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 *
Qasim Shahzad
   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)
Executive Vice President
(Last)
(First)
(Middle)
4300 WILSON BOULEVARD		 3. Date of Earliest Transaction (Month/Day/Year)
11/15/2006
(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 11/15/2006   M   12,222 A $ 17.125 12,222 D  
Common Stock 11/15/2006   M   4,646 A $ 16.81 4,646 D  
Common Stock 11/15/2006   S   6,868 D $ 22.473 10,000 D  
Common Stock 11/15/2006   S   5,000 D $ 22.333 5,000 D  
Common Stock 11/15/2006   S   354 D $ 22.46 4,646 D  
Common Stock 11/15/2006   S   4,646 D $ 22.46 0 D  
Common Stock               22,178 (3) I by 401k Plan

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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) $ 17.125 11/15/2006   M     12,222   (1)   (1) Common Stock 12,222 $ 0 10,000 D  
Stock Option Grant (Right to buy) $ 16.81 11/15/2006   M     4,646   (2)   (2) Common Stock 4,646 $ 0 9,291 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Qasim Shahzad
4300 WILSON BOULEVARD
ARLINGTON, VA 22203		       Executive Vice President  

Signatures

 Shahzad Qasim   11/17/2006
**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) This ten year stock option grant was awarded on 02/02/1999 and vested in two equal annual installments such that one half vested on 02/02/2000 and the remaining half vested on 02/02/2001.
(2) This ten year stock option grant was awarded on 02/25/2005 and vests in three equal annual installments such that one third vested on 02/25/2006, one third will vest on 02/25/2007, and the remaining third will vest on 02/25/2008.
(3) Between 10/12/2006 and 11/17/2006, Mr. Qasim acquired 27 shares of AES Common stock at an average price of $21.86 pursuant to The AES Retirement Savings Plan. This report is based upon a plan statement dated 11/17/2006.

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