By Philstar
Sy family-led SM Retail Inc. has engaged the retail electricity supply arm of tycoon Manuel V. Pangilinan’s Manila Electric Co. (Meralco) to energize its properties in Metro Manila with clean power.
Meralco’s MPower has entered into a long-term contract for 100 percent supply of renewable energy to SM Retail’s largest establishments in the metro, including the group’s main headquarters in Pasay.
SM Retail operates the retail business of the SM Group that includes department stores, supermarkets and specialty outlets.
“As a key player in the retail industry, SM remains vigilant of its environmental impact and social responsibility,” said SM Retail vice president for workplace and administration Luis Lava Jr.
With this strategic collaboration with MPower, Lava said the company is on track to achieve its target of “powering our facilities with renewable energy under the competitive retail electricity market (CREM).”
Regulated by the Energy Regulatory Commission, CREM enables power end-users with a monthly consumption of at least 500 kilowatts to choose their energy supplier based on their specific requirements.
The program is designed to promote market competition and ensure affordable electricity for consumers.
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