NRG Energy raises annual profit forecast amid higher power demand
17/09/2025 22:41
Sept 17 (Reuters) - U.S. utility NRG Energy NRG.N raised its annual profit forecast on Wednesday, amid a surge in artificial intelligence-related power demand.
Power consumption is projected to hit record highs in 2025, driven by the rapid expansion of AI and cryptocurrency-focused data centers, alongside increased electricity usage for heating and transportation by homes and businesses, according to the U.S. Energy Information Administration.
As Big Tech pours billions of dollars into AI technologies and data centers needed to run them, utilities have witnessed a huge surge in the demand for power.
NRG Energy raised its annual adjusted EPS forecast to between $7.55 and $8.15 from a range of $6.75 to $7.75 per share, marking a midpoint increase of 60 cents.
The utility raised its adjusted net income forecast to a range of $1.47 billion to $1.59 billion, up from $1.33 billion to $1.53 billion.
NRG Energy exceeded Wall Street's second-quarter profit estimates in August, benefiting from heightened power demand.
The company is set to report its third-quarter 2025 financial results on Nov. 6.
(Reporting by Katha Kalia in Bengaluru; Editing by Mohammed Safi Shamsi)
((Katha.Kalia@thomsonreuters.com;))