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 March 31, 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 April 30, 2001
there were 2,840,171 shares of $1.50 par value common shares outstanding.


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

                                      March 31,       December 31,
                                          2001               2000

ASSETS

Utility Plant                         $135,590           $132,903
  Less accumulated depreciation         49,614             48,703
  Net utility plant                     85,976             84,200
Current Assets
  Cash                                      89                 66
  Accounts receivable                   11,560             11,401
  Allowance for uncollectible accounts    (296)              (162)
  Inventories                            2,846              2,884
  Prepayments and deferrals                240                452
  Underrecovery of fuel and conservation   199                903
      Total                             14,638             15,544
Investments Held in Escrow for
  Environmental Costs                    2,919              2,876
Deferred Charges                         6,054              5,968
      Total                          $ 109,587          $ 108,588

CAPITALIZATION AND LIABILITIES

Capitalization
  Common shareholders' equity         $ 28,623           $ 27,510
  Preferred stock                          600                600
  Long-term debt                        23,500             23,500
      Total                             52,723             51,610

Current Liabilities
  Notes payable                         20,200             17,900
  Accounts payable                       6,330             10,337
  Insurance accrued                      2,378              2,389
  Interest accrued                         860                625
  Other                                  4,139              2,577
  Customer deposits                      4,117              4,192
      Total                             38,024             38,020

Deferred Credits                         9,102              8,893

Deferred Income Taxes and
  Regulatory Liability                   9,738             10,065
      Total                          $ 109,587          $ 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
                                                            March 31,
                                                     2001            2000

Revenues
  Electric                                        $ 9,912         $ 9,258
  Natural gas                                      18,820          10,225
  Propane gas                                       1,747           1,431
  Water                                               621             554
    Total revenues                                 31,100          21,468
  Cost of fuel and taxes
   based on revenues                               21,929          12,847
Operating Margin                                    9,171           8,621

Operating Expenses
  Operations                                        4,213           3,921
  Depreciation                                      1,272           1,172
  Taxes other than income taxes                       663             600
  Income taxes                                        785             761
    Total operating expenses                        6,933           6,454

Operating Income                                    2,238           2,167

Interest Expense                                     (853)           (830)
Other - Net                                           118              76


Net Income                                          1,503           1,413

Preferred Stock Dividends                               7               7

Earnings for Common Stock                         $ 1,496         $ 1,406

Earnings Per Common Share                         $   .53         $   .50

Dividends Per Common Share                        $   .18         $   .17

Average Shares Outstanding                      2,836,797       2,810,801

See notes to condensed consolidated financial statements.



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

                                                        Three Months
                                                     Ended March 31,
                                                      2001      2000


Net Cash Flow provided by Operating Activities         974     4,953

Cash Flows from Investing Activities
  Construction expenditures                         (2,981)   (2,021)
  Other                                                118        12
    Net cash used by investing activities           (2,863)   (2,009)

Cash Flows from Financing Activities
  Net change in short-term borrowings                2,300    (1,000)
  Dividends paid                                      (516)     (483)
  Other                                                128       137

Net cash provided (used) in financing activities     1,912    (1,346)

Net Increase in Cash                                    23     1,598

Cash at Beginning of Period                             66       165

Cash at End of Period                               $   89  $  1,763


See notes to condensed consolidated financial statements.




                  FLORIDA PUBLIC UTILITIES COMPANY
	NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                          MARCH 31, 2001


1.	In the opinion of the Company the accompanying unaudited
consolidated financial statements have been prepared in
accordance with 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.  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 March 31, 2001, under the
most restrictive provision, approximately $6,200,000 of retained
earnings were unrestricted.

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

Three months ended             Regulated          Non-Regulated
 March 31, 2001            Gas  Electric  Water    Propane Gas   Consolidated

 Revenues              $18,820    $9,912  $ 621         $1,747        $31,100
 Operating profit        1,779       862    145            237          3,023

 March 31, 2000

 Revenues               10,224     9,258    554          1,432         21,468
 Operating profit        1,776       810    120            222          2,928

 Notes:

    1.      Operating profit consists of revenues less operating expenses
            and does not include interest, income taxes, and other income.

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

4.	FASB 133 Footnote
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 were not material to the
Company's financial statements.
In April 2001, the Financial Accounting Standards Board (FASB)
reached tentative conclusions on several issues related to the
utility industry.  After considering comments on the tentative
conclusions, the FASB will issue final guidance that would be
applied in the quarter following final resolution of the issues.
At this time, management is unable to estimate the effects on the
financial statements of the tentative conclusions or any future
decisions of the FASB.





