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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15 (d) OF

                       THE SECURITIES EXCHANGE ACT OF 1934

         Date of Report (date of earliest event reported): June 8, 1999

                               THE AES CORPORATION
             (exact name of registrant as specified in its charter)

        DELAWARE               333-15487                   54-1163725
(State of Incorporation) (Commission File No.) (IRS Employer Identification No.)

                       1001 North 19th Street, Suite 2000
                            Arlington, Virginia 22209

          (Address of principal executive offices, including zip code)

               Registrant's telephone number, including area code:
                                 (703) 522-1315

                                 NOT APPLICABLE

          (Former Name or Former Address, if changed since last report)

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Item 5.   Other Events

     On May 28, 1999, our subsidiary that is the parent of Empresa Distribuidora
de Energia  Norte S.A.  (Eden) and  Empresa  Distribuidora  de Energia  Sur S.A.
(Edes),  together  with Eden and Edes,  failed to repay when due $330 million of
short-term  indebtedness,  which is non-recourse to AES,  incurred in connection
with our  acquisition  of Eden and Edes.  The  lenders  of such  financing  have
granted our  subsidiaries a waiver within the applicable  grace period extending
repayment until June 18, 1999. Based on discussions with the lenders, we believe
that  our  subsidiaries  will  be  able  to  arrange  financing  to  repay  such
indebtedness  on or  prior  to its  maturity.  Our  subsidiaries  do not  have a
commitment for such financing,  however,  and there can be no assurance that our
subsidiaries  will be successful in obtaining  such financing on a timely basis,
if at all.



                                   SIGNATURES

          Pursuant to the  requirements of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                    THE AES CORPORATION

     Date: June 8, 1999                               By /s/ Barry J. Sharp
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                                                           Barry J. Sharp