July 31 (Reuters) - Utility Southern Co on

Thursday increased its five-year capital expenditure plan by $13

billion to $76 billion to meet growing energy needs in the U.S.,

after beating Wall Street estimates for second-quarter profit.

With power demand rapidly increasing across the country,

utilities are adding billions of dollars to their capital

investment plans to fund upgrades to the electrical grid and

related infrastructure.

According to the U.S. Energy Information Administration,

power consumption in the country will hit record highs in 2025

and 2026 due to data centers dedicated to artificial

intelligence and cryptocurrency, and as homes and businesses use

more electricity and less fossil fuels for heating and

transportation.

Atlanta, Georgia-based Southern Co ( SO ) posted an adjusted profit

of 92 cents per share for the three months ended June 30,

compared with analysts' average estimate of 90 cents, according

to data compiled by LSEG.

The profit beat was on the back of an increase in commercial

and industrial retail sales and higher demand for power.

Kilowatt-hour sales in the company's industrial segment rose

2.8% in the second quarter from a year earlier, while they grew

1.3% in the commercial segment.

Southern Co's ( SO ) operating revenue rose 7.9% to $6.97 billion

in the quarter.

However, its operating expenses increased 15% to $5.21

billion.

Southern Co ( SO ) is the second-largest utility company by

customer base in the U.S., supplying power in six states -

Alabama, Georgia, Illinois, Mississippi, Tennessee and Virginia.