Meralco firm to supply SM with clean power
MPower, the retail electricity supply unit of Pangilinan-led Manila Electric Co. (Meralco), will provide clean energy to select facilities of the country’s biggest retailer SM.
In a joint statement on Wednesday, MPower said it secured a long-term deal to supply renewable energy to SM Retail properties, including the latter’s headquarters in Pasay City.
Serving as the retail arm of conglomerate giant SM Investments Corp., it is focused on groceries, department stores and specialty retail. SM Retail operates the department stores under the SM Store brand.
“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.
Under the CREM system, qualified electricity consumers with a demand of at least 500 kilowatts every month can choose and tap their own energy supplier based on their specific needs.
Overseen by the Energy Regulatory Commission, this program seeks to promote competition in the market, while offering the public more options for their power supply.
“SM Retail now stands among our valued customers to benefit from MPower’s competitively priced renewable energy portfolio,” Meralco first vice president and Head of MPower Redel Domingo said.
