MPower, the retail electricity supply arm of Manuel V. Pangilinan-led Manila Electric Company (Meralco), has been engaged by SM Retail, Inc. to supply 100% renewable energy to its largest establishments in Metro Manila.
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. With this partnership with MPower, we are on-track with our goal of powering our facilities with renewable energy under the Competitive Retail Electricity Market (CREM),” said Luis Lava, SM Retail Vice President for Workplace and Administration.
With the CREM implementation, consumers meeting the prevailing threshold set by the Energy Regulatory Commission (ERC)—currently at a minimum monthly consumption of 500 kilowatts (kW)—can select their energy supplier based on their specific requirements. This program aims to improve energy prices and accelerate the development of alternative energy sources in the country.
“SM Retail now stands among our valued customers to benefit from MPower’s competitively priced renewable energy portfolio. As a reflection of our commitment to sustainability, we will continue our efforts to meet the growing demand for renewable energy supply in the contestable market,” Meralco First Vice President and Head of MPower Redel M. Domingo said.
Both groups have previously stated their support of the Philippine government’s goal of increasing the country’s renewable energy supply component to 50% by 2040.
