Nov 6 (Reuters) - Consolidated Edison ( ED ) on Thursday

beat Wall Street estimates for third-quarter profit, helped by

robust demand for its electric and gas services, sending its

shares up nearly 3% in extended trading.

According to the U.S. Energy Information Administration,

power consumption is set to hit record highs in 2025 and 2026,

driven by demand from data centers dedicated to AI and

cryptocurrency, and as homes and businesses use more electricity

and less fossil fuel for heat and transportation.

The S&P index tracking utilities rose 6.8% in the

quarter ended September 30.

The New York-based utility's net income rose 17% to $688

million, or $1.91 per share, for the three months ended

September 30, from $588 million, or $1.70 per share, a year

earlier.

Total operating revenues, which include electric and gas

services across New York City, Manhattan, Westchester County and

New Jersey, rose to $4.53 billion during the third quarter, from

$4.09 billion a year earlier.

The company said it had reached a joint settlement on a

three-year investment plan to fund critical infrastructure

upgrades.

Consolidated Edison ( ED ) narrowed its 2025 adjusted earnings

forecast to $5.60 to $5.70 per share, from a prior view of $5.50

to $5.70 per share.

The utility posted an adjusted profit of $1.90 per share for

the three months ended September 30, compared with analysts'

average estimate of $1.74 per share, LSEG data showed.