May 1(Reuters) - Utility firm Consolidated Edison ( ED )

said on Thursday it plans to make capital investments of roughly

$72 billion over the next 10 years as it aims to increase

capacity, focus on grid safety and maintain reliability, among

other aspects.

Amid extreme weather conditions and demand growth, U.S.

electric utilities are increasing investments in infrastructure

to cope with the demand and also improve resilience.

Over the past few years, utility firms have been under

constant pressure over their role in wildfires, where the

companies have faced lawsuits for damages in billions of

dollars.

Consolidated Edison ( ED ) said that $66 billion of its planned

investments would be in core service which supports safety and

reliability, while the rest will be for clean energy, climate

resilience and customer engagement.

Separately, the company beat first-quarter profit estimates,

as regulatory rate relief, helped the New York-based utility.

U.S. utilities have been seeking to raise customer power

bills to fund infrastructure upgrades, as the country's

electrical grids face extreme weather events and growing demand

due to industry electrification and data center expansions.

As macroeconomic uncertainty deepens, U.S. utilities are

regaining favor as a defensive play, offering investors a

stable, lower-risk refuge.

With regulated revenue models that shield them from demand

volatility and trade-related risks, and with falling interest

rates boosting their appeal, utilities stand out as a reliable

haven amid market turbulence.

The company posted an adjusted profit of $2.26 per share for

the quarter ended March 31, compared to analysts' average

estimate of $2.20 per share, according to data compiled by LSEG.