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Southern (SO) Partners With Volta to Offer Viable EV Solutions

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Atlanta, GA-based Southern Company SO recently announced that it would provide electric mobility solutions for companies looking to make a transition of their commercial fleets to electric vehicles (EV). For this purpose, Southern Company is partnering with Volta Inc. VLTA, with which it previously worked on optimizing EV siting analytics. SO and Volta jointly declared the PredictEV® Fleet a product that will enable Southern Company to inform and guide consumers about the right fleet electrification approach to meet their needs in a thorough and effective manner.

Per Southern Company, the PredictEV® Fleet examines data on prevailing vehicle fleets and premises to identify crucial planning components. The components include an array of recommended EVs that will substitute internal combustion engine vehicles with comparable specifications, optimum EV supply equipment to fulfill the fleet's charging requirements, projected costs and savings, with a calculation of the total cost ownership, the integration of applicable rebates and incentives, such as federal, state and utility programs, and carbon mitigation implication by shifting to EVs.

Drew Bennett, Executive Vice President of Network Operations at VLTA, stated that roughly one out of five vehicles in the United States is owned by a company that makes fleet electrification an essential business prospect and a crucial element for a carbon-free transportation future. "Our fleet product enables data-driven electrification planning for both fleet operators and the utilities that serve them to ensure strategies are future-proof and efficient," he further added.

Chief commercial and customer solutions officer at Southern Company Chris Cummiskey mentioned that his company engages with customers regularly about their future electric transportation needs and that customers see electric transportation as a way to reduce costs and realize their sustainability goals. Commenting on the partnership with Volta, he said “This is one of several investments in innovation we are making to bring sustainability solutions to our customers – and to our own businesses.”

Founded in 1945, Southern Company is one of the largest utilities in the United States. SO deals with the generation, transmission and distribution of electricity. Following its merger with AGL Resources on Jul 1, 2016, Southern Company serves approximately nine million customers through its seven electric and natural gas distribution units.

Volta Inc. is an industry-leading, global EV charging network, powering vehicles and commerce. Volta's vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play.

Southern Company currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the utility sector that warrant a look include TransAlta TAC and Ameren AEE. While TransAlta sports a Zacks Rank #1 (Strong Buy), Ameren currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for TransAlta’s 2022 earnings is pegged at 38 cents per share, up 65.2% from the projected year-ago earnings of 23 cents.

TransAlta’s stock has gone up 10.5% in a year. TAC is valued at around $3 billion.

The Zacks Consensus Estimate for Ameren’s 2022 earnings is pegged at $4.05 per share, which is about 5.5% higher than the year-ago estimate of $3.84.

Ameren beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being about 3.90%. AEE shares have increased around 19.5% in a year.


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Volta Inc. (VLTA) : Free Stock Analysis Report
 
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