SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HANRAHAN PAUL T

(Last)

(First)

(Middle)

4300 WILSON BOULEVARD

(Street)

ARLINGTON

22203

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AES CORP [ AES ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								40,720	I	by 401(k) Plan⁽²⁾
Common Stock								110	I	by Spouse
Common Stock	05/11/2005	05/11/2005	M		15,000	A	$2.2	42,362	D
Common Stock	05/11/2005	05/11/2005	S		15,000	D	$15.15	27,362	D
Common Stock	05/11/2005	05/11/2005	M		28,000	A	$2.2	55,362	D
Common Stock	05/11/2005	05/11/2005	S		28,000	D	$15.17	27,362	D
Common Stock	05/11/2005	05/11/2005	M		3,500	A	$2.2	30,862	D
Common Stock	05/11/2005	05/11/2005	S		3,500	D	$15.18	27,362	D
Common Stock	05/11/2005	05/11/2005	M		15,500	A	$2.2	42,862	D
Common Stock	05/11/2005	05/11/2005	S		15,500	D	$15.19	27,362	D
Common Stock	05/11/2005	05/11/2005	M		33,000	A	$2.2	60,362	D
Common Stock	05/11/2005	05/11/2005	S		33,000	D	$15.2	27,362	D
Common Stock	05/11/2005	05/11/2005	M		5,000	A	$2.2	32,362	D
Common Stock	05/11/2005	05/11/2005	S		5,000	D	$15.21	27,362	D
Common Stock	05/11/2005	05/11/2005	M		7,500	A	$2.2	34,862	D
Common Stock	05/11/2005	05/11/2005	S		7,500	D	$15.27	37,362	D
Common Stock	05/11/2005	05/11/2005	M		3,800	A	$2.2	31,620	D
Common Stock	05/11/2005	05/11/2005	S		3,800	D	$15.26	27,362	D
Common Stock	05/11/2005	05/11/2005	M		6,200	A	$2.2	33,562	D
Common Stock	05/11/2005	05/11/2005	S		6,200	D	$15.25	27,362	D
Common Stock	05/11/2005	05/11/2005	M		32,000	A	$2.2	59,362	D
Common Stock	05/11/2005	05/11/2005	S		32,000	D	$15.24	27,362	D
Common Stock	05/11/2005	05/11/2005	M		5,000	A	$2.2	32,362	D
Common Stock	05/11/2005	05/11/2005	S		5,000	D	$15.29	27,362	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option Grant (Right to buy)⁽¹⁾	$2.2	05/11/2005	05/11/2005	M			154,500	07/29/2003	07/29/2012	Common Stock	154,500	$0	2,046,421	D

Explanation of Responses:

1. This is the fourth of four filings for Mr. Hanrahan's 5/11/2005 transactions.

2. Based on the latest plan statement available dated as of 2-25-2005, the reporting person does not report any change in shares held in The AES Corporation's 401(k) plan.

Remarks:

Shares resulting from Mr. Hanrahan's stock option exercises were sold pursuant to a Rule 10b5-1 Sales Plan dated April 1, 2005.

	Paul T. Hanrahan	05/13/2005
	** Signature of Reporting Person	Date
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