May 6 (Reuters) - Utility Duke Energy on Tuesday

beat Wall Street expectations for first quarter revenue and

profit, helped by higher electricity rates, retail sales and a

colder winter.

U.S. utilities have been making a case for higher customer

electricity bills as power usage surges rapidly in the wake of

growing AI data centers, increased domestic manufacturing and

the electrification of industries.

Power demand in the U.S. is expected to hit record highs in

2025 and 2026, according to the U.S. Energy Information

Administration.

The U.S. nuclear industry, too, has become popular again

after years of no growth, as businesses search for clean energy

to supply data centers.

In late March, the U.S. Nuclear Regulatory Commission (NRC)

renewed the operating licenses for Duke Energy's ( DUK ) Oconee Nuclear

Station for 20 more years.

Duke Energy's ( DUK ) six nuclear plants supplied over half of the

electricity for their customers in the Carolinas in 2024. These

plants accounted for over 96% of the company's clean energy

production.

A colder-than-expected-winter also helped the utility as

customers needed more electricity and natural gas to heat their

homes.

Adjusted earnings from its electric utilities segment for

the first quarter was $1.28 billion, up from $1.02 billion

during the same reporting period last year.

Its gas utilities segment posted an adjusted profit of $349

million in the first quarter, compared with $284 million a year

earlier.

Quarterly revenue was reported at $8.25 billion, beating

analysts' estimate of $8.06 billion, according to data compiled

by LSEG.

The Charlotte, North Carolina-based company posted an

adjusted profit of $1.76 per share for the three months ended

March 31, compared with analysts' average estimate of $1.60 per

share.