AES Corp. shares (NYSE: AES) jumped more than 16% Wednesday on the reports, rising $2.15 to $15.31 a share in late-day trading.
“Per our policy, we do not respond to rumors in the marketplace,” Amy Ackerman, a spokeswoman for Virginia-based AES, said in an email.
In late 2011, AES completed a merger to absorb DPL Inc., then the parent company of the Dayton area’s primary electric utility.
The merger made DPL a wholly owned subsidiary of AES, a Fortune 200 company that at the time had electricity-generating and distribution operations on five continents.
The approximately $4.7 billion deal ended what had been the 100-year existence of DPL-owned Dayton Power and Light Co. as an independent company.
Nearly a decade later, the utility rebranded as “AES Ohio.”
AES Ohio serves some 527,000 customer accounts, representing 1.25 million people in West Central Ohio.
Electric service first came to Dayton with a power plant and electric street lighting operated by the Dayton Electric Light Co. in 1883.
By 1911, the Hills and Dales Railway Co. bought two competing Dayton utilities, bringing all of Dayton’s electric service under common ownership. It was renamed the Dayton Power and Light Co.
In July, parent company AES Corp. reported a second quarter net loss of $150 million, down from net income of $153 million in the second quarter of 2024.
The loss was attributed to higher losses on sales leases, higher income tax expenses, lower margins from a business unit and other factors.
AES, however, reaffirmed 2025 guidance for an expected $2.6 billion to $2.8 billion in adjusted EBITDA — earnings before interest, taxes, deductions and amortization, a key corporate earnings measure.
About the Author
