                                 9,460            17,900
  Accounts payable                              4,472            10,337
  Insurance accrued                             2,463             2,389
  Interest accrued                              1,190               625
  Customer deposits                             4,086             4,192
  Overrecovery of fuel                          1,987                 0
  Other                                         4,040             2,577
      Total                                    27,698            38,020

Deferred Credits                                9,271             8,893

Deferred Income Taxes and
  Regulatory Liability                          9,482            10,065
      Total                                 $ 114,339         $ 108,588

See notes to condensed consolidated financial statements.


                       FLORIDA PUBLIC UTILITIES COMPANY
            CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
                (dollars in thousands, except per share data)

                         Three Months Ended         Nine Months Ended
                            September 30,              September 30,
                         2001          2000         2001         2000

Revenues
  Electric           $ 10,857      $ 11,083     $ 30,233     $ 29,795
  Natural gas           6,771         7,553       36,536       26,069
  Propane gas             988           783        4,011        3,220
  Water                   805           763        2,237        2,105
    Total revenues     19,421        20,182       73,017       61,189

  Pass-through expenditures
   including cost
   of fuel             11,819        12,959       48,382       38,044

Gross Profit            7,602         7,223       24,635       23,145

Operating Expenses
  Operations            4,367         3,981       13,159       11,877
  Depreciation          1,199         1,162        3,604        3,503
  Taxes other
  than income taxes       608           595        1,877        1,762
  Income taxes            185           198        1,196        1,208
    Total
    operating expenses  6,359         5,936       19,836       18,350

Operating Income        1,243         1,287        4,799        4,795

Interest Expense         (833)         (885)      (2,549)      (2,566)
Other - Net               128            78          271          203

Net Income                538           480        2,521        2,432

Preferred Stock Dividends   7             7           21           21

Earnings for
Common Stock          $   531       $   473      $ 2,500      $ 2,411

Earnings Per
Common Share          $   .19       $   .17      $   .88      $   .86

Dividends Per
Common Share          $   .19       $   .18      $   .55      $   .52

Average
Shares Outstanding  2,851,128     2,824,431    2,843,198    2,816,744

See notes to condensed consolidated financial statements.

                     FLORIDA PUBLIC UTILITIES COMPANY
	CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                               (in thousands)

                                             Nine Months Ended
                                               September 30,
                                            2001           2000

Net Cash Flow provided by
Operating Activities                     $ 6,127        $ 7,456

Cash Flows from Investing Activities
  Construction expenditures              (10,812)        (7,284)
  Other                                      308            110
    Net cash used in investing
    activities                           (10,504)        (7,174)

Cash Flows from Financing Activities
  Net change in short-term borrowings     (8,440)           800
  Net change in long-term borrowings      14,068              0
  Dividends paid                          (1,567)        (1,482)
  Other                                      342            334

    Net cash provided by
    financing activities                   4,403           (348)

Net change in cash                            26            (66)

Cash at beginning of period                   66            165

Cash at end of period                    $    92        $    99

See notes to condensed consolidated financial statements.


                     FLORIDA PUBLIC UTILITIES COMPANY
          NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001

1.      In the opinion of the Company the accompanying unaudited consolidated
financial statements have been prepared in accordance with accounting
principles generally accepted in the United States of America ("generally
accepted accounting principles") for interim financial information and with
the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly,
they do not include all of the information and footnotes required by
generally accepted accounting principles for complete financial statements.
All adjustments, consisting of normal recurring accruals, considered
necessary for a fair presentation have been included.  Due to the seasonal
nature of the Company's business the operating results for the period are not
necessarily indicative of the results that may be expected for the full year.
For further information refer to the audited consolidated financial
statements and footnotes thereto included in the Company's Annual Report on
Form 10-K for the year ended December 31, 2000.

2.      The First Mortgage Bond Indentures provide for restrictions on the
payment of cash dividends.  At September 30, 2001, under the most restrictive
provision, approximately $6,200,000 of retained earnings were unrestricted.

3.      The Company issued First Mortgage bonds (insured quarterly notes) to
the public for an aggregate amount of $15,000,000 on September 27, 2001.  The
callable bonds have an interest rate of 6.85% with a maturity date of October
1, 2031.

