Feb 12 (Reuters) -

Major U.S. electric utility Exelon ( EXC ) increased its

four-year capital investment plan by 10% to $38 billion, with

the bulk of the spending aimed at bolstering and building new

transmission lines, executives said on an earnings call on

Wednesday.

Many U.S. power companies have revised up capex plans over

the past year as the proliferation of AI data centers and the

electrification of industries like transportation grow power

consumption.

Aging and the lack of high-voltage power lines and

electricity generation are expected to present a key challenge

in meeting growing electricity demand, while storms and other

climate-driven events batter the existing grid.

"There is no single answer to meeting the levels of load

growth that are anticipated, but instead, a variety of

solutions," said Exelon ( EXC ) CEO Calvin Butler, who added that the

company is engaged in discussions around dozens of proposed

state legislations related to the country's power industry.

The Chicago-based company serves more than 10.5 million

customers through six fully regulated transmission and

distribution utilities, said last year it has about 11 gigawatts

of likely data-center demand.

As a way to help fund infrastructure upgrades, utilities

have been seeking to raise customer power bills.

Exelon ( EXC ) said several of its rate cases had been approved by

regulators and came into effect earlier this year. Regulated

utilities use rate case proceedings to determine the amount that

customers need to pay for electricity and natural gas services.

As a result, said Exelon ( EXC ) expects 2025 adjusted operating

earnings to be in the range of $2.64 per share to $2.74 per

share, compared with analysts' average estimate of 2.63 per

share, according to data compiled by LSEG.

Exelon ( EXC ) posted adjusted operating earnings of 64 cents per

share for the fourth quarter ended December 31, above analysts'

estimate of 59 cents per share.

The company's shares were trading up around 1% after

earnings.