CenterPoint Energy misses profit estimate on higher costs

July 24 (Reuters) - U.S. electric and gas utility CenterPoint Energy's CNP.N second-quarter profit was just shy of analysts' estimate on Thursday, weighed down by higher expenses.

The country's electrical grids have been facing an onslaught of extreme weather and ballooning demand from electrification of industries and the technology sector's data center build out amid an artificial intelligence boom, prompting utilities to seek rate increases to upgrade and pay for power infrastructure.

CenterPoint's operations and maintenance costs increased 5.5% to $715 million during the quarter ended June 30.

The company provides electricity and natural gas to more than 7 million customers across Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas.

It also raised its 10-year capital expenditure plan through 2030 by $500 million to $53 billion to cater to an anticipated surge in power demand from data centers.

"This year alone we have increased our capital investment plan by $5.5 billion, including the $500 million increase," said CEO Jason Wells.

Power demand from U.S. data centers is expected to nearly triple in the next three years and consume as much as 12% of the total electricity produced, according to a study by Lawrence Berkeley National Laboratory.

CenterPoint's net income fell about 13% to $198 million.

It posted an adjusted profit per share of 29 cents during the quarter, compared with analysts' average estimate of 30 cents, according to data compiled by LSEG.