Oct 30 (Reuters) - Electric and gas utility NiSource ( NI )

beat Wall Street estimates for third-quarter profit on

Wednesday, helped by higher residential and industrial demand

for power.

The U.S. Energy Information Administration (EIA) expects

power consumption to reach records in 2024 and 2025, driven by

demand from AI technology and data centers, along with the

rising power usage in homes and businesses amid record high

temperatures.

NiSource's ( NI ) revenues from its gas distribution operations

increased 1.2% to $531 million, while total operating revenues

climbed nearly 5% to $1.08 billion in the July-September

quarter.

Revenues from its electric operations rose to $515.1 million

in the quarter, from $477.7 million in the year-ago period.

NiSource ( NI ) said it would extend its expected 6%-8% annual

growth rate plan to 2029, and forecast adjusted profit of

$1.84-$1.88 per share in 2025.

Analysts are expecting the firm to report a profit of $1.85

per share in 2025, according to data compiled by LSEG.

The Merrillville, Indiana-based company posted an adjusted

profit of 20 cents per share for the three months ended Sept.

30, compared with analysts' average estimates of 16 cents per

share.