4.       Segment information is summarized as follows (in thousands):

         Three months ended:
                                 Regulated                Non-Regulated
        September 30, 2001   Gas  Electric   Water  Propane Gas  Consolidated

        Revenues          $6,771   $10,857   $ 805         $988       $19,421
        Operating Income     296       733     212            2         1,243

        September 30, 2000

        Revenues           7,553    11,083     763          783        20,182
        Operating Income     339       776     214          (42)        1,287

	Nine months ended:
                                 Regulated                Non-Regulated
        September 30, 2001   Gas  Electric   Water  Propane Gas  Consolidated

        Revenues         $36,536   $30,233 $ 2,237       $4,011       $73,017
        Operating Income   2,091     1,967     512          229         4,799

        September 30, 2000

        Revenues          26,069    29,795   2,105        3,220        61,189
        Operating Income   2,133     1,994     537          131         4,795

Notes:
a.      Operating income consists of revenues less operating expenses and
does not include interest and other income.

b.	Total assets have not changed materially from December 31, 2000.

5.	Recent Accounting Pronouncements
Effective January 1, 2001, the Company adopted Statement of Financial
Accounting Standards ("SFAS") No. 133 "Accounting for Derivative Instruments
and Hedging Activities" as amended by SFAS No. 138, "Accounting for Certain
Derivative Instruments and Certain Hedging Activities."  The Statement
establishes accounting and reporting standards requiring that every
derivative instrument (including certain derivative instruments embedded in
other contracts) be recorded in the balance sheet as either an asset or
liability measured at its fair value.  The statement requires that changes
in the derivatives' fair value be recognized currently in earnings unless
specific hedge accounting criteria are met.  The effects of applying SFAS
Nos. 133 and 138 through September 30, 2001 were not material to the
Company's financial statements.

In July 2001, the FASB issued SFAS No. 141, "Business Combinations," and
SFAS No. 142, "Goodwill and Other Intangible Assets."  SFAS No. 141 requires
that the purchase method of accounting be used for all business combinations
initiated after June 30, 2001 and eliminates the pooling-of-interests method
of accounting.  SFAS No. 142 specifies that, among other things, intangible
assets with an indefinite useful life and goodwill will no longer be
amortized.  The standard requires goodwill to be periodically tested for
impairment and written down to fair value if considered impaired.  The
provisions of SFAS No. 142 are effective for fiscal years beginning after
December 15, 2001, and are effective for interim periods in the initial year
of adoption.  The effects of adopting SFAS Nos. 141 and 142 are not currently
material to the Company's financial statements, although future acquisitions
would be effected by these statements.

In August 2001, the FASB issued SFAS No. 143, "Accounting for Asset
Retirement Obligations."  The statement requires that the fair value of an
asset retirement obligation be recognized in the period in which it is
incurred and the associated asset retirement costs capitalized as part of the
carrying amount of the long-lived asset.  The asset retirement cost is
subsequently allocated to expense using a systematic and rational method
over its useful life.  SFAS No. 143 is effective for fiscal years beginning
after June 15, 2002.  Management is in the process of evaluating the impact
of implementing SFAS 143 and is unable to estimate the effect, if any, on the
Company's financial statements.

In October 2001, the FASB issued SFAS No. 144, "Accounting for the Impairment
or Disposal of Long-Lived Assets."  The statement addresses financial
accounting and reporting for the impairment or disposal of long-lived assets.
The statement supercedes, with exceptions, SFAS No. 121, "Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed of."
SFAS No. 144 is effective for fiscal years beginning after December 15, 2001.
Management is in the process of evaluating the impact of implementing SFAS
144 and is unable to estimate the effect, if any, on the Company's financial
statements.

6.	Subsequent Events

The Company anticipates issuing $14,000,000 of Palm Beach County municipal
bonds (Industrial Development Revenue Bonds) on or around November 14, 2001
to finance development in the area.  The interest rate on the thirty-year
callable bonds is expected to be 4.90%  The funds will be available from a
trustee as construction is performed during 2001, 2002, and 2003.


                  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
               FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Financial Condition.  The Company has a $20,000,000 line of credit with its
primary bank of which $4,460,000 is outstanding, a $2,500,000 line of credit
with a secondary bank which is all outstanding, and a short-term note of
$2,500,000 payable on October 1, 2001.  The primary line and note provide for
interest at LIBOR plus fifty basis points and the line of credit at the
second bank is at LIBOR plus thirty basis points.  The Company is approved by
the Florida Public Service Commission to borrow up to $25,000,000 on a line
of credit basis, $24,000,000 of which is available for general corporate
purposes, with the remaining $1,000,000 reserved as a contingency for major
storm repairs in the Marianna electric division.

