AES · 10-Q · 2026Q2 · Full report

Market Demand Trends

AES CORP · 2026-08-04 · Importance 17 · Surprise 24

AES reported stronger power-market activity in the second quarter and first half of 2026, with higher energy and capacity sales and spot-market prices, particularly in Argentina and Colombia. Colombia’s spot sales and prices benefited from El Niño, while Mexico recorded higher spot sales after a power purchase agreement expired. U.S. renewables demand also supported development-services revenue, new projects placed in service, and higher retail-supply-agreement revenue. Demand was partially offset by lower contracted sales volume in Bulgaria following expiration of the Maritza PPA and lower load requirements at AES Indiana in the quarter.