Published: Jan 26, 2011 9:43 PM EST
Updated: Jan 26, 2011 6:43 PM EST

TALLAHASSEE, Fla. (AP) - Florida Power & Light Co.'s rates will increase by $1.43 per month for a typical residential customer from March through May and then by another 17 cents the rest of the year.

The state Public Service Commission on Wednesday approved the new rates to cover rising fuel costs.

The current bill for a residential customer using 1,000 kilowatt hours, which is about average, is $95.01. It will go to $96.44 in March through May and to $96.61 in June through December.

FPL is Florida's largest electric utility, serving 4.5 million homes, businesses and other customers in South Florida and along the state's east coast.

The utility's parent, NextEra Energy, on Tuesday reported record annual adjusted earnings of $1.8 billion for 2010.

(Copyright 2011 by The Associated Press. All Rights Reserved.)