FirstEnergy beats Q2 profit estimates on higher electricity rates

July 30 (Reuters) - FirstEnergy FE.N beat Wall Street estimates for second-quarter adjusted profit on Wednesday, as the utility benefited from higher rates.

U.S. utilities have been seeking to raise power bills to upgrade infrastructure, as the country's electrical grids come under pressure from heightened demand for power from industries and data centers.

Regulated utilities such as FirstEnergy use rate case proceedings to set customer charges based on investments made in their electric and transmission systems.

The company said its quarterly performance was boosted by the impact of new base rates coming into effect in Pennsylvania, even as milder temperatures took a hit on demand for electricity.

Milder temperatures during the quarter reduced customer demand by nearly 3%, compared with a year earlier, the company said in a statement.

FirstEnergy serves about 6 million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York through its three segments - distribution, integrated and stand-alone transmission.

The Akron, Ohio-based firm posted an adjusted profit of 52 cents per share in the second quarter, compared with analysts' estimate of 49 cents per share, according to data compiled by LSEG.