Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
miller brian a
   2. Issuer Name and Ticker or Trading Symbol
AES CORP [AES] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP, General Counsel and Secy
(Last)
(First)
(Middle)
4300 WILSON BOULEVARD		 3. Date of Earliest Transaction (Month/Day/Year)
05/15/2006
(Street)

ARLINGTON, VA 22203		 4. If Amendment, Date 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
(City)
(State)
(Zip)
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)
Code V Amount (A) or (D) Price
Common Stock 05/15/2006   M   5,319 A $ 2.83 5,319 D  
Common Stock 05/15/2006   M   39,009 A $ 2.83 44,328 D  
Common Stock 05/15/2006   S   600 (1) D $ 18.01 43,728 D  
Common Stock 05/15/2006   S   200 (1) D $ 18.02 43,528 D  
Common Stock 05/15/2006   S   2,600 (1) D $ 18.03 40,928 D  
Common Stock 05/15/2006   S   1,028 (1) D $ 18.04 39,900 D  
Common Stock 05/15/2006   S   891 (1) D $ 18.05 39,009 D  
Common Stock 05/15/2006   S   7,109 (1) D $ 18.05 31,900 D  
Common Stock 05/15/2006   S   2,800 (1) D $ 18.06 29,100 D  
Common Stock 05/15/2006   S   4,400 (1) D $ 18.07 24,700 D  
Common Stock 05/15/2006   S   4,700 (1) D $ 18.08 20,000 D  
Common Stock 05/15/2006   S   1,600 (1) D $ 18.09 18,400 D  
Common Stock 05/15/2006   S   2,100 (1) D $ 18.1 16,300 D  
Common Stock 05/15/2006   S   2,400 (1) D $ 18.12 13,900 D  
Common Stock 05/15/2006   S   3,500 (1) D $ 18.15 10,400 D  
Common Stock 05/15/2006   S   1,900 (1) D $ 18.16 8,500 D  
Common Stock 05/15/2006   S   4,000 (1) D $ 18.18 4,500 D  
Common Stock 05/15/2006   S   4,000 (1) D $ 18.2 500 D  
Common Stock 05/15/2006   S   500 (1) D $ 18.23 0 D  
Common Stock               14,609 (2) I by 401(k) Plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option Grant (Right to buy) $ 2.83 05/15/2006   M   5,319   05/01/2004(3) 05/01/2013 Common Stock 5,319 $ 2.83 0 D  
Stock Option Exercise (Right to buy) $ 2.83 05/15/2006   M   39,009   02/12/2004(4) 02/12/2013 Common Stock 39,009 $ 2.83 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
miller brian a
4300 WILSON BOULEVARD
ARLINGTON, VA 22203		       EVP, General Counsel and Secy  

Signatures

 Brian A. Miller   05/17/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares resulting from Mr. Miller's stock option exercises were sold pursuant to a Rule 10b5-1 Sales Plan dated February 16, 2006.
(2) Between 02/24/2006 and 05/12/2006, Mr. Miller acquired 571 shares of Common Stock at an average price of $16.78 pursuant to The AES Retiremenet Savings Plan. This report is based on a plan statement dated 05/12/2006.
(3) This option vested in two equal installments on May 1, 2004 and May 1, 2005.
(4) This option vested in two equal installments on February 12, 2004 and February 12, 2005.

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