Nov 4 (Reuters) - Eversource Energy ( ES ) beat Wall

Street estimates for third-quarter profit on Tuesday, helped by

higher rates for its services.

Shares of the company rose 2% after the bell.

U.S. utilities have sought rate increases to fund grid

upgrades as electrical grids face extreme weather and growing

demand from industrial electrification and data center

expansion.

Regulated utilities use rate-case proceedings to determine

how much customers pay for electricity, natural gas, private

water and steam services.

During the third quarter, profit at Eversource's electric

transmission business rose 6% to $185.5 million while at its

electric distribution unit profit rose nearly 9% to $221.6

million.

Eversource narrowed its adjusted profit forecast to

$4.72 to $4.80 per share in 2025, whose midpoint was above

analysts' average estimate of $4.73 per share, according to

LSEG.

Third-quarter results were partly offset by a $75 million,

or 20 cents per share, charge because of an increased liability

for two wind projects sold to Global Infrastructure Partners

(GIP).

Last year, Eversource sold its stake in the South Fork and

Revolution Wind projects to GIP, receiving adjusted gross

proceeds of $745 million, down from $1.12 billion because of

reduced capital spending and a delay to Revolution Wind's

commercial operation.

The Massachusetts-based company posted an adjusted profit of

$1.19 per share in the July-September quarter, compared with the

analysts' average estimate of $1.15 per share, according to data

compiled by LSEG.