This long-term contract involves SM Retail properties including the group’s primary headquarters in Pasay City and will support the retail conglomerate’s mission of adopting sustainable practices in its operations through, among others, the utilization of clean energy sources.
“As a key player in the retail industry, SM remains vigilant of its environmental impact and social responsibility. This partnership with MPower keeps us on track to power our facilities with renewable energy under the Competitive Retail Electricity Market (CREM),” Luis Lava, SM Retail vice president for workplace and administration, said in a statement.
Under the CREM program, consumers with a minimum monthly energy consumption of 500 kilowatts (kW), as mandated by the Energy Regulatory Commission (ERC), can choose their energy supplier. This initiative aims to enhance energy price competitiveness and foster alternative energy development in the Philippines.
“SM Retail now stands among our valued customers benefiting from MPower’s competitively priced renewable energy portfolio. Reflecting our sustainability commitment, we will continue to meet the growing demand for renewable energy in the contestable market,” said Redel M. Domingo, Meralco first vice president and head of MPower.
Both SM and Meralco have expressed their shared commitment to the Philippine government’s goal of increasing renewable energy's share in the energy mix to 50 percent by 2040. -- Ed: CSN
