That's why lines strung in the summer are deliberately left with some slack, so the line can contract in cold weather without breaking from too much tension.
The electrical resistance of the line converts power into heat. This is why energizing a line is called "heating it up" in linemans' slang.
How much the line will lengthen/shorten with varying load depends on alot of factors, such as length of span, conductor material, conductor diameter, ambient temperature and the actual load applied.
Lines will tend to lengthen with:
Higher ambient temps
Aluminum conductors
High electrical loads
Smaller diameter lines (which have a higher resistance)
...and shorten when the reverse is true.