Dominion Energy raised its five-year capital expenditure plan on Wednesday as the utility firm sought to cash in on the potential growth in power demand from a rise in data centers across the U.S.

Dominion reports mixed Q4 results while raising its five-year capital spending plan as it anticipates a potential surge in power demand from a rise in datacenters across the U.S.

(Reuters) -Dominion Energy raised its five-year capital expenditure plan on Wednesday as electricity demand from data centers in its Virginia market continues to accelerate. The Richmond, Virginia-based utility expects to spend $50.