SM taps Meralco for RE goals
SM Retail, a member of the conglomerate led by the Sy Family, is jacking up its efforts to transition its facilities to renewable energy.
Daily TribuneSM Retail, a member of the conglomerate led by the Sy Family, is jacking up its efforts to transition its facilities to renewable energy.
SM Retail, a member of the conglomerate led by the Sy Family, is jacking up its efforts to transition its facilities to renewable energy (RE).
The company has partnered with MPower, the retail electricity supply arm of Manuel V. Pangilinan-led Manila Electric Company (Meralco), to power its major establishments across Metro Manila with 100 percent clean energy.
“As a key player in the retail industry, SM remains committed to minimizing its environmental impact and fulfilling its social responsibility,” said Luis Lava, SM Retail Vice President for Workplace and Administration.
“Through this partnership with MPower, we are taking significant strides towards powering our facilities with renewable energy, in line with the Competitive Retail Electricity Market (CREM).”
The CREM framework allows consumers who meet the minimum consumption threshold, currently set by the Energy Regulatory Commission at 500 kilowatts per month, to choose their electricity supplier based on specific needs.
For SM Retail, the initiative will not only reduce its energy costs but will also accelerate the development of alternative energy sources in the country. The company, along with MPower, supports the government’s goal of achieving a 50 percent renewable energy supply by 2040.
“SM Retail now joins our growing list of valued customers, benefiting from MPower’s competitively priced renewable energy portfolio.
This underscores our dedication to sustainability, and we will continue to meet the increasing demand for renewable energy in the contestable market,” said Meralco First Vice President and Head of MPower, Redel M. Domingo.