Florida Public Utilities Company (FPUC) filed an application on December 12,
2000, seeking Commission approval pursuant to Section 366.04, Florida
Statutes <www.leg.state.fl.us/statutes> and Chapter 25-8, Florida
Administrative Code, to issue and sell and/or exchange any combination of
long-term debt, short-term notes and equity securities and/or to assume
liabilities or obligations as guarantor, endorser or surety during calendar
year 2001. FPUC filed an amendment to its original application on January 19,
2001, which increased the dollar amount of its authority to $60 million in
long-term debt, short-term notes and equity securities, or any combination
thereof.  Notice of FPUC's application was given in the Florida
Administrative Weekly on February 9, 2001.  The Company received approval
from the Florida Public Service Commission to issue a total aggregate debt
amount not to exceed $60 million on March 14, 2001.  On April 17, 2001,
stockholders approved an amendment to the Company's Certificate of
Reincorporation to increase the authorized shares of Common Stock from
3,500,000 to 6,000,000 shares.

The Company issued First Mortgage bonds (insured quarterly notes) to the
public for an aggregate amount of $15,000,000 on September 27 2001.  The
callable bonds have an interest rate of 6.85%, with a maturity date of
October 1, 2031.

The Company anticipates issuing $14,000,000 of Palm Beach County municipal
bonds (Industrial Development Revenue Bonds) on or around November 14, 2001
to finance development in the area.  The interest rate on the thirty-year
callable bonds is expected to be 4.90.  The funds will be available from a
trustee as construction is performed during 2002, 2002, and 2003.

A construction contract was executed with a generation facility located in
Palm Beach County to construct a gas line to the facility.  The estimated
cost of constructing the line is $5,400,000 with completion by February 2002.
Proceeds from the Palm Beach County municipal bonds will be used to finance
the project.

Overview.  The Company is organized into three regulated operations: natural
gas, electric and water, and a non-regulated operation, propane gas.  The
water operations are not significant, approximating 3% of 2001 revenues.

The Company provides merchandise sales and piping services that are included
in other income. A new "Hearth and Patio" retail store is opening in the
electric operating area in November 2001 and will offer upscale energy
products.

Results of Operations.

Summary of Gross Profit:              Quarter Ended September 30,
    (in thousands)                         2001          2000

  Natural Gas                           $ 3,243       $ 3,137
  Propane Gas                           $   613       $   524
  Electric                              $ 2,977       $ 2,834

                                       Year to Date September 30,
                                           2001          2000

  Natural Gas                          $ 11,803      $ 11,314
  Propane Gas                          $  2,260      $  2,016
  Electric                             $  8,431      $  7,804

Gross Profit.  Gross Profit, defined as gross operating revenues less fuel
costs, conservation and unbundling costs, and taxes based on revenues that
are passed through to customers, provides a more meaningful basis for
evaluating utility operations. Fuel, conservation, and unbundling costs along
with taxes passed through to customers have no effect on results of
operations and fluctuations in such costs distort the relationship of gross
operating revenues and gross profit (net revenues retained by the Company for
operating purposes).

Contributing to variations in gross profits are the effects of seasonal
weather conditions, the timing of rate increases, and the migration of winter
residents and tourists to Florida during the winter season.

Three Months Ended September 30, 2001 Compared
with Three Months Ended September 30, 2000

Natural and Propane Gas Service.  Natural gas service gross profit increased
$106,000.  The gross profit increased primarily due to a 4% increase in
dekatherm sales along with $42,000 in newly assessed late fees in 2001.
Propane service experienced an increase in gross profit of $89,000 due to
increased dekatherm sales that were influenced by a new start up operation
along with billing $6,000 in late fees in 2001.

Electric Service.  Electric service gross profit increased $143,000, KWH
consumption increased 5% excluding General Service Large Volume customers
and customer growth was relatively flat. The consumption increases
contributed to the gross profit increase, along with last year's reduction
to revenue of $112,000 to reserve for estimated over-earnings. The Company
began charging late fees from customers in 2001 that added approximately
$38,000 for electric customers during the quarter.

Interest.  Interest expense decreased over $51,000 due to lower interest
rates in 2001.

Other - Net.  Income from merchandise and services increased over $83,000.
The gas division's conservation program contributed to merchandise sale
increases by offering rebates to customers on merchandise purchases.

Operating Expenses.  Operating expenses in 2001 increased by $386,000, or
9%, excluding cost of fuel, unbundling and conservation expenses, taxes
passed on to customers, and income taxes.  In 2001 the Company added to its
labor force resulting in additional payroll expense of $210,000 and other
labor related expenses.  Excluding labor increases, maintenance expenses
decreased $62,000 and operation expenses were up $238,000.

