AES Corp (AES) shares are soaring 5.02% in intraday trading on Wednesday, following two positive announcements from the company. The energy corporation's stock is gaining momentum as investors react to news of a strategic rate review filing and substantial progress in its energy project pipeline.

During a conference call, AES revealed that it has filed a rate review with the Indiana Utility Regulatory Commission. This move is expected to align AES with other electric utilities in Indiana, potentially paving the way for improved revenue structures. Such regulatory adjustments often have positive implications for utility companies' financial outlooks, which could be driving investor optimism.

Additionally, AES reported significant advancements in its energy project backlog. The company stated that 4.8 gigawatts of its total 11.1 gigawatt backlog is currently under construction and expected to be completed through 2027. This progress demonstrates AES's commitment to expanding its operational capacity and suggests strong growth potential in the coming years, further fueling the stock's upward trajectory.