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 *
LURASCHI WILLIAM R
   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)
ExecVP&GenCounsel
(Last)
(First)
(Middle)
C/O THE AES CORPORATION, 4300 WILSON BOULEVARD		 3. Date of Earliest Transaction (Month/Day/Year)
02/25/2005
(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 02/25/2005 02/25/2005 A   1,968 (1) A (1) 43,851 I by 401(k)

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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
Restricted Stock Units (2) 02/25/2005 02/25/2005 A   24,539     (2)   (2) Common Stock 24,539 (2) 70,526 I The AES Corporation 2003 Long Term Compensation Plan
Stock Option Grant $ 16.81 02/25/2005 02/25/2005 A   32,666   02/25/2006 02/25/2015 Common Stock 32,666 $ 16.81 522,791 D  
Units (3) 02/25/2005 02/25/2005 A   1,536     (3)   (3) Common Stock 1,536 $ 16.81 9,281 I Restoration Supplemental Retirement Plan and The AES Corporation Supplemental Retirement Plan

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LURASCHI WILLIAM R
C/O THE AES CORPORATION
4300 WILSON BOULEVARD
ARLINGTON, VA 22203		       ExecVP&GenCounsel  

Signatures

 William R. Luraschi   03/01/2005
**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) These shares represent matching and profit sharing awards for 2004. The 2004 profit sharing award was determined by the Board of Directors on 02-25-2005. The average stock price for the year was $9.9715.
(2) The restricted stock unit award, pursuant to The AES Corporation 2003 Long Term Compensation Plan, vests in three annual installments if certain performance criteria are achieved. They are subject to a deferred payment date, which is the fifth anniversary of the grant date. The payment amount of the award,if any, equals the market value of the stock on the fifth anniversary of the grant date.
(3) These units are awarded pursuant to the Restoration Supplemental Retirement Plan. Benefits under this Plan shall be paid as soon as practicable following termination of employment. Each unit is equal to one share of stock.

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