The added payroll is due to supporting growth, a new customer information
and billing system, a start up operation for the new Fernandina propane
division, new conservation programs, a change in the Human Resource Manager,
hiring two safety directors, the change of all vehicle maintenance to
in-house, and new positions in the water department as required by
regulation and growth.  The water positions and related expenditures will be
recovered in future revenue as they were included in the recent rate cases
approved by the Florida Public Service Commission.  Conservation expenses
including payroll are recovered in revenue each month.  The safety
directors should assist in lowering workman's compensation insurance costs
and lost time.  The start up propane operation is expected to generate
adequate revenue to cover operating costs within two years and performing
vehicle maintenance in-house should produce savings in the future.

Maintenance decreases were due to a reduction in tree trimming in the
electric divisions. Operation expenses were up due to a more sophisticated
and outsourced billing system, medical and pension credits in the prior year,
and increased selling expenses in the natural gas area due to expanding
marketing efforts.

Nine Months Ended September 30, 2001 Compared
with Nine Months Ended September 30, 2000

Natural and Propane Gas Service.  Natural gas service gross profit increased
$489,000 principally due to a 4% increase in average customers and
consumption, excluding transportation and off-system sales.  The customer
growth along with colder weather in January and March of 2001 contributed
to the increased consumption.  In addition the Company began charging late
fees in 2001 that amounted to over $122,000.

Propane gas gross profit increased $244,000.  The Fernandina start up
operation generated $75,000 of the increase with cold weather in January
and March contributing to the remaining increase.  In addition new late fees
in 2001 amounted to $18,000.

Electric Service.  Electric service gross profit increased $627,000.  Average
customers increased over 2% and consumption increased 3% excluding General
Service Large Volume customers.  The customers and consumption increases were
contributing factors to the gross profit increase.  Also, last year $284,000
was reserved for overearnings thereby reducing gross profit.  Newly
established late fees amounted to over $98,000 in additional revenue in
2001.

Other - Net.  Income from merchandise and services increased over $125,000.
The gas division's conservation program contributed to merchandise sale
increases by offering rebates to customers on merchandise purchases.

Operating Expenses.  In 2001, operating expenses increased $1,282,000, or
10.8%, excluding cost of fuel, unbundling and conservation expenses, taxes
passed through to customers, and income taxes.  In 2001 the Company added
to its labor force resulting in additional payroll expense of $680,000 and
other labor related expenses.  Excluding labor increases, maintenance
expenses increased over $145,000 and operation expenses were up $457,000.

The added payroll is supporting growth, a new customer information and
billing system, a start up operation for the new Fernandina propane division,
staffing of marketing positions, replacement of management positions in
Information Technology and Human Resources departments, two full time safety
directors, the change of all vehicle maintenance and line locations to
in-house, and new positions in the water department as required by regulation
and growth.  The water positions and related expenditures will be recovered
in future revenue as they were included in the recent rate cases approved by
the Florida Public Service Commission.  The safety directors should assist
in lowering workman's compensation insurance costs and lost time.  As the
start-up propane operation continues it is expected to generate additional
revenue to cover operating costs. Performing vehicle maintenance and line
locations in-house should produce savings in the future.

Maintenance increases were due to substation maintenance work of $150,000
(including some labor), transmission line access, overhead line balancing
related to the cold weather earlier in the year, and unexpected weather
related outages.  In the gas division we had expenses relating to the
repositioning of mains due to road construction projects. Operation expenses
increased due primarily to a more sophisticated and outsourced billing
system.  Additionally, selling expenses increased in the natural gas area
due to expanding marketing efforts, along with a $143,000 increase for
pensions, medical, and employee benefits.


PART II.

                              OTHER INFORMATION

Item 2.	Changes in Securities and Use of Proceeds

(d)     The First Mortgage Bond Indentures provide for restrictions on the
payment of cash dividends.  At September 30, 2001, under the most restrictive
provision, approximately $6,200,000 of retained earnings were unrestricted.

Item 4. None

Item 6. Exhibits and reports on Form 8-K

(a)	None required

(b)     Reports on Form 8-K:
There were no reports on Form 8-K filed for the quarter ending September 30,
30, 2001.

                             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.

FLORIDA PUBLIC UTILITIES COMPANY
(Registrant)


By  /s/ George M Bachman
George M Bachman
Chief Financial Officer

        AND

By  /s/ John T English
John T English
Chief Executive Officer

November 12, 2001