Feb 13 (Reuters) - U.S. utility American Electric Power ( AEP )

posted a rise in fourth-quarter profit on Thursday, as

data centers boosted demand for power from commercial customers.

As Big Tech pours in billions of dollars into artificial

intelligence technologies and the infrastructure needed to

develop them, utilities have witnessed a huge surge in demand

for power.

"In 2024, we experienced significant load growth in our

commercial class, largely due to economic development in

Indiana, Ohio and Texas," said CEO Bill Fehrman.

The utility expects total retail load growth of up to 9%

annually over the next three years and said it could serve more

than 20 gigawatts of new load growth by the end of the decade.

AEP said it was also evaluating $10 billion of potential

incremental investment to its five-year capital expenditure

plan, which currently stands at $54 billion.

The U.S. Energy Information Administration expects power

consumption to reach record highs this year and the next, driven

by growing demand from data centers dedicated to AI and

cryptocurrency, and with homes and businesses using more

electricity for heat and transportation.

AEP serves about 5.6 million customers in 11 states and

possesses the largest electric transmission system in the United

States.

The Columbus, Ohio-based company earned $664.1 million, or

$1.25 per share, in the three months ended December 31, compared

with $336.2 million, or 64 cents per share, last year.