Feb 17 (Reuters) - Utility FirstEnergy FE.N on Tuesday announced a capital investment plan of $36 billion through 2030, after it reported a 4.3% rise in full-year profit on the back of higher electricity rates.

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.

U.S. electricity demand is rising at an unprecedented pace, with utilities ramping up investments to address growing demand for power capacity from big technology companies as they set up data centers to support complex AI-related tasks.

"Our $36 billion investment plan for 2026 to 2030 includes more than $19 billion of total transmission investment," FirstEnergy CEO Brian Tierney said.

The company benefited from newly implemented Pennsylvania rates and stronger distribution sales, which helped it offset higher operating expenses.

Utilities aim to shift higher grid-modernization costs to customers by lifting power rates, as surging demand from industry electrification and expanding data‑center buildouts pressure the nation's power networks.

The company expects to deliver core earnings compounded annual growth near the top end of 6%-8% from 2026 to 2030.

In its distribution segment, the 2025 full-year core earnings increased 23 cents per share compared with 2024.

The company reaffirmed its forecast range of $2.62 to $2.82 per share for 2026, when it plans to invest $6 billion.

FirstEnergy posted a profit of $1.02 billion, or $1.77 per share, for the year ended December 31, compared with $978 million, or $1.70 per share, a year ago.