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

Financial Condition.  The Company has a $25,000,000 line of credit
with its primary bank, of which $20,200,000 is outstanding.  The line
provides for interest at LIBOR plus fifty 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.  The Company is in the process of
renewing the line of credit with its primary bank.  The Company is
seeking approval from the Florida Public Service Commission to issue
a total aggregate debt amount not to exceed $60,000,000 during the
calendar year of 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.

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
2% of 2001 revenues.

Contributing to variations in operating margins 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.


Results of Operations.


Operating Margin (in thousands)                     Quarter Ended
         for the quarter ended:                 2001     2000     1999

  Natural Gas                                $ 4,911  $ 4,687  $ 4,339
  Propane Gas                                $   921  $   872  $   844
  Electric                                   $ 2,745  $ 2,532  $ 2,351

Operating Margin.  Operating margin, defined as gross operating
revenues less fuel costs, conservation costs, and taxes based on
revenues that are passed through to customers, provides a more
meaningful basis for evaluating utility operations. Fuel and
conservation 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 operating
margin (net revenues retained by the Company for operating purposes).

Three Months Ended March 31, 2001 Compared
with Three Months Ended March 31, 2000

Natural and Propane Gas Service.  Natural gas service operating margin
increased $224,000 in 2001 as compared with 2000.  The operating margin
increased primarily due to colder weather in January and March of 2001
and customer growth. The natural gas segment of the Company experienced
over a 40,000 increase in therm sales, along with over a 5% increase in
customers, over the same quarter in 2000.  The Company also began
charging late fees from customers in March 2001 that amounted to
approximately $28,000 for natural and propane gas customers.

Electric Service.  Electric service operating margin increased
$213,000 as compared with 2000. As compared with the first quarter
last year, KWH consumption increased approximately 7% primarily due
to customer growth of 2.6% and colder weather experienced in 2001.
The Company began charging late fees from customers in the first
quarter of 2001 that amounted to approximately $25,000 for electric
customers.

Other - Net.  Income from the merchandise and jobbing area included
in the Net was up $51,000 due to increased sales resulting from new
construction and merchandise sales.  The gas division's conservation
program contributed to the sales increase by offering rebates to
customers on merchandise purchases.

Operating Expenses.  Operating expenses in 2001 increased $455,000,
or 8%, excluding cost of fuel and conservation expenses, taxes that
are passed through to customers, and income taxes.  The major items
contributing to the increased expense in 2001 were a new customer
service and billing system that went into effect in October 2000,
increased labor and associated expenses, maintenance expenses in the
electric area related to transmission line access, additional
electric maintenance for overhead line balancing related to the cold
weather, repositioning of mains in the gas division due to road
construction projects, and selling expenses in the natural gas area
due to expanding marketing efforts.

Three Months Ended March 31, 2000 Compared
with Three Months Ended March 31, 1999

Natural and Propane Gas Service.  Natural gas service operating
margin increased $348,000 in 2000 as compared with 1999.
Transportation revenues accounted for $179,000 of the $348,000
increase as certain customers were opting to purchase their own gas
and use our system to transport the gas to their location.  The
remaining $169,000 increase in operating margin was due principally
to an approximate 3.5% increase in average customers as compared with
the first quarter last year. Consumption did not increase
proportionately as per customer consumption decreased by a similar
percentage as winter weather was approximately 40% warmer than normal
in 2000.  Propane gas operating margin increased $28,000 as compared
with 1999.

Electric Service.  Electric service operating margin increased
$181,000 as compared with 1999. As compared with the first quarter
last year, average customers increased 2.6%, which was the major
contributing factor to the operating margin increase.

Operating Expenses.  In 2000, operating expenses increased $542,000,
or 10.5%, excluding cost of fuel and conservation expenses, taxes
passed through to customers, and income taxes. Other than the general
increases in all classifications of expense, there were increases in
gas line locating expenses, gas meter testing and expenses related to
increasing the gas pressure in our mains and services.  Additional
marketing staff and customer service costs, including postage, also
contributed to increased expenses.


PART II.

                            OTHER INFORMATION

Item 6.

(a)    None required

(b)    Reports on Form 8-K:
There were no reports on Form 8-K filed for the quarter
ending March 31, 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
                                     (DULY AUTHORIZED OFFICER
                                               AND
                                     CHIEF FINANCIAL OFFICER)
May 14, 2001