(Reuters) -U.S.-based utility PG&E Corp ( PCG ) said on Monday it plans to spend $73 billion by 2030 for transmission upgrades to meet the data center-led surge in electricity demand.

The company had said in July it was working to serve 10 gigawatts (GW) of new electricity demand from data center projects over the next ten years.

Power consumption is expected to hit record highs in 2025 and 2026, driven by a surge in demand from data centers due to increased adoption of artificial intelligence, according to the U.S. Energy Information Administration (EIA).

PG&E Corp ( PCG ) has also been blamed for sparking numerous wildfires, including some of California's most deadly, and has been making investments to improve the reliability of its power grid.

In a plan filed in March for the 2026-2028 period, the company said it aims to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026.

The California-based utility said on Monday its share of the state's $18 billion Wildfire Fund Continuation Account under SB 254 will fall to 47.85% from 64.20%, and utilities now have right of first refusal on insurance subrogation claims.

SB 254 is a California state law that reforms the state's wildfire liability and funding framework for utilities, including PG&E ( PCG ).

(Reporting by Pooja Menon in Bengaluru; Editing by Anil D'Silva and Leroy Leo)