AES Corp (AES) stock surged 5.02% in intraday trading on Wednesday, following two positive announcements that signal potential revenue growth and expansion for the energy company.

During a conference call, AES revealed that it has filed a rate review with the Indiana Utility Regulatory Commission. This move is expected to bring AES's rates in line with other electric utilities in Indiana, potentially leading to improved revenue streams in the state. The regulatory filing demonstrates AES's proactive approach to aligning its pricing structure with market standards.

Additionally, AES announced that 4.8 gigawatts of its 11.1 gigawatt backlog is currently under construction and expected to be completed through 2027. This substantial construction pipeline, representing over 43% of the company's total backlog, indicates strong growth prospects for AES in the coming years. The successful completion of these projects could significantly boost AES's power generation capacity and, consequently, its future earnings potential.