SM malls in NCR to run on 100% clean energy from MPower
By Manila Standard Business – January 22, 2025, 7:05 pm
SM Retail Inc. signs a retail electricity supply agreement with MPower, the retail electricity supply arm of Manila Electric Company (Meralco). Signing the agreement are (from left) MPower strategic account management head Rolando Abrojena, Meralco first vice president and MPower head Redel Domingo, SM Retail executive vice president for controllership and financial planning Jonathan Ng and SM Retail vice president for workplace and administration Luis Lava Jr.
SM Retail Inc. tapped MPower, the retail electricity supply arm of Manila Electric Company, to supply 100-percent renewable energy to its largest establishments in Metro Manila.
The long-term contract involves SM Retail properties including the group’s primary headquarters in Pasay City to support the retail conglomerate’s mission of adopting sustainable practices in its operations through 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 SM Retail vice president for workplace and administration Luis Lava.
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.
The 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,” said Meralco first vice president and head of MPower Redel Domingo.
Both groups previously stated their support for the government’s goal of increasing the country’s renewable energy supply component to 50 percent by 2040.
