Feb 12 (Reuters) - Dominion Energy ( D ) raised its

five-year capital expenditure plan on Wednesday as electricity

demand from data centers in its Virginia market continues to

accelerate.

The Richmond, Virginia-based utility expects to spend

$50.1 billion from 2025 to 2029, up from its previous estimate

of $43.2 billion.

"What's undeniable is that data center growth in

Virginia is not slowing down," Dominion Chief Executive Robert

Blue said on a conference call. "In fact, it's accelerating.

We're taking every step to meet this opportunity."

U.S. power demand is expected to hit record highs in

2025 and 2026 due to growing demand from data centers dedicated

to artificial intelligence and cryptocurrency, and from homes

and businesses for heat and transportation, according to the

U.S. Energy Information Administration.

Dominion said data centers added 88% more power capacity, or

19 gigawatts (GW), in December than in July.

However, it narrowed its 2025 operating earnings forecast to

between $3.28 and $3.52 per share, from a previous range of

$3.25 to $3.54.

Shares of the utility were flat in mid-morning trading at

$55.50.

Last year, Dominion connected 15 new data centers with a

capacity of nearly 1,000 megawatts. The utility expects to

connect another 15 data centers this year.

In northern Virginia, Dominion serves the world's

largest cluster of data centers, a market larger than the next

four largest international markets combined.

Dominion's fourth-quarter operating profit was $504

million, or 58 cents a share, compared with $260 million, or 29

cents a share, in the year-ago period. Dominion Energy Virginia

accounted for about 80% of the latest quarter's profit.

The company affirmed its long-term operating profit per

share growth of 5% to 7% through 2029.